TORONTO, July 19, 2017 (GLOBE NEWSWIRE) -- Energy Credit Opportunities Income Fund (the “Fund”) has received approval for a normal course issuer bid to purchase up to 280,725 Class A units (“Class A Units”) and 52,699 Class U units (“Class U Units”, and together with the Class A Units, “Units”) of the Fund, representing approximately 10% of the public float of 2,807,255 Class A Units and 526,999 Class U Units, respectively.  The Fund may purchase up to 56,145 Class A Units and 10,539 Class U Units in any 30-day period, which is 2% of the 2,807,255 issued and outstanding Class A Units and 2% of the 526,999 issued and outstanding Class U Units, respectively, as at July 7, 2017.

The Units may be purchased for cancellation from July 21, 2017 to July 20, 2018 through the facilities of the Toronto Stock Exchange or Canadian alternative trading systems, and may only be purchased at a price per Unit not exceeding the last published net asset value per Unit. Purpose Investments Inc., the Manager of the Fund, believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds. The Class A Units and Class U Units of the Fund are listed for trading on the Toronto Stock Exchange under the symbols PCF.UN and PCF.U, respectively.

On July 19, 2016, the Fund announced that it was making a normal course issuer bid, which commenced July 21, 2016, to purchase up to 291,027 Class A Units and 53,217 Class U Units through the facilities of the TSX or other eligible alternative markets. The Fund repurchased 85,500 Class A Units at a weighted average price of $7.10 per unit and 19,800 Class U Units at a weighted average price of $7.32 US dollar per unit under the bid, which expired on July 20, 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 billion in assets under management and currently offers 37 exchange traded funds and mutual funds and 7 closed-end funds across multiple asset classes and both traditional and alternative investment strategies.

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. 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.

For further information please contact:

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