VANCOUVER, Nov. 28, 2019 /CNW/ - Vertex One Asset Management, Inc. ("Vertex One") announced today that it has received unitholder approval to change the manager of five investment funds managed by Vertex One (the "Change of Manager"): the Vertex Liquid Alternative Fund, Vertex Liquid Alternative Fund Plus, Vertex Bond Alpha Fund (collectively, the "Public Funds"), Vertex Arbitrage Fund and Vertex Arbitrage Fund Plus (together with the Public Funds, the "Funds") from Vertex One to Picton Mahoney Asset Management ("Picton Mahoney"). The Change of Manager was approved by 100%, 100%, 100%, 100% and 99.63% , respectively, of the votes cast at the special meetings of unitholders of the Funds held earlier today. The Change of Manager was proposed in connection with the purchase agreement (the "Agreement") between Vertex One and Picton Mahoney dated October 21, 2019, pursuant to which Picton Mahoney has agreed to acquire the investment fund management contracts for the Funds (the "Proposed Transaction").
The completion of the Proposed Transaction remains subject to the receipt of all necessary regulatory approvals. Subject to customary closing conditions, including regulatory approvals, the Proposed Transaction is expected to be completed on, or about, January 10, 2020.
Units of the Public Funds are offered pursuant to a simplified prospectus for alternative mutual funds dated January 11, 2019 as amended by Amendment No. 1 dated September 5, 2019 and Amendment No. 2 dated October 31, 2019 (the "Simplified Prospectus"), and units of the Vertex Arbitrage Fund and Vertex Arbitrage Fund Plus are offered privately pursuant to prospectus exemptions. Additional details regarding the Proposed Transaction are set out in the Notice of Special Meeting and Management Information Circular dated October 31, 2019, the Simplified Prospectus, annual information form and fund facts for the Public Funds, and amendments thereto, which are available at www.vertexone.com or at www.sedar.com.
About Picton Mahoney Asset Management
Picton Mahoney Asset Management specializes in differentiated investment solutions and rules-based volatility management. Picton Mahoney helps its clients fortify their portfolios based on experience honed over the years through different market cycles and investing environments. Founded in 2004 and 100% employee-owned, Picton Mahoney is a portfolio management boutique entrusted with over $7.4 billion (as at September 30, 2019) in assets under management. Pioneers of Authentic Hedge® investment principles and practices in Canada, the firm offers a full suite of investment solutions, including mutual and alternative funds, to institutional and retail investors across the country.
About Vertex One Asset Management Inc.
As one of the longest-running alternative investment managers in Canada, Vertex One Asset Management Inc. is proud to be a Canadian-run, employee-owned firm, delivering over 20 years of quality alternative investment solutions for retail and institutional investors.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Fund Facts and the Simplified Prospectus for the funds before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Alternative funds can only be purchased through a registered dealer and are available only in those jurisdictions where they may be lawfully offered for sale. Information in this news release, other than statements of historical fact, may be forward-looking information. Information in this news release, other than statements of historical fact, may be forward-looking information. Forward-looking information contained in this news release includes, but is not limited to, statements regarding the completion of the acquisition of the investment fund management contracts for the Funds by Picton Mahoney, the appointment of Picton Mahoney as the investment fund manager and portfolio manager of the Funds, regulatory approval for the Proposed Transaction, and the completion of the Proposed Transaction. By their very nature statements that constitute forward-looking information are subject to numerous risks and uncertainties, some of which are beyond Vertex One's control. These risks include, but are not limited to, the ability of Vertex One to obtain regulatory approval for the Proposed Transaction, and the satisfaction of the other conditions of closing which are included in the Agreement. Although forward-looking information contained in this press release is based upon what management of Vertex One believes are reasonable assumptions, there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Any forward-looking information in this news release is provided as at the date of this news release, based upon the opinions and estimates of management and information available to management as at the date of this news release. Vertex One undertake no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information contained in this news release.
SOURCE Vertex One Asset Management Inc.
For further information: Media enquiries: Vertex One Asset Management, T: (604) 681-5787, E: [email protected]