TORONTO, ON--(Marketwired - September 26, 2016) - Purpose Investments Inc. ("Purpose") announces that it has completed the acquisition of Redwood Asset Management Inc. ("Redwood").

"We are excited about the growth potential of Redwood and we will be working with them to build on its leadership in the active management space," said Som Seif, President and CEO Purpose. "The combination of Purpose's industry leading quantitative rules-based strategies and Redwood's specialized high quality active mandates creates a formidable platform with a full range of solutions designed to help Canadian investors achieve their goals over the next few decades."

"The two firms are a great fit for one another. Purpose has proven itself to be a trusted investment manager across a diverse range of high quality traditional and alternative investment strategies at a reasonable cost, and our firm and our clients will benefit from that reputation, expertise and scale," said Peter Shippen, President and CEO at Redwood.

"This partnership positions the combined company for future growth as a leading independent asset manager," Mr. Seif added. "The Purpose team and I are excited to be partnering with Peter Shippen and the Redwood team. It promises to be an exceptional team that will change how Canadians invest."

The acquisition will make Redwood a wholly owned subsidiary of Purpose, bringing together the companies' resources and product offerings. Redwood will continue to operate as a separate entity under its own brand and its current management team with Peter Shippen continuing to lead the company.

About Purpose Investments Inc.
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. With the closing of this transaction, Purpose has over $2.4 billion in assets under management and currently offers 37 exchange traded funds and mutual funds and 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. More information about Purpose's product offerings is available at www.purposeinvest.com.

About Redwood Asset Management Inc.
Redwood Asset Management is a Toronto-based investment fund manager, focused on delivering unique investment solutions managed by boutique global investment managers to Canadian investors. Redwood Asset Management is a wholly owned subsidiary of Purpose Investments Inc. More information about Redwood's product offerings is available at www.redwoodasset.com.