Shareholders of Trident Performance Corp. and Trident Performance Corp. II Approve Terminations

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Shareholders of Trident Performance Corp. and Trident Performance Corp. II Approve Terminations

Canada NewsWire

TSX Symbol: TCZ, TCP

TORONTO, Aug. 10, 2016 /CNW/ - Trident Performance Corp. ("Trident") and Trident Performance Corp. II ("Trident II", and together with Trident, the "Corporations") are pleased to announce that at a special meeting of shareholders of each Corporation held today, shareholders approved the previously announced proposal to dissolve the Corporations following the liquidation and distribution of the assets of each Corporation (the "Terminations").

The Corporations expect to distribute to shareholders, on a pro rata basis, the net proceeds from the liquidation of the assets of the Corporations, less all liabilities and expenses of the Corporations, in late August 2016 and to formally dissolve the Corporations in October 2016. 

In connection with the Terminations, the Class A shares of the Corporations are expected to be de-listed from the Toronto Stock Exchange, at the request of the Corporations, at the close of business on August 24, 2016. 

Each Corporation currently obtains exposure to a portfolio held by the Trident Performance Trust (the "Reference Fund") through a forward agreement.  On or about the date that the Class A shares are de-listed, the Corporations will pre-settle the forward agreements and the Reference Fund will also be terminated.

Forward looking information

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", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of the Corporations and the managers of the underlying portfolios 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. Each Corporation believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, the Corporations 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, including the matters discussed under "Risks Factors" in the annual information forms of Trident and Trident II dated March 29, 2016. 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. The Corporations undertake 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 CI Financial Corp.

Copyright CNW Group 2016

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