TORONTO--(BUSINESS WIRE)--

(“CI GAM”) announced today that it has received the required securityholder approval to merge three exchange-traded funds (each, a “Terminating ETF”) into (the “Continuing ETF”). The mergers, which were first announced in December 2022, were approved at securityholder meetings held yesterday and will be implemented after the close of business on or about March 31, 2023.

The details of the proposed mergers are listed below. All of the ETFs trade on the TSX.

The mergers will be effected on a non-taxable basis, and the costs and expenses associated with the mergers are being borne by CI GAM, not the Terminating ETFs. The Independent Review Committee of the Terminating ETFs reviewed the proposed mergers with respect to potential conflict of interest matters and provided its positive recommendation, having determined that the changes achieve a fair and reasonable result for each of the Terminating ETFs.

About CI Global Asset Management

CI Global Asset Management is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the Web at . CI Global Asset Management is a subsidiary of (TSX: CIX), an integrated global asset and wealth management company with approximately $391.6 billion in assets as at January 31, 2023.

Commissions, management fees and expenses all may be associated with an investment in exchange-traded funds (ETFs). You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. Please read the prospectus before investing. Important information about an exchange-traded fund is contained in its prospectus. ETFs are not guaranteed; their values change frequently, and past performance may not be repeated.

The CI Exchange-Traded Funds (ETFs) are managed by CI Global Asset Management, a wholly-owned subsidiary of CI Financial Corp. (TSX: CIX). CI Global Asset Management is a registered business name of CI Investments Inc.

MSCI is a trademark of MSCI Inc. The MSCI indexes have been licensed for use for certain purposes by CI Global Asset Management (“CI GAM”) in connection with the CI ETFs (the “ETFs”). The ETF and the securities referred to herein are not sponsored, endorsed or promoted by MSCI Inc. or any of its affiliates (collectively, “MSCI”) and MSCI bears no liability with respect to any such fund or securities or any index on which such fund or securities are based. The ETF’s prospectus contains a more detailed description of the limited relationship MSCI has with CI GAM and any related funds.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.

©CI Investments Inc. 2023. All rights reserved.

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