TORONTO, Dec. 8, 2017 /CNW/ - LOGiQ Asset Management Inc. ("LOGiQ", or the "Company") (TSX:LGQ) today held the adjourned special meetings (the "Meetings") of the holders (the "Shareholders") of the common shares in the capital of the Company and the holders (the "Debentureholders") of the Company's 7.00% senior unsecured convertible debentures due June 30, 2021 (the "Debentures").

On September 11, 2017, the Company entered into an agreement with Purpose Investments Inc. (the "Purchaser") pursuant to which, and subject to the terms and conditions thereof, the Purchaser agreed to acquire and the Company agreed to sell the asset management agreements and related assets relating to all of the retail investment funds (the "Funds") currently managed by LOGiQ Asset Management Ltd., LOGiQ Capital Partners Inc. and LOGiQ Capital 2016, the Company's registered subsidiaries (the "Transaction"). The purpose of the Meetings was to consider and approve special resolutions to approve the Transaction, as well as certain amendments (the "Debenture Amendments") to the indenture governing the Debentures (the "Indenture").

At the Meeting, Shareholders and Debentureholders approved the special resolutions approving the Transaction and the Debenture Amendments. Complete details regarding the matters considered at the Meetings were outlined in the joint management information circular dated October 11, 2017 (the "Circular"), as supplemented by a Supplement to the Circular dated November 13, 2017 (the "Supplement"). The Circular and the Supplement are also available at www.sedar.com.

As a result of the approval of the Debenture Amendments, the Indenture was amended today to prohibit the Company from:

if doing so would reduce the Company's ability to repay the Debentures or unless such transactions are expressly contemplated by the Circular, as amended by the Supplement.

These additional restrictions will fall away if the Transaction does not close, or if the aggregate principal amount of Debentures tendered for retraction is not in excess of $15,170,000, and will otherwise continue until the Debentures' maturity date or the Debentures are redeemed in full.

The closing of the Transaction, which is expected to occur on or about December 15, 2017, is subject to a number of conditions precedent, including all required securities regulatory and stock exchange approvals, and satisfaction of other customary closing conditions.

LOGiQ (logiqasset.com) is a diversified asset management company with a suite of retail mutual funds, closed end funds, hedge funds and pooled funds, and also provides segregated institutional managed accounts and institutional advisory sales.  Excluding the retail assets under management that are the subject of the Transaction, LOGiQ has assets under management or advisement, and institutional advisory sales-related fee earning arrangements that are not managed or advised, totaling approximately $3.5 billion as at August 11, 2017.

SOURCE LOGiQ Asset Management Ltd.