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TORONTO, June 13, 2016 /CNW/ - Marret Asset Management Inc. ("Marret"), as the manager of Marret High Yield Strategies Fund ("MHY") (TSX: MHY.UN) and Marret Multi-Strategy Income Fund ("MMF") (TSX: MMF.UN), announced today that MHY and MMF have each applied to voluntarily delist their Class A Units (the "Units") from the Toronto Stock Exchange ("TSX"). It is expected that the Units will be delisted from the TSX at the close of trading on Friday, June 24, 2016.
Marret is also pleased to announce that its Units have been conditionally approved for trading on the Canadian Securities Exchange ("CSE") and expects them to commence trading on Monday, June 27, 2016, subject to final approval by the CSE.
The Manager, on behalf of MHY and MMF, determined that it would be in the best interest of each fund to voluntarily delist the Units in light of the review by the TSX of the eligibility of the Units for continued listing on the TSX pursuant to the TSX's Remedial Review Process.
If the Units are listed on the CSE, they will continue to be considered qualified investments for registered plans. Marret will provide a further update when the status of the CSE listing application has been confirmed.
This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions "seeks", "expects", "believes", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of Marret and the managers of the underlying portfolios regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. Marret believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Marret can give no assurance that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks Factors" in the annual information forms of MHY and MMF dated March 28, 2016. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Marret undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release.
Marret specializes in fixed income and particularly in high-yield debt strategies. The experienced team of investment professionals is led by Barry Allan, President and Chief Investment Officer. He founded Marret in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank, and has over 30 years of experience in credit and fixed-income markets.
SOURCE Marret Asset Management Inc.
For further information: Marret Investor Relations, 416-214-5800, email@example.com