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Low Volatility U.S. Equity Income Fund Announces Two-For-One Unit Split

TORONTO, Nov. 15, 2018 (GLOBE NEWSWIRE) -- (TSX: LVU.UN) Strathbridge Asset Management Inc., the manager of the Low Volatility U.S. Equity Income Fund (the “Fund”), has announced today that it intends to split the units of the Fund on a two-for-one basis (the “Unit Split”). The additional units to be issued in connection with the Unit Split will be issued on November 30, 2018 to unitholders of record on November 23, 2018. Units will trade on a “due bill” basis at the opening of the Toronto Stock Exchange on November 22, 2018 until November 30, 2018, inclusive (the “due bill period”). The units of the Fund will trade on a post-split basis on the “ex-dividend” date of December 3, 2018. Units of the Fund purchased on the ex-dividend date will no longer have an attached entitlement to the Unit Split.

When a unit split occurs, the net asset value per unit is decreased by the same ratio as the unit split so that the unit split has no impact on the value of the investor’s total unit position. An investor’s cost per unit is also decreased by the same ratio as the unit consolidation, although their total cost remains unchanged. Unitholders of the Fund on the record date will be entitled to receive one additional unit for every unit of the Fund they own on that date. No fractional units will be issued.

The “due bill” trading procedures of the Toronto Stock Exchange will apply to the Unit Split.  A due bill is an entitlement attached to listed securities undergoing a corporate action, such as the one described above.  Any trades that are executed on the Toronto Stock Exchange during the due bill period will be identified to ensure purchasers of the units of the Fund receive the entitlement to the Unit Split. 

Unitholders of the Fund do not need to take any action. Unitholders will have their brokerage accounts automatically updated to reflect the Unit Split.

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@strathbridge.com or visit www.strathbridge.com.

   
John Germain, Senior Vice-President & CFO

Strathbridge Asset Management Inc.
121 King Street West
Suite 2600
Toronto, Ontario, M5H 3T9
416.681.3966; 1.800.725.7172
   

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