Subjects: CALENDAR OF EVENTS, STOCK/OTHER MARKET NEWS, MISCELLANEOUS, MERGERS AND ACQUISITIONS (M&A)
Purpose Investments Inc. Announces Results of Meetings of Securityholders
THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
TORONTO, April 19, 2018 (GLOBE NEWSWIRE) -- On April 17, 2018, Purpose Investments Inc. ("Purpose") held the special meetings relating to the approval of the following previously announced mergers (the "Mergers"):
| TERMINATING FUND | CONTINUING FUND | |
| Redwood Global Resource Fund (formerly LOGiQ Global Resource Fund) | Purpose Global Resource Fund (formerly Redwood Resource Growth & Income Fund and LOGiQ Resource Growth and Income Class) | |
| Redwood Energy Income Fund (formerly LOGiQ Advantage Oil & Gas Income Fund) | Purpose Global Resource Fund (formerly Redwood Resource Growth & Income Fund and LOGiQ Resource Growth and Income Class) | |
| Redwood Tactical Equity Fund (formerly LOGiQ Tactical Equity Class) | Purpose Global Innovators Fund (formerly Redwood Global Innovators Fund, Redwood Global Opportunities Fund and LOGiQ Global Opportunities Class) | |
| Redwood Total Return Fund (formerly LOGiQ Total Return Fund) | Purpose Global Innovators Fund (formerly Redwood Global Innovators Fund, Redwood Global Opportunities Fund and LOGiQ Global Opportunities Class) | |
| Redwood Growth Fund (formerly LOGiQ Growth Fund) | Purpose Special Opportunities Fund (formerly Redwood Special Opportunities Fund and LOGiQ Special Opportunities Class) | |
| Redwood Global Balanced Income Fund (formerly LOGiQ Global Balanced Income Class) | Purpose Multi-Asset Income Fund (formerly Redwood High Income Fund and LOGiQ High Income Fund) | |
| Redwood Balanced Income Fund (formerly LOGiQ Balanced Monthly Income Class) | Purpose Multi-Asset Income Fund (formerly Redwood High Income Fund and LOGiQ High Income Fund) | |
| Redwood Monthly Income Fund (formerly LOGiQ VIP Income Fund) | Purpose Multi-Asset Income Fund (formerly Redwood High Income Fund and LOGiQ High Income Fund) | |
| Redwood Advantage Monthly Income Fund (formerly LOGiQ Advantage VIP Income Fund) | Purpose Multi-Asset Income Fund (formerly Redwood High Income Fund and LOGiQ High Income Fund) | |
| Redwood Global Financials Income Fund (formerly Global Capital Securities Trust) | Purpose US Preferred Share Fund (formerly Redwood U.S. Preferred Share Fund) | |
| Redwood Floating Rate Bond Fund (formerly Voya Diversified Floating Rate Senior Loan Fund) | Redwood Floating Rate Income Fund (formerly Voya Floating Rate Senior Loan Fund) | |
In accordance with applicable legal requirements, securityholders of each of the Terminating Funds and of Purpose Global Innovators Fund, Purpose US Preferred Share Fund, Purpose Multi-Asset Income Fund and Redwood Floating Rate Income Fund (collectively, the "Voting Funds") were required to approve the Mergers.
At the special meetings, each of the Voting Funds, with the exception of Redwood Energy Income Fund, approved special resolutions to authorize the Mergers.
The requisite quorum of securityholders of Redwood Energy Income Fund was not present at the special meeting of this fund and, accordingly, such special meeting was adjourned to reconvene at 10:00 a.m. (Toronto time) on April 24, 2018. It is anticipated that all Mergers will, pending final approvals, be effective after the close of business on May 4, 2018.
Complete details regarding the Mergers and the matters considered at the special meetings were outlined in the management proxy circular dated March 12, 2018 sent to securityholders of the Voting Funds of record as of March 12, 2018.
About Purpose Investments
Purpose Investments is an asset management firm inspired by the belief that all investors should have access to great investment products along with low fees. Purpose believes in focusing first on managing risk and creating value that is currently missing from the marketplace, thus empowering all Canadians to be better investors. Purpose has over $4.9 billion in assets under management and currently offers 50 exchange traded funds and mutual funds and 16 closed-end funds across multiple asset classes and both traditional and alternative investment strategies.
For further information please contact:
Nancy Turner
Purpose Investments Inc.
Tel: (877) 789-1517
Email: [email protected]
This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein.
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