OAKVILLE, ON, June 7, 2021 /CNW/ - Harvest Portfolios
Group Inc. ("Harvest") is pleased to announce that Big Pharma Split
Corp. (the "Company") (TSX: PRM) (TSX: PRM.PR.A) has established an
at-the-market equity program ("ATM Program") that allows the
Company to issue up to $75,000,000 of
each of the Preferred Shares and the Class A Shares of the Company
(together, the "Shares") to the public from time to time, at the
discretion of Harvest. Any Shares sold in the ATM Program will be
sold through the Toronto Stock Exchange (the "TSX") or any other
marketplace in Canada on which the
Shares are listed, quoted or otherwise traded at the prevailing
market price at the time of sale.
The volume and timing of the distributions under the ATM
Program, if any, will be determined at Harvest's sole discretion.
The ATM Program will be effective until December 04, 2022, unless terminated prior to
such date by the Company. The Company intends to use the proceeds
from the ATM Program in accordance with the investment objectives
and strategies of the Company to invest in an equally-weighted
portfolio of ten issuers comprised of equity securities selected by
Harvest from a universe of pharmaceutical issuers. In order to seek
to generate additional returns, Harvest may write call options each
month in respect to some or all of the equity securities in the
Portfolio.
Sales of the Shares through the ATM Program will be made
pursuant to the terms of an equity distribution agreement dated
June 2, 2021 (the "Equity
Distribution Agreement") with National Bank Financial Inc. (the
"Agent").
Sales of the Shares will be made by way of "at-the-market
distributions" as defined in National Instrument 44-102 Shelf
Distributions on the TSX or on any marketplace for the Shares
in Canada. Since the Shares will
be distributed at the prevailing market prices at the time of the
sale, prices may vary among purchasers during the time of
distribution. The ATM Program is being offered pursuant to a
prospectus supplement dated June 2,
2021 to the Company's short form base shelf prospectus dated
November 4, 2020. Copies of the
prospectus supplement and the short form base shelf prospectus may
be obtained from your registered financial advisor or from
representatives of the Agent and are available on SEDAR at
www.sedar.com.
The investment objectives for the Preferred Shares
(TSX:PRM.PR.A) are to provide their holders with fixed cumulative
preferential quarterly cash distributions in the amount of
$0.125 per Preferred Share
($0.50 per annum) until December 31, 2022 (the "Maturity Date") and to
return of the original issue price to holders on the Maturity
Date.
The investment objectives for the Class A Shares (TSX:PRM) are
to provide their holders with regular monthly cash distributions
targeted to be $0.1031 per Class A
Share ($1.2372 per annum) and with
the opportunity for growth in net asset value per Class A
Share.
Harvest is the manager, portfolio manager and promoter of the
Company.
About Harvest Portfolios Group Inc.
Founded in 2009, Harvest is a Canadian Investment Fund Manager
managing over $1.5 billion in assets
for Canadian Investors. Harvest offers an innovative suite of
exchange traded funds, mutual funds and publicly-listed structured
fund products designed to satisfy the long-term growth and income
needs of investors. We pride ourselves in creating trusted
investment solutions that meet the expectations of our
investors.
Commissions, management fees and expenses all may be
associated with investment funds. Investors should read the
prospectus supplement dated June 2,
2021 to the Company's short form base shelf prospectus dated
November 4, 2020 before investing.
Investment Funds are not guaranteed, their values change
frequently, and past performance may not be repeated. Please read
the Company's publicly filed documents which are available at
www.sedar.com.
SOURCE Harvest Portfolios Group Inc.
