Subject: MUTUAL FUNDS
Purpose Investments Inc. Announces Payouts Relating to the Termination of Black Diamond Global Equity Fund, Black Diamond Impact Core Equity Fund, and Black Diamond Global Enhanced Income Fund
TORONTO, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Purpose Investments Inc. ("Purpose") announced today additional information regarding the termination of Black Diamond Global Equity Fund (TSX: BDEQ), Black Diamond Impact Core Equity Fund (TSX: BDIC) and Black Diamond Global Enhanced Income Fund (collectively, the "Funds" and each, a "Fund"), that was announced on December 19, 2023.
On February 20, 2024, Purpose redeemed all of the issued and outstanding Class A units, Class F units and Class I units of each Fund, the ETF units of Black Diamond Global Equity Fund and Black Diamond Impact Core Equity Fund and the Class TA3 units and Class TF3 units of Black Diamond Global Equity Fund (collectively, the "Units"), all in accordance with applicable securities law and the terms of the Funds' amended and restated declaration of trust.
The ETF Units were delisted from the Toronto Stock Exchange on February 14, 2024. The proceeds from the liquidation of the assets, less all liabilities and expenses incurred in connection with this termination of the Funds (the "Termination Proceeds"), were determined on February 20, 2024.
Fund securityholders will receive the following amounts on or about February 23, 2024, in connection with the termination of the Funds, and no action is required to be taken by securityholders to receive such amounts. The breakdown of taxable amounts of cash distributions pertaining to the ETF Units of each Fund detailed in the table below, including tax factor allocations, will be reported to the brokers through CDS Clearing and Depository Services Inc. in early 2025, and the Final Distribution will be applicable for the 2024 tax year.
| Terminating Fund | Class of Units | Ticker / Fund SERV | Final Distribution | Post-Distribution Net Asset Value per Unit | Termination Proceeds per Unit | |||
| Capital Gain per Unit | Income Per Unit | |||||||
| Black Diamond Global Equity Fund | ETF Units | BDEQ | - | - | $6.6072 | $6.6072 | ||
| Class A Units | PFC6400 | - | - | $7.2099 | $7.2099 | |||
| Class F Units | PFC6401 | - | - | $7.3238 | $7.3238 | |||
| Class I Units | PFC6402 | - | - | - | - | |||
| Class A Units USD | PFC6410 | - | - | - | - | |||
| Class F Units USD | PFC6411 | - | - | - | - | |||
| Class TA3 Units | PFC6403 | - | - | - | - | |||
| Class TF3 Units | PFC6405 | - | - | - | - | |||
| Black Diamond Impact Core Equity Fund | ETF Units | BDIC | $2.2126 | - | $19.7747 | $21.9873 | ||
| Class A Units | PFC7400 | $2.1716 | - | $19.4072 | $21.5788 | |||
| Class F Units | PFC7401 | $2.2124 | - | $19.7732 | $21.9856 | |||
| Black Diamond Global Enhanced Income Fund | Class A Units / Class A USD Units | PFC6600 / PFC6610 | - | - | $16.7478 $12.3851 USD | $16.7478 $12.3851 USD | ||
| Class F Units / Class F USD Units | PFC6601/ PFC6611 | - | - | $17.2107 $12.7275 USD | $17.2107 $12.7275 USD | |||
| Class I Units | PFC6602 | - | - | - | - | |||
In Canadian Dollars (CAD) unless stated otherwise.
About Purpose Investments
Purpose Investments is an asset management company with more than $19 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
For further information, please contact:
Keera Hart
[email protected]
905-580-1257
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