Le Lézard
Classified in: Business
Subject: MISCELLANEOUS

Redwood Asset Management Inc. Announces Exchange Ratios for the Merger of Canadian 50 Advantaged Preferred Share Fund Into Redwood Canadian Preferred Share Fund


TORONTO, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Redwood Asset Management Inc. (the "Manager"), the manager of Canadian 50 Advantaged Preferred Share Fund ("Canadian 50") (TSX:CPF.UN), announced today the exchange ratios for the merger (the "Merger") of Canadian 50 and the Redwood Canadian Preferred Share Fund (the "Continuing Fund") (NEO:RPS).

Pursuant to the Merger, each holder of Class A units and Class F units of Canadian 50 will automatically receive 0.701142 ETF units and 0.735713 ETF units, respectively, of the Continuing Fund for each Class A unit and Class F unit of Canadian 50 held, on the effective date of the Merger (December 22, 2017).  No fractional ETF units of the continuing fund or cash in lieu thereof will be issued or paid under the merger.

Holders of Class F units of Canadian 50 will receive ETF units of the Continuing Fund on the effective date of the Merger and not Class F units of the Continuing Fund as originally contemplated. This should provide greater liquidity for such holders at the same management fee.

Units of Canadian 50 were delisted from the Toronto Stock Exchange at the close of business on December 21, 2017. Unitholders of Canadian 50 are not required to take any action in order to become unitholders of the Continuing Fund.

Details of the Merger are outlined in the joint management information circular of Canadian 50 dated October 3, 2017, available on www.sedar.com.  

About Redwood Asset Management Inc.

Redwood Asset Management Inc. is a Toronto-based investment fund manager, focused on delivering unique investment solutions managed by boutique global investment managers to Canadian investors. Redwood Asset Management Inc. is a wholly owned subsidiary of Purpose Investments Inc., which has over $4.9 billion in assets under management. More information about Redwood's product offerings is available at www.redwoodasset.com.

CONTACT INFORMATION

Redwood Asset Management Inc.
Peter Shippen, President and CEO
T: 1.877.789.1517
Email: [email protected]

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.


These press releases may also interest you

at 17:00
via IBN - Nilam Resources, Inc. today announced that it has appointed Pranjali More as Interim Chief Executive Officer and addresses current developments regarding trading status and the status of the agreement with Xyberdata and Mindwave. Prior to...

at 17:00
Cielo Waste Solutions Corp. ("Cielo" or the "Company"), a renewable fuel company leveraging market ready licensed technology to produce low-carbon fuel from wood by-products, today announced its financial results for the three and nine months ended...

at 17:00
Inventronics Limited ("Corporation") (IVX:TSX Venture), a designer and manufacturer of enclosures for the telecommunication, cable, electric distribution, energy, and other industries in North America, today announced its 2023 audited annual and...

at 16:45
Chicago Rivet & Machine Co. today announced audited results for the year 2023 as summarized below: CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Years Ended December 31 2023 2022 Net sales $31,507,722 $33,646,033...

at 16:41
In celebration of Trans Day of Visibility, Equalpride is proud to announce a partnership with TransLash Media for the release of a short film series on Advocate Channel, ARTISTIC LEGACIES....

at 16:40
Pomerantz LLP is investigating claims on behalf of investors of DraftKings Inc. ("DraftKings" or the "Company") . Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980....



News published on and distributed by: