COMPASS Income Fund - Merger and Distribution Update

CALGARY, Jan. 31, 2017 /CNW/ - Middlefield Group, on behalf of COMPASS Income Fund ("COMPASS") announced today a reminder on the merger into MINT Income Fund ("MINT") (TSX: MID.UN) (the "Merger").

COMPASS is expected to be merged with MINT on or about March 22, 2017, on a tax-deferred basis and at no cost to unitholders.

In addition to MINT's well established track record, COMPASS unitholders are expected to benefit from:

  • An increase in their monthly distributions of approximately 30%, based on the current relative net asset values of COMPASS and MINT;
  • Lower fees as fixed costs will be distributed over a larger asset base; and
  • Enhanced liquidity due to the greater size of MINT versus COMPASS post-merger.

MINT – Celebrating 20 Years of Outperforming the S&P/TSX Composite

Since Inception

MINT Income Fund (MID.UN)


S&P/TSX Composite Index


Source:  Bloomberg, Middlefield. As at December 31, 2016. Figures reflect annualized total returns, net of fees.

COMPASS unitholders who do not wish to participate in the Merger are reminded that the deadline to tender units for redemption is February 21, 2017 for the February 28, 2017 redemption event. Surrendered units will be redeemed at a price equal to the net asset value per unit.

Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "estimates" or "intends" (or negative or grammatical variations thereof), or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. There are no assurances the funds can fulfill such forward-looking statements and the funds do not undertake any obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing one or more of the funds, many of which are beyond the control of the funds.


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