Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc.
Stephenson Strategies Fund

June 30, 2015 18:50 ET

Stephenson Strategies Fund Announces Exchange Ratios

TORONTO, ONTARIO--(Marketwired - June 30, 2015) -


Harvest Portfolios Group Inc. (the "Manager"), on behalf of Stephenson Strategies Fund (the "Fund") is pleased to announce the exchange ratios for the exchange offer by the Fund (the "Exchange Option") being made under the preliminary prospectus of the Fund dated May 27, 2015.

The Fund's investment objectives are to provide Unitholders with: (i) long term capital appreciation; and (ii) superior risk adjusted returns. The Portfolio will consist primarily of listed equity securities that the Investment Manager believes will generate positive risk adjusted returns. The Investment Manager will employ a disciplined but opportunistic approach to active investment management, which means that it will concentrate on the best investment opportunities identified with a focus on risk management. The Fund will seek to provide exposure to global securities with potential for growth. The Investment Manager may also utilize options to assist in the management of risk or to generate additional returns for the Fund.

Stephenson & Company Capital Management Inc. is the investment manager and will provide investment management services to the Fund. Harvest Portfolios Group Inc. will act as the trustee, manager and promoter of the Fund and will provide all administrative services required by the Fund.

The Exchange Ratio was determined by dividing the volume weighted average trading price of such securities on the TSX or other applicable exchange during the Pricing Period, as adjusted to reflect distributions declared by the applicable Exchange Issuer that will not be received by the Fund, by $10.00. Holders of securities of Exchange Eligible Issuers who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of the offering of Units and will be entitled to receive distributions in respect of such securities of Exchange Eligible Issuers that are declared up to but not including such date. The Exchange Ratios were rounded down to four decimal places. Fractional Units will not be issued by the Fund. Allocation of cash in respect of fractional Units to purchasers who have authorized the deposit of Exchange Eligible Securities through CDS will be at the discretion of the CDS Participant.

The table below sets out the name of the Exchange Eligible Security, TSX ticker symbol, CUSIP number, ISIN, the volume weighted average trading price during the Pricing Period and the Exchange Ratio adjusted for dividends.

Exchange Eligible Securities Ticker
ISIN Volume
Price (in
CAD $)
Agnico Eagle Mines Limited AEM 008474108 CA0084741085 37.0385 3.7039
Agrium Inc. AGU 008916108 CA0089161081 128.3458 12.7265
Alimentation Couche-Tard Inc. ATD/B 01626P403 CA01626P4033 53.8806 5.3881
ARC Resources Ltd. ARX 00208D408 CA00208D4084 22.0930 2.1993
Bank of Montreal BMO 063671101 CA0636711016 75.3127 7.5313
The Bank of Nova Scotia BNS 064149107 CA0641491075 66.2145 6.5535
Barrick Gold Corporation ABX 067901108 CA0679011084 13.7278 1.3728
BCE Inc. BCE 05534B760 CA05534B7604 54.0583 5.4058
Blackberry Limited BB 09228F103 CA09228F1036 10.8605 1.0861
Bombardier Inc. BBD/B 097751200 CA0977512007 2.4650 0.2465
Brookfield Asset Management Inc. BAM/A 112585104 CA1125851040 44.8369 4.4837
Cameco Corporation CCO 13321L108 CA13321L1085 18.5043 1.8404
Canadian Imperial Bank of Commerce CM 136069101 CA1360691010 95.2115 9.4122
Canadian National Railway Company CNR 136375102 CA1363751027 74.5621 7.4562
Canadian Natural Resources Limited CNQ 136385101 CA1363851017 35.6776 3.5678
Canadian Oil Sands Limited COS 13643E105 CA13643E1051 10.0786 1.0079
Canadian Pacific Railway Limited CP 13645T100 CA13645T1003 203.9375 20.3588
Canadian Tire Corporation, Limited CTC/A 136681202 CA1366812024 135.9078 13.5908
Catamaran Corporation CCT 148887102 CA1488871023 75.3799 7.5380
Cenovus Energy Inc. CVE 15135U109 CA15135U1093 21.0828 2.1083
CGI Group Inc. GIB/A 39945C109 CA39945C1095 50.7613 5.0761
Crescent Point Energy Corp. CPG 22576C101 CA22576C1014 27.1758 2.6946
Eldorado Gold Corporation ELD 284902103 CA2849021035 5.0997 0.5100
Enbridge Inc. ENB 29250N105 CA29250N1050 60.0779 6.0078
Encana Corporation ECA 292505104 CA2925051047 14.6183 1.4618
First Quantum Minerals Ltd. FM 335934105 CA3359341052 17.7040 1.7704
Fortis Inc. FTS 349553107 CA3495531079 36.7907 3.6791
Franco-Nevada Corporation FNV 351858105 CA3518581051 60.1585 6.0159
George Weston Limited WN 961148509 CA9611485090 102.2842 10.2284
Gildan Activewear Inc. GIL 375916103 CA3759161035 41.5016 4.1502
Goldcorp Inc. G 380956409 CA3809564097 20.6354 2.0635
Husky Energy Inc. HSE 448055103 CA4480551031 24.3582 2.4358
Imperial Oil Limited IMO 453038408 CA4530384086 49.2602 4.9260
Inter Pipeline Ltd. IPL 45833V109 CA45833V1094 30.2824 3.0282
Kinross Gold Corporation K 496902404 CA4969024047 2.8377 0.2838
Loblaw Companies Limited L 539481101 CA5394811015 65.0370 6.5037
Magna International Inc. MG 559222401 CA5592224011 71.5027 7.1503
Manulife Financial Corporation MFC 56501R106 CA56501R1064 24.0149 2.4015
Metro Inc. MRU 59162N109 CA59162N1096 33.9040 3.3904
National Bank of Canada NA 633067103 CA6330671034 48.0203 4.8020
Pembina Pipeline Corporation PPL 706327103 CA7063271034 41.6727 4.1673
Potash Corporation of Saskatchewan Inc. POT 73755L107 CA73755L1076 38.1962 3.7727
Power Corporation of Canada POW 739239101 CA7392391016 32.9156 3.2916
Restaurant Brands International Inc. QSR 76131D103 CA76131D1033 47.2091 4.7209
Rogers Communications Inc. RCI/B 775109200 CA7751092007 43.2008 4.3201
Royal Bank of Canada RY 780087102 CA7800871021 78.0899 7.8090
Saputo Inc. SAP 802912105 CA8029121057 31.5439 3.1414
Shaw Communications Inc. SJR/B 82028K200 CA82028K2002 27.6090 2.7510
Silver Wheaton Corp. SLW 828336107 CA8283361076 22.2812 2.2281
SNC-Lavalin Group Inc. SNC 78460T105 CA78460T1057 44.2373 4.4237
Sun Life Financial Inc. SLF 866796105 CA8667961053 42.7360 4.2736
Suncor Energy Inc. SU 867224107 CA8672241079 35.0675 3.5068
Teck Resources Limited TCK/B 878742204 CA8787422044 13.6744 1.3674
TELUS Corporation T 87971M103 CA87971M1032 42.7730 4.2773
Thomson Reuters Corporation TRI 884903105 CA8849031056 48.1933 4.8193
The Toronto-Dominion Bank TD 891160509 CA8911605092 54.2370 5.3727
TransAlta Corporation TA 89346D107 CA89346D1078 10.1715 1.0172
TransCanada Corporation TRP 89353D107 CA89353D1078 53.7461 5.3226
Valeant Pharmaceuticals International, Inc. VRX 91911K102 CA91911K1021 284.4194 28.4419
iShares Core S&P 500 Index ETF (CAD- Hedged) XSP 46428J105 CA46428J1057 24.3406 2.4341
iShares Core S&P/TSX Capped Composite Index ETF XIC 46430J101 CA46430J1012 23.5698 2.3570
iShares S&P/TSX 60 Index ETF XIU 46428D108 CA46428D1087 21.8087 2.1809
Vanguard S&P 500 Index ETF VFV 92205Y105 CA92205Y1051 46.3421 4.6342

The syndicate of agents for the Offering is being co-led by BMO Capital Markets, CIBC and Scotiabank, and includes National Bank Financial Inc., GMP Securities L.P., Canaccord Genuity Corp., Raymond James Ltd., Industrial Alliance Securities Inc., PI Financial Corp., Desjardins Securities Inc., Dundee Securities Ltd., Global Securities Corporation and Manulife Securities Incorporated (collectively, the "Agents").

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund, the Manager and/or the Investment Manager. The forward-looking statements are not historical facts but reflect the Fund's, the Manager's, and/or the Investment Manager`s 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 Fund, the Manager, and/or the Investment Manager believes 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. The Fund, the Manager and/or the Investment Manager undertakes no 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.

A preliminary prospectus dated May 27, 2015 (the "Prospectus") containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The Prospectus is still subject to completion or amendment. Copies of the Prospectus may be obtained from any of the Agents. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

All capitalized terms noted herein but not defined are as defined in the Prospectus.

For further information: please contact Paul MacDonald at Harvest Portfolios Group Inc. at pmacdonald@harvestportfolios.com or at 1-866-998-8298; visit Harvest Portfolios Group Inc. online at www.harvestportfolios.com; or for additional information or a copy of the Prospectus, please contact your registered financial advisor.

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