Aston Hill Asset Management Announces Unitholder Approval of Fund Conversion and Merger

TORONTO, Aug. 10, 2015 /CNW/ - Aston Hill Asset Management Inc. (the "Manager"), the manager of Aston Hill Oil & Gas Income Fund ("Oil & Gas Fund") and Aston Hill Global Resource & Infrastructure Fund ("Global Resource & Infrastructure Fund" and together with the Oil & Gas Fund, the "Funds") announced that, at the separate special unitholder meetings of each Fund held today, the unitholders approved the previously announced conversion of the Oil & Gas Fund (the "Conversion") and the merger of the Oil & Gas Fund and the Global Resource & Infrastructure Fund (the "Merger") as contemplated in the management information circular of the Funds dated July 13, 2015 (the "Circular"). The Conversion and Merger will involve, among other things:

(i) delisting the Oil & Gas Fund from the TSX on or about August 31, 2015 and converting the Oil & Gas Fund to an open-ended daily redeemable mutual fund, which upon conversion will be renamed "Aston Hill Global Resource Fund";

(ii) changing the investment mandate of the Oil & Gas Fund to broaden the types of securities that qualify for inclusion in the portfolio; and

(iii) merging the Global Resource & Infrastructure Fund with the Oil & Gas Fund, resulting in the Oil & Gas Fund being the continuing fund and the Global Resource & Infrastructure Fund being the terminating fund.

A preliminary prospectus has been filed with the securities regulatory authorities to qualify the continuous offering of the Oil & Gas Fund as a mutual fund under the name of Aston Hill Global Resource Fund.

The Manager also announced that the previously announced unitholder meeting of Aston Hill VIP Income Fund ("VIP Fund") was adjourned until August 20, 2015 at 10:00 a.m. at the offices of the Manager at 77 King Street West, Suite 2110, Toronto-Dominion Centre, Toronto, Ontario.

As previously announced, unitholders of the VIP Fund will vote on a proposed transaction that will include, among other things, delisting the units of the VIP Fund from the TSX, converting the VIP Fund to an open-ended daily redeemable mutual fund and expanding the investment mandate.  Upon conversion, the VIP Fund will be renamed "Aston Hill North American Dividend Fund".  Details of the proposed transaction of the VIP Fund are outlined in the Circular which is available on www.sedar.com or www.astonhill.ca.    

The Manager 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, hedge funds and segregated institutional funds. Aston Hill Financial has offices in Toronto and Halifax.

SOURCE Aston Hill Asset Management Inc.

For further information: Please contact your financial advisor, call Aston Hill's Sales and Marketing support line at 416-583-2300 (toll-free at 1-800-513-3868), or visit our website at www.astonhill.ca.