PenderFund Capital Management Ltd. Announces Risk Rating Change on Pender Alternative Special Situations Fund and Pender Bond Universe Fund

VANCOUVER, British Columbia, June 27, 2023 (GLOBE NEWSWIRE) -- PenderFund Capital Management Ltd. ("Pender"), the manager of the Pender mutual funds (the "Funds"), announces that the risk rating of Pender Alternative Special Situations Fund ("PASSF") and Class F (US$) of Pender Bond Universe Fund ("PBUF") have changed. As part of its review of the investment risk level of its mutual funds and applying the standardized risk classification methodology as set out in Appendix F to National Instrument 81- 102 - Investment Funds, Pender has determined that the investment risk level of PASSF and of Class F (US$) of PBUF has changed and the change was reflected in the Funds' annual simplified prospectus renewal, which was filed on June 27, 2023.

Risk Rating Changes

A summary of the methodology used by Pender to identify the risk rating of each of the Funds can be found in the Funds' simplified prospectus available on SEDAR at www.sedar.com. This methodology is also available by calling toll-free 1-866-377-4743 or sending an email to [email protected].

The risk rating for each of the Funds is reviewed at a minimum on an annual basis, as well as when a Fund undergoes a material change. No material changes have been made to the investment objectives, strategies or management of the Pender Funds.

About PenderFund Capital Management Ltd.

Pender was founded in 2003 and is an independent, employee-owned investment firm located in Vancouver, British Columbia. Our goal is to protect and grow wealth for our investors over time. We have a talented investment team of expert analysts, security selectors and independent thinkers who actively manage our suite of niche investment funds, exploiting inefficient parts of the investing universe to achieve our goal. For more information on Pender and for standard performance information on our funds, please visit www.penderfund.com or www.fondspender.com.

For more information on Pender, visit www.penderfund.com and www.fondspender.com.
Please read important disclosures at www.penderfund.com/disclaimer.

Melanie Moore
Vice President of Marketing, PenderFund Capital Management Ltd.
[email protected]
(604) 688-1511
Toll Free: (866) 377-4743

Forward-Looking Information

This news release may contain forward-looking information (within the meaning of applicable securities laws) relating to the business and operations of Pender and the Funds ("forward-looking statements"). Forward-looking statements may be identified by words such as "intend", "anticipate", "project", "expect", "believe", "plan", "will", "may", "estimate" and other similar expressions. These statements are based on Pender's expectations, estimates, forecasts and projections and include, without limitation, statements regarding New PSGIF's anticipated class switch and current distribution policy. The forward-looking statements in this news release are based on certain assumptions; they are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading "Risk Factors" in the simplified prospectus available on the SEDAR profile of each Fund at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Pender assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.