TORONTO, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Ninepoint Partners LP (Ninepoint Partners) announced today that it proposes to merge (the Merger) Ninepoint Concentrated Canadian Equity Fund (the Terminating Fund) into Ninepoint Convertible Securities Fund (the Continuing Fund). The Terminating Fund will cease to be available for sale effective immediately. Following the Merger, pre-authorized purchase plans established for purchases of units of the Terminating Fund will be immediately transferred to the equivalent series of units of the Continuing Fund. Through the Merger, holders of units of each series of the Terminating Fund will receive units of the same series of the Continuing Fund determined on a dollar-for-dollar basis.
The Independent Review Committee has reviewed the potential conflict of interest matters related to the proposed Merger and has provided Ninepoint Partners with a positive recommendation having determined that the Merger, if implemented, will achieve a fair and reasonable result for each of the Terminating Fund and the Continuing Fund.
Ninepoint Partners will seek approval for the Merger from unitholders of the Terminating Fund at a special meeting to be held on or about March 12, 2021, and from the applicable securities regulator. Next month, further details of the Merger will be sent to investors in the Terminating Fund who are entitled to vote. If the required approvals from the unitholders and securities regulator are obtained, the Merger will be effective on or about March 19, 2021. As soon as practicable following the Merger, the Terminating Fund will be wound up.
About Ninepoint Partners
Based in Toronto, Ninepoint Partners is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint Partners offers a diverse set of alternative strategies including Alternative Income and Real Assets, in addition to North American and Global Equities.
For more information on Ninepoint Partners, please visit www.ninepoint.com or please contact us at (416) 943-6707 or (866) 299-9906 or firstname.lastname@example.org.
Ninepoint Partners LP