Gold Miners Split Corp. Announces Exchange Ratios

Not for distribution to U.S. newswire services or for dissemination in the United States.

TORONTO, May 17, 2019 (GLOBE NEWSWIRE) -- Evolve Funds Group Inc. ("Evolve"), on behalf of Gold Miners Split Corp. (the "Company"), is pleased to announce the exchange ratios for the exchange option (the "Exchange Option") with respect to its initial public offering of up to 2,000,000 class A shares (the "Class A Shares") and 2,000,000 preferred shares (the "Preferred Shares") at a price of $10 per Preferred Share and $15 per Class A Share, for a maximum offering size of $50,000,000. Under the Exchange Option, prospective purchasers can purchase Class A Shares or units (consisting of one Class A Share and one Preferred share) (each, a "Unit") of the Company by an exchange of freely tradable equity securities ("Exchange Securities") of the issuers listed below (the "Exchange Eligible Issuers"). The Exchange Option deadline was 5:00 p.m. (Toronto time) on May 10, 2019.

The following table indicates the ticker symbol, ISIN, CUSIP number, adjusted volume weighted average trading price ("Adjusted VWAP"), exchange ratio per Class A Share and exchange ratio per Unit for the Exchange Securities of each Exchange Eligible Issuer as calculated in the manner described in the Company's prospectus dated April 26, 2019. The adjusted volume weighted average trading price and exchange ratios are rounded to four decimal places. Fractional Class A Shares/Units will not be issued.

The list of Exchange Eligible Issuers below only includes those in respect of which Exchange Securities were deposited before the Exchange Option deadline.

Neo Exchange Inc. (the "Exchange") has conditionally approved the listing of the Class A Shares and Preferred Shares, subject to the Company fulfilling all customary requirements. Trading under the symbols GLC and GLC.PR.A is expected to commence on the anticipated closing date of the Offering, being May 24, 2019.

The Company will invest in a portfolio (the "Portfolio") comprised primarily of common shares of gold mining issuers included in the S&P/TSX Global Gold Index, the NYSE Arca Gold Miners Index and/or the MVIS Global Junior Gold Miners Index.

The investment objectives for the Preferred Shares are (i) to provide holders of Preferred Shares with cumulative preferential quarterly cash dividends, the amount of which is fixed by the board of directors of the Company in respect of each three-year term of the Company; and (ii) on May 31, 2022 (the "Termination Date") to pay the holders of the Preferred Shares an amount per Preferred Share equal to $10.00 per Preferred Share (the "Preferred Share Repayment Amount"). The quarterly cash distribution will be $0.15 per Preferred Share ($0.60 per annum), representing a yield of 6.0% per annum on the issue price of $10.00 per Preferred Share until the Termination Date. The Preferred Shares will not be rated.

The investment objectives for the Class A Shares are to provide the holders with the opportunity for capital appreciation through exposure to the Portfolio by paying such holders, on or about the Termination Date, subject to extension for successive terms of three years as determined by the board of directors of the Company, such amounts as remain in the Company on the Termination Date after paying the Preferred Share Repayment Amount to the holders of the Preferred Shares.

Evolve, the manager of the Company, will provide investment advisory services and portfolio management services to the Company.

The syndicate of agents includes National Bank Financial Inc., CIBC Capital Markets, BMO Capital Markets, RBC Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., Industrial Alliance Securities Inc., Raymond James Ltd., Echelon Wealth Partners Inc., GMP Securities L.P., Desjardins Securities Inc., Mackie Research Capital Corporation, Manulife Securities Incorporated and Wellington-Altus Private Wealth Inc.

About Evolve

Evolve is one of Canada's fastest growing ETF providers since launching its first suite of ETFs via the Toronto Stock Exchange in September 2017. Evolve is a leader in thematic ETFs and specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a proven track record of success, we create investment products that make a difference. For more information, please visit www.evolveetfs.com.

This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any of the above-mentioned agents. Investors should read the prospectus before making an investment decision.

There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the Company. You can find more detailed information about the Company in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this news release and to other matters identified in public filings relating to the Company, to the future outlook of the Company and anticipated events or results and may include statements regarding the future financial performance of the Company. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.