TORONTO, March 24, 2023 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (“BlackRock”) (NYSE: BLK) today announced the exchange ratios for the mergers of certain iShares exchange-traded funds.

As announced on March 1, 2023 and March 13, 2023, unitholders approved the merger of each of the merging iShares exchange-traded funds (“Merging ETFs”) into the applicable continuing iShares exchange-traded funds (“Continuing ETFs”), as set forth in the table below (the “Mergers”), effective on or about March 27, 2023. Each of the Merging ETFs will be terminated following the Mergers.

The exchange ratio determines the number of whole units of the Continuing ETFs existing unitholders will receive for each unit they hold of the applicable Merging ETF. Unitholders will receive cash in lieu of any fractional units. The exchange ratio was calculated based on the respective net asset values of both the Merging ETFs and Continuing ETFs as of market close on March 24, 2023.

Unitholders of the Merging ETFs are not required to take any action in order to become unitholders of the Continuing ETFs.

The Mergers will take place on a taxable basis. The final cash distribution amounts for each Merging ETF were included in the press release dated March 21, 2023. The final distribution amounts of the Merging ETFs are not expected to include a positive net capital gain amount.

Details of the previously announced Mergers are outlined in the joint management information circular dated January 27, 2023 which is available at www.sedar.com.

For more information about the Merging ETF and Continuing ETF, please visit www.blackrock.com/ca.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.

About iShares

iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1300+ exchange traded funds (ETFs) and US$2.91 trillion in assets under management as of December 31, 2022, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

iShares® ETFs are managed by BlackRock Asset Management Canada Limited.

Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

Contact for Media:
Reem Jazar
Email: [email protected]