TORONTO, ONTARIO--(Marketwired - Aug. 30, 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 special meeting (the "Special Meeting") of unitholders of Commodity Fund (the "Unitholders") was held today.
At the Special Meeting, the Unitholders approved 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. Subject to regulatory approval, it is proposed that the Merger will occur after the close of business on or about October 7, 2016 or such later date as may be determined by the Administrator. As unitholders of Coxe Global Agribusiness Income Fund ("Agribusiness Fund") did not approve the proposed merger with Water Fund, Agribusiness Fund will not be participating in the Merger.
Unitholders who do not wish to be part of the Merger will have the option to redeem their units for cash at net asset value as a special redemption right (the "Special Redemption Right"), which will be granted prior to the Merger. For each unit of Commodity Fund submitted for redemption pursuant to the Special Redemption Right, Unitholders will receive a cash amount equal to 100% of the net asset value per unit on September 30, 2016, together with any unpaid distributions (including any special distribution) in respect of such unit, less any amount required to be withheld therefrom under applicable law. Such amount will be paid to redeeming Unitholders on or before October 5, 2016. In order to exercise the Special Redemption Right, the units of Commodity Fund must be surrendered on or before 5:00 p.m. (Toronto time) on September 15, 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.