/NOT FOR DISSEMINATION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA./
TORONTO, Oct. 21, 2015 /CNW/ - First Asset Investment
Management Inc. ("First Asset"), the Manager and Trustee of
First Asset Can-Materials Covered Call ETF (TSX: MXF, MXF.A)
and First Asset Can-Energy Covered Call ETF (TSX: OXF,
OXF.A) (together, the "First Asset ETFs")
announced today that it intends to consolidate the units (the
"Units") of the First Asset ETFs as described below (the
"Consolidation").
After the close of trading on the Toronto Stock Exchange (the
"TSX") on Friday, November 6,
2015, the Units of the First Asset ETFs will be consolidated
on the basis of the ratio (the "Consolidation Ratio") set
out in the table below, and such Units will begin trading on a
post-Consolidated basis on Monday, November
9, 2015, the effective date of the Consolidation.
ETF
|
Units
|
TSX
Ticker
|
Consolidation
Ratio
|
First Asset
Can-Materials Covered
Call ETF
|
Common
Units
|
MXF
|
1:4
|
Advisor
Units
|
MXF.A
|
1:4
|
First Asset
Can-Energy Covered Call
ETF
|
Common
Units
|
OXF
|
1:4
|
Advisor
Units
|
OXF.A
|
1:4
|
Following the Consolidation, the net asset value per Unit will
be increased by the same ratio as the Consolidation Ratio, such
that the Consolidation will have no impact on the value of an
investor's aggregate holding of Units. Similarly, an
investor's cost per Unit is also increased by the same ratio as the
Consolidation Ratio, however investors will hold fewer Units, so
the aggregate cost of an investor's Units will remain the same.
No fractional Units will be issued in the Consolidation.
Where the Consolidation would result in a fractional Unit, the
number of post-Consolidation Units will be rounded down to the
nearest whole post-Consolidation Unit in the case of a fractional
interest that is less than 0.5, or rounded up to the nearest whole
post-Consolidation Unit, in the case of a fractional interest that
is 0.5 or greater.
Unitholders are not required to take any action in connection
with the Consolidation.
First Asset - Smart SolutionsTM
First
Asset is an independent investment firm, focused on providing
smart, low cost solutions that address the real-world investment
needs of Canadians - capital appreciation, income generation and
risk mitigation. 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. This offering is made only by prospectus. The prospectus
contains important detailed information about the First Asset ETFs
and the Units. A copy of the prospectus may be obtained from your
investment advisor, First Asset or at www.sedar.com. Investors
should read the prospectus before making an investment decision.
Commissions, trailing fees, management fees and expenses all may be
associated with investments in the First Asset ETFs. The First
Asset ETFs are managed by First Asset Investment Management
Inc.
SOURCE First Asset Exchange Traded Funds