Press Release

Ninepoint Partners LP Announces Proposed Fund Mergers

TORONTO, Oct. 16, 2017 (GLOBE NEWSWIRE) -- Ninepoint Partners LP (Ninepoint Partners) announced today that it proposes to merge (each a Merger and collectively, the Mergers) Sprott Focused Global Balanced Class into Sprott Focused Global Dividend Class and Sprott Focused U.S. Balanced Class into Sprott Focused U.S. Dividend Class (each a Fund and collectively, the Funds). Each of Sprott Focused Global Balanced Class and Sprott Focused U.S. Balanced Class (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 immediately transferred to the equivalent series of securities of the applicable continuing fund. 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 has reviewed the potential conflict of interest matters related to the proposed Mergers and has provided the Manager with a positive decision having determined that the proposed Mergers, if implemented, achieve a fair and reasonable result for each of the Funds.

Ninepoint Partners will seek the approval of the securityholders of each 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 December 1, 2017.  Later this month, 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 December 4, 2017.  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.

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Corey Goldman