Heritage Educational Foundation and Heritage Education Funds Inc.: Notice of Change of Auditors

MISSISSAUGA, ON, July 20, 2018 /CNW/ - Knowledge First Financial Inc. announced today that it has changed the auditor for Heritage Education Funds Inc. and the educational savings plans sponsored by Heritage Educational Foundation being the Heritage Plans and Impression Plan (each a "Reporting Issuer") from KPMG LLP (the "Former Auditor") to PricewaterhouseCoopers LLP ("Successor Auditor").

The decision to not reappoint the Former Auditor and the appointment of the Successor Auditor have been approved by the Board of Directors of Knowledge First Financial Inc.  Knowledge First Financial Inc. owns all the issued and outstanding shares of Heritage Education Funds Inc. Heritage Educational Foundation is a subsidiary of Heritage Education Funds Inc. 

There were no modifications contained in any of the audit reports issued by the Former Auditor since the beginning of each of the Reporting Issuers' two most recently completed fiscal years, being the period during which the Former Auditor was the auditor of each Reporting Issuers, and ended on December 31, 2017. In the opinion of Knowledge First Financial Inc., there have been no "reportable events" (as defined in NI 51-102) between any of the Reporting Issuers and the Former Auditor or the Successor Auditor.

The Successor Auditor will act as Auditor for each Reporting Issuer until the close of the next Annual General Meeting of Knowledge First Financial Inc.

This notice of change of auditor is issued in accordance with Section 4.11 of National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102").

About Knowledge First Financial Inc.

On January 2, 2018, Knowledge First Financial Inc. and Heritage Education Funds Inc. jointly announced that Knowledge First Financial Inc. had acquired Heritage Education Funds Inc. The Heritage Plans and the Impression Plan continue to be distributed and managed as they are today.

Knowledge First Financial Inc. is a wholly-owned subsidiary of Knowledge First Foundation and is the investment fund manager, administrator and distributor of Registered Education Savings Plans. Knowledge First Foundation is a not-for-profit Canadian corporation with no shareholders.

SOURCE Knowledge First Financial Inc.