NexC Partners Corp. Announces Shareholder Approval

TORONTO, Oct. 10, 2017 (GLOBE NEWSWIRE) -- NexC Partners Corp. (the “ Company ”), (TSX: NXC ) is pleased to announce that at a special meeting held today, holders of Class A shares, Class F shares and Class J shares of the Company (collectively, the “ Shareholders ”), each voting separately as a class, approved a special resolution adopting a proposal that will result in the conversion of the Company into an open-end fund by way of a merger of the Company into Purpose Enhanced Dividend Fund (“ PDIV ”) (the “ Proposal ”). PDIV is a newly established investment fund with substantially similar investment objectives and strategies as the Company, that will be managed by Purpose Investments Inc., the manager of the Company. It is expected that the merger will become effective on or about January 2, 2018 (the “ Effective Date ”).

On the Effective Date, holders of Class A shares of the Company will receive ETF shares of PDIV and holders of Class F shares and Class J shares of the Company will receive Series F shares of PDIV determined based on an exchange ratio established as at the close of trading on the business day immediately preceding the Effective Date.

Details of the merger are outlined in an information circular that was sent to Shareholders in connection with the special meeting. Copies of the information circular are available on www.sedar.com and www.purposeinvest.com .  

A Shareholder who does not wish to continue their investment in the Company may redeem their Class A shares, Class F shares and/or Class J shares, as the case may be, on December 27, 2017 (the “ Special Redemption Right ”) for a redemption price equal to the net asset value per Class A share, Class F share or Class J share, as applicable, as of the effective date of redemption provided that such Shareholder gives notice that they wish to exercise such Special Redemption Right on or prior to December 15, 2017.

About Purpose Investments Inc.

Purpose Investments is an asset management firm inspired by the belief that all investors should have access to great investment products along with low fees. Purpose believes in focusing first on managing risk and creating value that is currently missing from the marketplace, thus empowering all Canadians to be better investors. Purpose has over $3.5 billion in assets under management and currently offers 38 exchange traded funds and mutual funds and 7 closed-end funds across multiple asset classes and both traditional and alternative investment strategies.

For further information please contact:

Nancy Turner Purpose Investments Inc. Tel: (877) 789-1517 Email: nancyt@purposeinvest.com

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. The indicated rates of return are the historical annual compounded total returns including change in share/unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.