Change of Name and Manager of Redwood Energy Growth Class
/THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES./
TORONTO, Jan. 2, 2014 /CNW/ - Aston Hill Asset Management Inc. ("Aston Hill") and Redwood Asset Management Inc. ("Redwood") are pleased to announce that the previously announced change of manager of Redwood Energy Growth Class (the "Fund") from Redwood to Aston Hill (the "Change of Manager") was completed on January 1, 2014. Further, effective today, the name of the Fund has been changed by Aston Hill to "AH Energy Growth Class". The Fund represents the sole outstanding class of mutual fund shares of Aston Hill Resource Corp. ("AH Resource Corp.", formerly Ark Resource Corp.).
As part of the transaction, the assets of AH Resource Corp. are intended to be combined with the assets of Aston Hill Corporate Funds Inc. ("Aston Hill Corp."), a multi-fund mutual fund corporation, with the result that the Fund will represent a newly created class of mutual fund shares of Aston Hill Corp. (collectively, the "Amalgamation"). The Amalgamation will benefit securityholders of the Fund as it will enable securityholders to switch to other Aston Hill funds within Aston Hill Corp. on a tax-deferred basis. It is anticipated that the Amalgamation will be effective by no later than on or about March 31, 2014.
Aston Hill is a wholly-owned subsidiary of Aston Hill Financial Inc. (TSX: AHF). Aston Hill Financial Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, private equity funds, hedge funds and segregated institutional funds. Aston Hill Financial Inc. has offices in Calgary, Toronto and Halifax.
This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein.
This news release contains certain "forward-looking statements". The statements that are not historical facts contained in this press release are forward-looking statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
SOURCE ASTON HILL ASSET MANAGEMENT INC.For further information:
Michael J. Killeen, President
Aston Hill Asset Management Inc.
Tel: (416) 583-2300