TORONTO, Sept. 3, 2014 /CNW/ - Jov Leon Frazer Enhanced Opportunities Fund Inc. (the "Fund") announced the completion of the reorganization of the Fund and the discontinuance of its venture capital business, which were approved at the Fund's special meeting of shareholders on July 25, 2014.
The reorganization of the Fund was completed on August 29, 2014 and consisted of:
(a) the sale of all of the venture portfolio assets of the Fund by way of an orderly sale of assets and the discontinuance of the Fund's venture capital business;
(b) the amendment of the articles of the Fund to provide a redemption procedure; and
(c) the purchase by the Fund, and subsequent distribution, of units of IA Clarington Money Market Fund into shareholders' accounts as proceeds of the redemption of Class A shares of the Fund.
About Jov Leon Frazer Enhanced Opportunities Fund Inc.
Jov Leon Frazer Enhanced Opportunities Fund Inc. was formed under the Canada Business Corporations Act (Canada) by articles of amalgamation dated December 12, 2006 under the name Horizons Advantage Equity Fund Inc. and changed its name to Jov Leon Frazer Enhanced Opportunities Fund Inc. by articles of amendment dated March 4, 2013. The Fund was registered as a labour sponsored fund corporation in Ontario under the Community Small Business Investment Funds Act (Ontario) and as a labour-sponsored venture capital corporation under the Income Tax Act (Canada).
SOURCE: IA Clarington Investments Inc.
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