TORONTO, Dec. 29, 2017 (GLOBE NEWSWIRE) -- Purpose Investments Inc., the manager of NEXC Partners Corp. (“NEXC”) (TSX:NXC), announced today the exchange ratios in connection with the conversion of NEXC into an open-end fund by way of the amalgamation (the “Amalgamation”) of NEXC and Purpose Enhanced Dividend Fund (the “PDIV”).

Pursuant to the Amalgamation, each holder of (a) Class A shares of NEXC will automatically receive 1 ETF share of PDIV for each Class A share of NEXC held, (b) Class F shares of NEXC will automatically receive 1 Class F share of PDIV for each Class F share of NEXC held and (c) Class J shares of NEXC will automatically receive 1.032987 Class F shares of PDIV for each Class J share of NEXC held, on the effective date of the Amalgamation, being January 1, 2018.

The Class A shares of NEXC were delisted from the Toronto Stock Exchange at the close of business on December 29, 2017. The ETF shares of PDIV will be listed on the Toronto Stock Exchange on January 2, 2018, under ticker symbol PDIV. Shareholders of NEXC are not required to take any action in order to become shareholders of PDIV.

Details of the Amalgamation are outlined in a management information circular of NEXC dated August 28, 2017 that is available on www.sedar.com.  

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 $4.9 billion in assets under management and currently offers 50 exchange traded funds and mutual funds and 16 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: info@purposeinvest.com

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. 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.

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