TORONTO , Oct. 19, 2020 (GLOBE NEWSWIRE) -- Stone Investment Group Limited (“SIG”), confirmed the completion of the previously announced transaction between SIG and Return on Innovation Advisors Ltd., the manager of Return On Innovation Fund Inc. (the “ROI Fund”), whereby the portfolio of the ROI Fund was liquidated to cash and transferred to the Stone Growth Fund (the “Growth Fund”) in exchange for units of the Growth Fund Series R and shareholders of the ROI Fund became unitholders of the Growth Fund. The exchange ratio determines the number of units the Growth Fund will issue to shareholders of the ROI Fund for every 1 share held in the ROI Fund. The exchange ratio was based on the closing net asset value per share as of October 16, 2020 of each Series of the ROI Fund and closing net asset value per unit for the Growth Fund Series R as of October 16, 2020 as follows:
| ROI Fund | Net Asset Value Per Share for ROI Fund Series 1, 2, 3 and 4 | Net Asset Value Per Unit of the Growth Fund Series R | Exchange Ratio | ||
| ROI Fund - Series 1 | $7.4014 | $10.0000 | 0.7401 | ||
| ROI Fund - Series 2 | $7.1865 | $10.0000 | 0.7187 | ||
| ROI Fund - Series 3 | $7.4859 | $10.0000 | 0.7486 | ||
| ROI Fund - Series 4 | $6.2598 | $10.0000 | 0.6260 | ||
Stone Asset Management (“SAM”) is a wholly owned subsidiary of SIG and is the trustee, manager and portfolio advisor for the Growth Fund. The Growth Fund is a mutual fund trust, and one of a family of mutual funds offered by SAM (the “Stone Funds”). The Stone Funds are distributed by prospectus throughout Canada by brokers and mutual fund dealers. SAM’s expertise ranges from servicing Canada’s retail investors and working with their financial advisors to the complexities of working directly with Family Offices, endowments and foundations. At Stone, we want our investors to sleep well, knowing they’ll have the financial resources to live well.
For more information:
Stone Investment Group Limited
Jason Stone, Investor Relations
T 647 338 1691
E jasons@stoneco.com
www.stoneco.com