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(GLOBE NEWSWIRE) Toronto – Purpose Investments Inc. has announced that it has decided to terminate Purpose Marijuana Opportunities Fund at the close of business on or about March 14, 2025. It is anticipated that the ETF units of Purpose Marijuana Opportunities Fund will be voluntarily delisted from the Cboe Canada Exchange at the close of business on or about March 12, 2025.
The decision to close the Fund was driven primarily by the Fund’s relatively low assets under management, which has made it difficult to efficiently manage the Fund in accordance with its intended investment objective. As a result, in the view of Purpose, the termination is in the best interest of unitholders.
Unitholders that hold Class A Units, Class F Units or ETF Units will have the option to redeem their Units at net asset value on or prior to the Termination Date. There will be no fees or redemption charges applicable to such redemptions. Holders of ETF Units of the Fund may continue to trade their ETF Units on the Cboe Canada Exchange until the Delisting Date.
All units not redeemed prior to the Fund’s closure will be automatically redeemed at that time at net asset value, in accordance with the terms of the master declaration of trust of the Fund. Units still outstanding at 4:00 p.m. EST on the Termination Date will be automatically redeemed, with the proceeds either deposited into the unitholder’s account or a cheque mailed directly to the unitholder or to their dealer, nominee or intermediary, as applicable.
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If required, a final distribution for the Fund will occur on or about the Termination Date.
There may be tax implications for unitholders with respect to any disposition of Units.
About Purpose Investments Inc.
Purpose Investments Inc. is an asset management company with more than $20 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
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