Bloom Investment Counsel, Inc. Announces Upcoming Termination of Bloom U.S. Income & Growth Fund

TORONTO, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Bloom Investment Counsel, Inc. (the "Manager"), the manager of Bloom U.S. Income & Growth Fund (the "Fund"), announced today that the Fund will terminate on November 8, 2021 (the "Termination Date").

Despite the Fund having significantly outperformed the market in recent months, the Manager has concluded that it will no longer be economically feasible to continue the Fund following this year's annual redemption of Class A and Class U units of the Fund on October 28, 2021 and, accordingly, it would be in the best interest of the Fund's unitholders to terminate the Fund on the Termination Date. The last day on which the Fund's Class A units (TSX: BUA.UN) will trade on the Toronto Stock Exchange will be November 8, 2021.

On or before November 18, 2021, the Fund will distribute to unitholders, in cash, their pro-rata share of the net assets of the Fund after all liabilities of the Fund have been paid or provided for. The amount of cash per unit that will be paid to unitholders on the termination of the Fund is expected to be substantially the same as the redemption proceeds per unit that will be paid to unitholders who redeem their units on October 28, 2021 pursuant to the Fund's annual redemption option.

For further information please contact Unitholder Information at 416-861-9941 or 1-855-BLOOM18 (1-855-256-6618) or visit www.bloomfunds.ca

Commissions, management fees and other expenses may all be associated with investment funds. Please read the Fund's publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.