TORONTO, ONTARIO--(Marketwired - Oct. 7, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
BMO Nesbitt Burns Inc., the administrator (the "Administrator") of Coxe Commodity Strategy Fund ("Commodity Fund") is pleased to announce that the previously announced merger (the "Merger") of Commodity Fund and Global Water Solutions Fund ("Water Fund"), with Water Fund being the continuing fund, as contemplated in the management information circular dated July 29, 2016, is complete.
Pursuant to the Merger, each Class A unitholder of Commodity Fund received 1.183932 units of Water Fund for each Class A unit held and each Class F unitholder of Commodity Fund received 1.302514 units of Water Fund for each Class F unit held. A total of 1,778,940 units were issued by Water Fund in connection with the Merger. The exchange ratios for the units were calculated based on the relative net asset value of the units of Water Fund and of Commodity Fund as at the close of trading on October 6, 2016. Fractional units of Water Fund will not be issued and all resulting fractional interests were rounded down to the nearest whole number.
Water Fund has acquired substantially all of the assets and assumed all of the liabilities of Commodity Fund.
The units of Water Fund trade on the Toronto Stock Exchange under the symbol HTO.UN. The Class A units of Commodity Fund were de-listed from the Toronto Stock Exchange at the close of business on Friday, October 7, 2016.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will", "estimate" and similar expressions to the extent they relate to the funds and the Administrator. The forward-looking statements are not historical facts but reflect the current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the funds and the Administrator believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the funds nor the Administrator undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.