Strathbridge Asset Management Inc. Announces Unitholder Approval of Merger Proposal

TORONTO, Nov. 04, 2019 (GLOBE NEWSWIRE) -- Strathbridge Asset Management Inc. (the “Manager”), the manager of Low Volatility U.S. Equity Income Fund (TSX: LVU.UN) (“LVU”) and NDX Growth & Income Fund (TSX: NGI.UN) (“NGI”), is pleased to announce that at a special meeting held on November 1, 2019 unitholders of LVU and NGI approved a proposal that will result in the merger of both LVU and NGI with Mulvihill Premium Yield Fund (“MPY”) with MPY, in order to combine LVU, NGI and MPY into one open ended mutual fund with MPY being the continuing fund. It is expected that the merger for LVU unitholders will be implemented on or about November 15, 2019, and for NGI unitholders, will be implemented on or about November 19, 2019 (each an “Effective Date”).

Unitholders of LVU and NGI will receive a number of Class F units of MPY determined based on an exchange ratio established as of the close of trading on the business day immediately preceding the applicable Effective Date. The exchange ratios will be calculated based on the relative net asset values of the units of LVU and the Class A units and Class U units of NGI, as applicable, and the Class F units of MPY.

Details of the merger are outlined in a joint management information circular that has been sent to unitholders of each of the funds in connection with the special meetings. Copies of the joint management information circular are available on www.sedar.com and www.strathbridge.com. 

For further information, please contact your financial advisor, call our investor relations line at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.