Propel Multi-Strategy Fund Confirms Expected Termination of Fund
TORONTO, April 15, 2014 /CNW/ - Propel Capital Corporation (the "Manager"), as Manager of the Propel Multi-Strategy Fund (the "Fund"), confirmed today the intention to terminate the Fund on April 30, 2014 (the "Termination Date"), as was previously announced on March 17, 2014. This press release fulfills the Manager's and the Fund's notice requirement to unitholders of the Fund in accordance with the Fund's declaration of trust.
After all liabilities have been satisfied or provided for, at the close of business on the Termination Date, the net assets of the Fund will be distributed pro rata to the remaining unitholders of the Fund based on the net asset value per unit and the Fund will terminate. Payment is expected to be made as soon as practicable following the Termination Date in two or more instalments. Unitholders need not take any action to receive the payment.
SOURCE Propel Multi-Strategy FundFor further information: please call Krista Matheson, Senior Vice President, Propel Capital at 416-572-2431 or visit www.propelcapital.ca