Bloom Funds Announce Unitholder Approval of Merger

TORONTO, ONTARIO--(Marketwired - Oct. 8, 2015) - Bloom Investment Counsel, Inc. ("Bloom"), on behalf of Bloom Funds, announces that the adjourned special meetings (the "Meetings") of unitholders of the Bloom Income & Growth Canadian Fund (TSX:BI.UN) (the "Terminating Fund") and Bloom Select Income Fund (TSX:BLB.UN) ("Select Fund") were held today. At the Meetings, unitholders of the Terminating Fund approved the merger (the "Merger") of the Terminating Fund into Select Fund, and all matters relating to the Merger, and unitholders of the Select Fund approved certain amendments to Select Fund's Declaration of Trust that, among other things, facilitate the Merger.

The implementation of the Merger remains subject to certain regulatory approvals. Provided all necessary regulatory approvals are obtained, unitholders of the Terminating Fund will have the right to redeem their units pursuant to a special redemption right for an amount in cash equal to the net asset value of their units of the Terminating Fund at the close of business on the business day prior to the effective date of the Merger, less costs and expenses.

Bloom expects the Merger to become effective before markets open on October 23, 2015. In connection with the Merger, Unitholders of the Terminating Fund who wish to exercise their right to redeem their units must submit a redemption request through their broker prior to 5:00 p.m. (Toronto time) on October 20, 2015. The exact procedure for making a redemption request will be determined by the broker, dealer, bank, trust company or other nominee through which the unitholder holds its units. Please contact your broker, dealer, bank, trust company or other nominee for details of its notice requirements and deadline.