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TORONTO, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Ninepoint Partners LP (Ninepoint Partners) announced today that it will be accepting subscriptions for two new funds (Sprott International Small Cap Fund and Sprott Concentrated Canadian Equity Fund) in March 2018. The investment objectives for each of these funds is described below. More information about each fund is included in the simplified prospectus, annual information form and fund facts dated January 26, 2018, which can be found on www.sedar.com.
Sprott International Small Cap Fund will seek to provide unitholders with long term capital appreciation by investing primarily in a portfolio of international small capitalization equity securities of issuers in countries and industries primarily located in Europe, Japan and Asia-Pacific ex-Japan.
Sprott Concentrated Canadian Equity Fund will seek to provide unitholders with long term capital appreciation by investing primarily in a concentrated portfolio of Canadian equity securities.
Ninepoint Partners also announced that it proposes to merge (each a Merger and collectively, the Mergers) Sprott Small Cap Equity Fund into Sprott International Small Cap Fund and Sprott Canadian Equity Fund into Sprott Concentrated Canadian Equity Fund (each a Fundand collectively, the Funds). Each of Sprott Small Cap Equity Fund and Sprott Canadian Equity Fund (each a Terminating Fund and collectively, the Terminating Funds) will cease to be available for sale effective immediately and pre-authorized chequing plans established for purchases of securities of each Terminating Fund will be transferred to the equivalent series of securities of the applicable continuing fund as soon as the simplified prospectus for the continuing funds has been receipted. Through the Mergers, holders of securities of each series of each Terminating Fund will receive securities of its respective continuing fund, determined on a dollar-for-dollar basis. The Independent Review Committee of each of the Funds will review the potential conflict of interest matters related to the proposed Mergers to provide its recommendation as to whether the proposed Mergers if implemented, would achieve a fair and reasonable result for each of the Funds.
Ninepoint Partners will seek the approval of the securityholders of each Terminating Fund and the applicable securities regulator in respect of the proposed Mergers. Securityholder approval will be sought at special meetings to be held concurrently on or about the end of March 2018. In February, details of the proposed Mergers will be sent to investors in the Funds who are entitled to vote. If the requisite approvals are obtained, it is expected that the Mergers will be implemented effective on or about the end of March 2018. As soon as practicable following the Mergers, each Terminating Fund will be wound up.
About Ninepoint Partners
Ninepoint Partners is an independent investment manager committed to adding value to investors’ portfolios while helping to differentiate advisors’ businesses.
Based in Toronto, Ninepoint Partners has assumed portfolio management of the Canadian diversified assets of Sprott Asset Management (SAM), including actively managed hedge and mutual funds, while also offering leading resource and precious metals strategies through an exclusive sub-advisory relationship with SAM. The new firm oversees approximately $3 billion in assets under management.
Please visit www.ninepoint.com to learn more.
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