Evolve Marijuana ETF Files Final Prospectus and Will Begin Trading on February 12, 2018
TORONTO, Feb. 9, 2018 /CNW/ - Evolve Funds Group Inc. ("Evolve ETFs") is pleased to announce that it has filed its final prospectus to launch the Evolve Marijuana ETF ("SEED"). Units of SEED have been conditionally approved for listing on the Toronto Stock Exchange ("TSX") to begin trading on February 12, 2018, under the ticker symbol SEED.
SEED is designed to provide Canadian investors with long-term capital appreciation by actively investing in a diversified mix of equity securities of issuers that are involved in the marijuana industry.
"We believe the international cannabis industry is poised to exceed $30 billion by 2021, which would be a 60% compounded annual growth rate in the next few years," said Raj Lala, President & CEO of Evolve ETFs. "The next wave of growth could be driven by the globalization of the industry. Active management in SEED allows us to capitalize on these opportunities."
SEED may invest in equity securities of companies listed domestically and globally, and other companies, with business activities in the recreational and/or medical marijuana industry. Generally, these securities are issued by issuers with business activities in the marijuana industry or that are engaged in research and development and other ancillary businesses in the marijuana industry.
SEED will close the initial offering of units to its designated broker by the close of business on February 9, 2018, prior to its initial listing of units on the TSX on February 12, 2018. To celebrate the listing, Mr. Lala will join Dani Lipkin, Head of Business Development, ETFs, Toronto Stock Exchange, to open the market at 9:30 a.m. EST on February 12, 2018.
About Evolve ETFs.
Evolve specializes in bringing innovative ETFs to Canadian investors. Currently, Evolve has eleven ETFs listed on the Toronto Stock Exchange. Evolve's suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a proven track record of success, we create investment products that make a difference. For more information, please visit www.evolveetfs.com.
Commissions, management fees and applicable sales taxes all may be associated with an investment in the exchange traded funds managed by Evolve Funds Group Inc. (the "ETFs"). The ETFs are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the ETFs. Please read the prospectus before investing.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve ETFs undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
SOURCE Evolve ETFs