Purpose Investments Inc. Announces Redesignation of Mutual Fund Shares/Units and Termination of Mutual Fund Shares/Units of Certain Purpose Funds

TORONTO, March 18, 2022 (GLOBE NEWSWIRE) -- Purpose Investments Inc. ("Purpose Investments") is announcing today that effective as of April 8, 2022, the mutual fund shares or mutual fund units, as applicable, of the following Purpose Funds will be redesignated as follows based on the relative net asset value per share or unit, as applicable, of such Purpose Fund on April 7, 2022.

Immediately following the redesignations described above, (a) the Series B units of Purpose Strategic Yield Fund and Purpose Multi-Asset Income Fund and (b) the Series B shares of Purpose Enhanced Premium Yield Fund, Purpose Global Resource Fund, Purpose Special Opportunities Fund, Purpose Global Bond Class and Purpose Global Innovators Fund will be renamed as (i) "Series A units" and (ii) "Series A shares", respectively.

Purpose Investments is also announcing that, effective April 8, 2022, all of the mutual fund shares or mutual fund units, as applicable, of the series or class of the following Purpose Funds will be redeemed and holders of such mutual fund shares or mutual fund units, as applicable, will receive redemption proceeds equal to the net asset value of such mutual fund shares or mutual fund units, as applicable, on April 7, 2022.

About Purpose Investments Inc.

Purpose Investments is an asset management company with more than $13 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation, offering a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent, technology-driven financial services platform that is reshaping the industry by connecting and creating opportunities across asset management, wealth management and small business financial services.

For further information please contact:
Keera Hart
[email protected] 
905-580-1257

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 guaranteed, their values change frequently and past performance may not be repeated. 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.