Le Lézard
Classified in: Business
Subjects: DIV, ACC

First Asset Announces Approval of Mergers for Convertible Debenture Closed-End Funds


/NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA./

TORONTO, Nov. 1, 2018 /CNW/ - First Asset Investment Management Inc. ("First Asset") announces that the unitholders of each of First Asset Diversified Convertible Debenture Fund (TSX: DCD.UN), First Asset Canadian Convertibles Fund (TSX: ADC.UN) and First Asset North American Convertibles Fund (TSX: NCD.UN) (each, a "Fund and collectively, the "Funds") have approved the merger (each, a 'Merger" and collectively, the "Mergers") of the applicable Fund into First Asset Canadian Convertible Bond ETF (TSX: CXF) (the "Continuing Fund"), pursuant to which all unitholders of that Fund will become holders of common units of the Continuing Fund.  

Unitholders who do not wish to participate in a Merger may redeem their units at net asset value prior to the Merger.  In order to redeem all or a portion of their units, unitholders must inform their broker or other intermediary.  Brokers and other intermediaries must provide final notice of all such redemptions to CDS Clearing and Depository Services Inc. by 5:00 p.m. (Toronto time) on November 14, 2018. Therefore, unitholders who wish to redeem should inform their broker or other intermediary as soon as possible, as such brokers and intermediaries may have cut-off deadlines that are earlier than 5:00 p.m. (Toronto time) on November 14, 2018. 

First Asset currently anticipates that the Mergers will be implemented in December, 2018, and will issue a press release confirming the date of the Mergers once known.  The completion of any Merger is not conditional upon the completion of any other Merger.

Unitholders are not required to take any action in connection with a Merger unless they wish to redeem their units as described above.

First Asset ? Smart SolutionsTM
First Asset, a CI Financial Company, is a Canadian investment firm delivering a comprehensive suite of smart ETF solutions. Rooted in strong fundamentals, First Asset's smart solutions strive to deliver better risk-adjusted returns than the broad market, while helping investors achieve their personal financial goals.

This communication is intended for informational purposes only. Please read the prospectus before investing. Important information about a fund is contained in its prospectus. Individuals should seek the advice of professionals, as appropriate, prior to investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Commissions, management fees and expenses all may be associated with an investment in the funds. You will usually pay brokerage fees to your dealer if you purchase or sell units of a fund on the TSX. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of a fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of a fund. A fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents.

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", "anticipates", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of First Asset regarding future results or events and are based on information currently available to them. 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. First Asset believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, First Asset can give no assurance 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. 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. First Asset 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. TMFirst Asset and its logo are trademarks of First Asset Capital Corp., a wholly-owned subsidiary of CI Financial Corp. which is listed on the Toronto Stock Exchange under the symbol "CIX". ®CI FINANCIAL is a registered trademark of CI Investments Inc., used under license.

SOURCE First Asset


These press releases may also interest you

at 11:19
On 29 March 2024, BTR New Material Group Co., Ltd. ("BTR")(835185.BJ), a global leader in battery materials, inked an investment agreement with the Moroccan government to erect a lithium battery ternary cathode material facility in the country. The...

at 11:08
AERKOMM Inc. (Euronext: AKOM, OTCQX: AKOM, "AERKOMM"), an innovative satellite technology company providing multi-orbit broadband connectivity solutions, and IX Acquisition Corp , a SPAC focused on the technology, media and telecommunications...

at 11:00
American Bureau of Shipping, CALAMCO, Fleet Management Limited, Sumitomo Corporation and TOTE Services, LLC ("TOTE Services") today announced the execution of a Memorandum of Understanding (MOU) to jointly conduct a feasibility study (hereinafter...

at 10:30
Unifi Aviation is making a pledge to employ 500 refugees over the next three years, a commitment the company made at the second annual TENT U.S. Business Summit on Refugees hosted by Pfizer at its global headquarters in New York City on March 26....

at 10:15
Today, Investopedia announced the winners of its 2024 Best Online Broker Awards, featuring 14 categories highlighting winners whose products and services helped investors navigate rising but volatile markets, a crypto resurgence, and new assets like...

at 10:12
NerdsToGo®, a leading information technology (IT) solutions and technology repair services franchise for both business and home, announced today plans for its strategic expansion throughout the greater Chicago area with 20 new territories available...



News published on and distributed by: