TORONTO, April 26, 2018 (GLOBE NEWSWIRE) -- Canadian World Fund Limited (“CWF” or the “Company”) and Third Canadian General Investment Trust Limited (“Third Canadian”) announced today that their previously announced plan of arrangement under the Ontario Business Corporations Act (the “Arrangement”) providing for the acquisition by Third Canadian of all of CWF’s issued and outstanding common shares not already owned by Third Canadian and its affiliates and associates has been approved at a special meeting of the Company’s shareholders, with 99.99% of shareholders present in person or by proxy at the meeting voting in favour of the Arrangement. In addition, 99.96% of the Company’s “minority” shareholders (i.e. shareholders other than Third Canadian and its affiliates and associates) present in person or by proxy at the meeting voted in favour of the Arrangement fulfilling the majority of the minority approval requirements of Multilateral Instrument 61-101.

Completion of the Arrangement is subject to customary and other conditions including, among other things, approval of the Ontario Superior Court of Justice. The hearing in respect of the final order to approve the Arrangement (the “Final Order”) is currently scheduled to take place on May 1, 2018 at 10:00 a.m. If the Final Order is obtained on May 1, 2018, and all other conditions to completion of the Arrangement are satisfied or waived, CWF and Third Canadian expect to close the Arrangement on or about May 2, 2018.

The Company will make further announcements regarding the approval by the court and the implementation of the Arrangement, as appropriate.

FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan, President and CEO or Vanessa L. Morgan, Chair
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: cwffund@mmainvestments.com
website: www.canadianworldfund.ca