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Toronto, August 17, 2018 – Ninepoint Partners LP (“Ninepoint”), on behalf of Ninepoint Energy Opportunities Trust (the “Fund”) (TSX: NRGY.UN), announced today, as described in the Fund’s initial public offering prospectus dated December 6, 2016 (the “Prospectus”), its intention to merge the Fund into Ninepoint Energy Fund (the “Continuing Fund”), on or about October 17, 2018.
The Fund is a closed-end investment fund managed by Ninepoint. The Continuing Fund is an open-end mutual fund also managed by Ninepoint. Both funds have similar investment objectives and strategies. Each fund was established to provide investors with the opportunity to access an actively managed portfolio comprised primarily of equity and equity-related securities of companies that are involved directly or indirectly in the exploration, development, production and distribution of oil, gas, coal, or uranium and other related activities in the energy and resource sector. Both funds aim to provide long-term capital growth.
The merger will be a “qualifying exchange” as defined in section 132.2 of the Income Tax Act (Canada) and will be effected on a tax-deferred basis to the Fund and unitholders of the Fund.
The merger will be effected without a vote of unitholders of the Fund as described in the Prospectus. Additional details of the merger are set out in a notice that has been sent to unitholders of the Fund and will also be available on SEDAR at www.sedar.com.
Unitholders of the Fund who do not wish to participate in the merger will have the opportunity to redeem their Fund units (“Units”) prior to the effective date of the merger. Prior to the merger, Units may be surrendered for redemption during the period from the first business day in September, 2018 until 4:00 p.m. (Toronto time) on September 21, 2018 (the “Special Redemption Notice Period”). Units properly surrendered for redemption during the Special Redemption Notice Period will be redeemed on September 27, 2018 (the “Pre-Merger Redemption Date”) and the unitholder will receive payment on or before October 12, 2018. Redeeming unitholders will receive a redemption price per Unit equal to the net asset value (“NAV”) per Unit, on the Pre-Merger Redemption Date, less any costs and expenses incurred by the Fund in order to fund such redemption, including brokerage costs, if any.
Ninepoint will apply to de-list the Units from the Toronto Stock Exchange prior to the merger date of on or about October 17, 2018.
About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $3 billion in assets under management. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets & Alternative Income.
Ninepoint is an operating company that has been created to assume portfolio management of the Canadian diversified assets of Sprott Asset Management LP, including actively managed hedge and mutual funds.
For more information on Ninepoint Partners LP, please visit www.ninepoint.com or inquiries regarding the Fund or the Continuing Fund, please contact us at (416) 943-6707 or (866) 299-9906 or firstname.lastname@example.org.