Canoe EIT Income Fund Announces 2021 Voluntary Cash Redemption
October 08 2021 - 4:00PM
Canoe EIT Income Fund (“Canoe” or the “Fund”)(TSX - EIT.UN) today
announced the 2021 voluntary cash redemption.
Voluntary Annual Cash Redemption
The redemption date for the Fund’s annual voluntary cash
redemption will be December 10, 2021. Unitholders are entitled to
redeem units of the Fund at a price equal to 95% of the Average Net
Asset Value (NAV) of the three trading days preceding the December
10, 2021 redemption date, less direct costs. Direct costs are
expected to be less than 1%. If all redemption requests exceed 10%
of the aggregate outstanding units of the Fund on November 18,
2021, the final day to submit units for redemption, the Fund will
process redemptions to this maximum on a pro-rata basis based on
the total number of units tendered. Payment for units that have
been tendered and accepted for redemption will be made on or before
January 5, 2022.
Unitholders wishing to redeem their units must provide notice of
their intent to do so with their investment advisor or brokerage
office no later than November 18, 2021. Please note that investment
firms may impose an earlier deadline in order to facilitate the
processing of redemption requests. Unitholders are strongly urged
to consult their investment advisor or brokerage office directly to
confirm their internal deadlines. Registered unitholders (those who
hold a physical share certificate in their name) should contact the
Fund’s transfer agent, Alliance Trust Company, at 403-237-6111 to
redeem their units. Units that have been submitted for redemption
will remain eligible for the October 2021 and November 2021
distributions, which are paid in November 2021 and December 2021,
respectively.
Please note that any redemption requests made by non-resident
unitholders may be subject to withholding tax.
Key Dates
October 9 - November 18, 2021 |
Unitholders may tender units for redemption |
December 7, 8 & 9, 2021 |
Redemption price determined based on average NAV of these trading
days |
December 10, 2021 |
Redemption date |
January 5, 2022 |
Payment of redemption proceeds on or before this date |
About Canoe EIT Income Fund
Canoe EIT Income Fund is one of Canada’s largest closed-end
investment funds, designed to maximize monthly distributions and
capital appreciation by investing in a broadly diversified
portfolio of high quality securities. The Fund is listed on the TSX
under the symbols EIT.UN, EIT.PR.A and EIT.PR.B, and is actively
managed by Robert Taylor, Portfolio Manager and Head of Equities,
Canoe Financial.
About Canoe Financial
Canoe Financial is one of Canada’s fastest growing independent
mutual fund companies managing over $10.5 billion in assets across
a diversified range of award-winning investment solutions. Founded
in 2008, Canoe Financial is an employee-owned investment management
firm focused on building financial wealth for Canadians. Canoe
Financial has a significant presence across Canada, including
offices in Calgary, Toronto and Montreal.
ContactInvestor
Relations1–877–434–2796info@canoefinancial.com
Not for Distribution to U.S. Newswire
Services or for Dissemination in the United States of
America.
The Fund makes monthly distributions of an
amount comprised in whole or in part of Return of Capital (ROC) of
the net asset value per unit. A ROC reduces the amount of your
original investment and may result in the return to you of the
entire amount of your original investment. ROC that is not
reinvested will reduce the net asset value of the fund, which could
reduce the fund’s ability to generate future income. You should not
draw any conclusions about the Fund’s investment performance from
the amount of this distribution. Commissions, trailing commissions,
management fees and expenses all may be associated with investment
funds. Please read the information filed about the Fund on
www.sedar.com before investing. Investment funds are not guaranteed
and past performance may not be repeated. This communication is not
to be construed as a public offering to sell, or a solicitation of
an offer to buy securities. Such an offer can only be made by way
of a prospectus or other applicable offering document and should be
read carefully before making any investment. This release is for
information purposes only. Investors should consult their
Investment Advisor for details and risk factors regarding specific
strategies and various investment products.
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