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Spartan Fund Management Inc. terminates StoneCastle Cannabis Growth Fund

Grow Opportunity, Media Partners

This post is presented by our media partner Grow Opportunity
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(Globe Newswire) Toronto – Spartan Fund Management Inc. intends to terminate StoneCastle Cannabis Growth Fund, effective on or about March 24, 2023. Effective today, units of the fund will no longer be available for purchase by new or existing unitholders.

Current unitholders of the fund are encouraged to contact their investment advisers to discuss their options. At any time before 4:00 PM ET on the termination date, unitholders may redeem or switch their units of the fund into units of the MM Fund, another mutual fund managed by Spartan.

Spartan will waive any short-term trading fees and redemption fees charged in connection with redemptions or switches of units of the fund prior to termination.

Spartan will send a notice to each investor in the fund regarding the termination of the fund.

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Any unitholder that does not redeem or switch their units by the close of business on the termination date will receive proceeds equal to their proportionate share of all property and assets of the fund attributable to the applicable series of units of the fund owned by that unitholder, which is expected to be the series net asset value per unit on the termination date multiplied by the number of units of that series held.

This post was originally published by our media partner here.