TORONTO, Feb. 5, 2016 /CNW/ - Auspice Capital
Advisors Ltd. ("Auspice"), the manager and trustee of the Canadian
Crude Oil Index ETF (the "ETF") (CCX:TSX), is providing an
update to the consolidation ratios for the unit consolidations of
the ETFs previously announced on January
26th, 2015.
Unit Consolidation: After the close of trading on
Friday, February 12, 2016 on the
Toronto Stock Exchange (the "TSX"), the units of the ETF
will be consolidated on the basis of the ratio (the
"Consolidation Ratio") set out below, and will begin trading
on a post consolidated basis on Tuesday,
February 16, 2016, the effective date of the
consolidation:
|
|
|
|
ETF
|
Ticker
|
Original
Consolidation
Ratio
|
Final
Consolidation
Ratio
|
Canadian Crude Oil
Index ETF
|
CCX
|
1 : 4
|
1 : 2
|
When a unit consolidation occurs, the net asset value per unit
is increased by the same ratio as the unit consolidation so that
the unit consolidation has no impact on the value of the investor's
total unit position. An investor's cost per unit is also increased
by the same ratio as the unit consolidation, although their total
cost remains unchanged.
No fractional units will be issued. Where the consolidation
results in a fractional unit, the number of post-consolidation
units will be rounded down to the nearest whole unit, in the case
of a fractional interest that is less than 0.5, or rounded up to
the nearest whole number, in the case of a fractional interest that
is 0.5 or greater. Unitholders of the ETF do not need to take any
action. Unitholders will have their brokerage accounts
automatically updated to reflect the unit consolidations.
Commissions, trailing commissions, management fees and
expenses all may be associated with an investment in the ETF. The
ETF is not guaranteed. Its value changes frequently and past
performance may not be repeated. Please read the prospectus before
investing.
The firm's Canadian Crude Oil Index ETF (TSX: CCX) capitalizes
on the current market's performance by replicating the returns that
an investor would expect to receive from holding and rolling the
contracts encapsulated within the benchmark index, the Canadian
Crude Index (CCITM), ticker CDNCRUDE. The CCI
allows investors to identify opportunities and speculate outright
on the price of Canadian crude oil. Outside of the wholesale
marketplace, the CCX ETF is the only way to invest within the
commodity.
About Auspice Capital Advisors, Ltd.
Auspice is Calgary Canada based fund manager of
non-correlated alternatives which since 2006 has partnered with
global institutional and retail clients. Led by a respected
portfolio management team with institutional pedigree from an
Energy major and Canadian bank, Auspice employs a disciplined,
rules-based approach to investment management and manages a suite
of award-winning and innovative investment products available in a
variety of delivery mechanisms (funds, ETFs, indices, managed
accounts).
Auspice is registered as a portfolio manager (IFM, CTM, EMD)
in Canada and a CTA with the NFA. Auspice is the manager
and trustee of the ETF, and is responsible for providing or
arranging for the administrative and third party services required.
For more information, please visit www.auspicecapital.com.
SOURCE Auspice Capital Advisors Ltd.