/NOT FOR DISSEMINATION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA./
TORONTO, Oct. 26, 2016 /CNW/ - Further to its press
release dated August 15, 2016, First
Asset Investment Management Inc. ("First Asset"), the
manager of Preferred Share Investment Trust (the "Fund")
(TSX: PSF.UN), announces that the Fund will merge into First Asset
Preferred Share ETF (TSX: FPR) (the "ETF") after the close
of business on Tuesday, November 1,
2016.
Unitholders will not be required to take any action in
connection with the merger. After the merger, former
unitholders of the Fund will become unitholders of the ETF.
The merger will be completed on the basis of an exchange ratio
determined with reference to the net asset value per unit of the
Fund and of the ETF as at the close of business on November 1, 2016. First Asset will confirm
the exchange ratio and completion of the merger by way of a press
release.
First Asset – Smart SolutionsTM
First
Asset, a CI Financial Company, is a Canadian investment firm
delivering a comprehensive suite of smart ETF solutions. 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.
TMFirst Asset and its logo are trademarks of First
Asset Capital Corp., a wholly-owned subsidiary of CI Financial
Corp. which is listed on the Toronto Stock Exchange under the
symbol "CIX". ®CI FINANCIAL is a registered
trademark of CI Investments Inc., used under license. This press
release contains forward-looking statements and information within
the meaning of applicable securities legislation. Forward-looking
statements can be identified by the expressions "seeks", "expects",
"believes", "anticipates", "estimates", "will", "target" and
similar expressions. The forward-looking statements are not
historical facts but reflect the current expectations of First
Asset regarding future results or events and are based on
information currently available to them. Certain material factors
and assumptions were applied in providing these forward-looking
statements. All forward-looking statements in this press release
are qualified by these cautionary statements. First Asset believes
that the expectations reflected in forward-looking statements are
based upon reasonable assumptions; however, First Asset can give no
assurance that the actual results or developments will be realized.
These forward-looking statements are subject to a number of risks
and uncertainties that could cause actual results or events to
differ materially from current expectations. Readers, therefore,
should not place undue reliance on any such forward-looking
statements. Further, a forward-looking statement speaks only as of
the date on which such statement is made. First Asset undertakes no
obligation to publicly update any such statement or to reflect new
information or the occurrence of future events or circumstances
except as required by securities laws. These forward-looking
statements are made as of the date of this press release.
SOURCE First Asset Close-End Funds