Canso Select Opportunities Fund Provides Update on the Anticipated Completion of the Arrangement

RICHMOND HILL, Ontario, June 08, 2018 (GLOBE NEWSWIRE) -- Lysander Funds Limited ("Lysander") today announced, on behalf of the Canso Select Opportunities Fund (TSE:SCW.UN) (the "Fund"), that it continues to work towards implementing the proposed plan of arrangement (the "Arrangement") involving the Fund, its unitholders and Canso Select Opportunities Corporation ("CSOC").

On April 12, 2018, the Fund obtained the requisite unitholder approval to proceed with the Arrangement at a special meeting of the holders of Class A and Class F Units of the Fund. On April 25, 2018, the Fund obtained approval to proceed with the Arrangement by the Ontario Superior Court of Justice (Commercial List). On May 14, the Ontario Securities Commission approved the Arrangement. On May 31, 2018, the Fund processed annual redemptions in the amount of $23 million.  

The Fund continues discussions with the Toronto Stock Exchange on the delisting of the Fund and with the TSX Venture Exchange on the listing of CSOC.

The Arrangement is anticipated to close in mid-June, 2018.

Further details of the Arrangement are set out in the Arrangement Agreement and the Management Information Circular dated March 16, 2018, both of which have been filed by the Fund on SEDAR at www.sedar.com.

Lysander is the trustee and investment fund manager of the Fund. The head office of Lysander is located at 100 York Blvd., Richmond Hill, Ontario L4B 1J8.

For further information on Lysander, please visit www.lysanderfunds.com or [email protected] or you can reach Lysander at 1-877-308-6979.

Richard Usher-Jones
President
Lysander Funds Limited
Tel. No. 416-640-4275
Fax No. 905-764-0000

Forward Looking Information

This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions "seeks", "expects", "believes", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of Lysander regarding future results or events and are based on information currently available to it. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. Lysander believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Lysander can give no assurances that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risk Factors" in the annual information form of the Fund dated March 23, 2018 and in the Management Information Circular dated March 16, 2018. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Lysander undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release.