Purpose Investments Announces Exercise of Over-Allotment Option of the Initial Public Offering for the Energy Credit Opportunities Income Fund

TORONTO, ONTARIO--(Marketwired - July 9, 2015) -


Purpose Investments Inc. ("Purpose") is pleased to announce that Energy Credit Opportunities Income Fund (the "Fund"), pursuant to the exercise of the over-allotment option by the syndicate of agents, has issued an additional 60,000 Class A units (the "CAD Units") at $10.00 per CAD Unit and 29,950 Class U units (the "USD Units") at U.S. $10.00 per USD Unit for gross proceeds of approximately $600,000 and U.S. $299,500.

The Fund completed its initial public offering of CAD Units and USD Units on June 19, 2015, through the issuance of an aggregate of 3,000,000 CAD Units at $10.00 per CAD Unit and 500,000 Class U Units at U.S. $10.00 per USD Unit for gross proceeds of approximately $30,000,000 million and U.S. $5,000,000 million. In total, the Fund has issued an aggregate of 3,060,000 CAD Units and 529,950 USD Units, for gross proceeds of approximately $30,600,000 million and U.S. $5,299,500 million. The CAD Units and the USD Units are listed on the Toronto Stock Exchange under the symbol PCF.UN and PCF.U, respectively. The Fund is managed by Purpose, who has retained Lazard Asset Management LLC to provide portfolio advisory services to the Fund.

The Fund's investment objectives are: (i) to provide holders of Units ("Unitholders") with a stable stream of monthly distributions; and (ii) to provide Unitholders with the opportunity for growth in the net asset value per Unit.

The CAD Units and USD Units of the Fund were offered on a best efforts agency basis in each of the provinces and territories in Canada through a syndicate of investment dealers co-led by RBC Capital Markets and CIBC, and including TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Scotiabank, GMP Securities L.P., Canaccord Genuity Corp., Raymond James Ltd., Desjardins Securities Inc., Burgeonvest Bick Securities Ltd., Dundee Securities Ltd., Global Securities Corp., Mackie Research Capital Corp., and Manulife Securities Inc.

This offering is made only by prospectus. The final prospectus contains important detailed information about the Units. The final prospectus relating to these securities has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. Copies of the final prospectus may be obtained from one of the agents noted above. Investors should read the final prospectus before making an investment decision.

About Purpose Investments:

Purpose Investments is an asset management firm inspired by the belief that all investors should have access to great investment products along with low fees. Purpose believes in focusing first on managing risk and creating value that is currently missing from the marketplace, thus empowering all Canadians to be better investors. Purpose has over $1.3 billion in assets under management and currently offers 13 exchange traded funds and mutual funds and two closed-end funds across multiple asset classes and both traditional and alternative investment strategies.

Purpose is the manager of NexC Partners Corp. (NXC), an investment corporation which invests in a portfolio of North American dividend-paying equity securities, plus owns an equity stake in Purpose.

Contact Information:

Purpose Investments Inc.
Dan Rubin
Vice President, Marketing