TORONTO, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Redwood Asset Management Inc. (the “Manager”), the manager of Canadian 50 Advantaged Preferred Share Fund (“Canadian 50”) (TSX:CPF.UN), announced today the exchange ratios for the merger (the “Merger”) of Canadian 50 and the Redwood Canadian Preferred Share Fund (the “Continuing Fund”) (NEO:RPS).

Pursuant to the Merger, each holder of Class A units and Class F units of Canadian 50 will automatically receive 0.701142 ETF units and 0.735713 ETF units, respectively, of the Continuing Fund for each Class A unit and Class F unit of Canadian 50 held, on the effective date of the Merger (December 22, 2017).  No fractional ETF units of the continuing fund or cash in lieu thereof will be issued or paid under the merger.

Holders of Class F units of Canadian 50 will receive ETF units of the Continuing Fund on the effective date of the Merger and not Class F units of the Continuing Fund as originally contemplated. This should provide greater liquidity for such holders at the same management fee.

Units of Canadian 50 were delisted from the Toronto Stock Exchange at the close of business on December 21, 2017. Unitholders of Canadian 50 are not required to take any action in order to become unitholders of the Continuing Fund.

Details of the Merger are outlined in the joint management information circular of Canadian 50 dated October 3, 2017, available on www.sedar.com.  

About Redwood Asset Management Inc.

Redwood Asset Management Inc. is a Toronto-based investment fund manager, focused on delivering unique investment solutions managed by boutique global investment managers to Canadian investors. Redwood Asset Management Inc. is a wholly owned subsidiary of Purpose Investments Inc., which has over $4.9 billion in assets under management. More information about Redwood’s product offerings is available at www.redwoodasset.com.

CONTACT INFORMATION

Redwood Asset Management Inc.
Peter Shippen, President and CEO
T: 1.877.789.1517
Email: [email protected]

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