Purpose Investments Inc. Announces Termination of Purpose Behavioural Opportunities Fund, Purpose US Dividend Fund and Purpose Crypto Opportunities ETF

TORONTO, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Purpose Investments Inc. ("Purpose") announced today that it has decided to terminate Purpose Behavioural Opportunities Fund, Purpose US Dividend Fund and Purpose Crypto Opportunities ETF (collectively, the "Funds") effective on March 29, 2023 (the "Termination Date").

The decision to close the Funds was driven primarily by the Funds' relatively low assets under management which has made it difficult to efficiently manage the Funds in accordance with their intended investment objectives. As a result, each termination, in the view of Purpose, is in the best interest of shareholders or unitholders, as applicable.

Purpose will redeem all of its issued and outstanding ETF shares, Series A shares and Series F shares of Purpose Behavioural Opportunities Fund (the "Shares") in accordance with the terms thereof.

Likewise, Purpose will redeem all of the issued and outstanding ETF units, ETF non-currency hedged units, Class A units, Class A non-currency hedged units, Class F units and Class F non-currency hedged units of Purpose US Dividend Fund (the "PUD Units").

Lastly, Purpose will redeem all its issued and outstanding ETF units, Canadian dollar denominated ETF non-currency hedged units, U.S. dollar denominated ETF non-currency hedged units, Class A units, Class A non-currency hedged units, Class F units, Class F non-currency hedged units, Class I units and Class I non-currency hedged units of Purpose Crypto Opportunities ETF (the "CRYP Units" and together with the PUD Units, the "Units").

The redemptions for Purpose US Dividend Fund and Purpose Crypto Opportunities ETF will be made in accordance with the terms of the master declaration of trust dated October 7, 2013, as amended and restated from time to time.

The redemption price payable for the Shares and Units will be an amount equal to the net asset value per share or unit, as applicable, of the applicable series or class on the Termination Date and will be payable to unitholders on or before March 31, 2023.

It is anticipated that (i) the ETF shares of Purpose Behavioural Opportunities Fund will be voluntarily delisted from the NEO Exchange on or about March 27, 2023, at the close and (ii) the ETF units and ETF non-currency hedged units of Purpose US Dividend Fund and the ETF units, Canadian dollar denominated ETF non-currency hedged units and U.S. dollar denominated ETF non-currency hedged units of Purpose Crypto Opportunities ETF will be voluntarily delisted from the Toronto Stock Exchange on or about March 28, 2023, at the close.

About Purpose Investments Inc.

Purpose is an asset management company with more than $14 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation, offering a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent, technology-driven financial services platform that is reshaping the industry by connecting and creating opportunities across asset management, wealth management and small business financial services.

For further information please contact:
Keera Hart
[email protected]
905-580-1257

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. The prospectus contains important detailed information about the investment fund. Please read the prospectus before investing. There is no assurance that any fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

Forward-Looking Information

Purpose cautions the reader not to place undue reliance upon any such forward-looking statements contained herein, which speak only as of the date they are made. Generally, but not always, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "on pace", "anticipates", or "does not anticipate", "believes", and similar expressions or state that certain actions, events or results "may", "could", "would", "should", "might", or "will" be taken, occur or be achieved.

Forward-looking statements are based on information available to management at the time they are made, management's current plans, estimates, assumptions, judgments and expectations. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Purpose to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties. Although the forward-looking information contained in this press release is based on assumptions that Purpose believes to be reasonable at the date such statements are made, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Purpose does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.