TORONTO, Sept. 08, 2017 (GLOBE NEWSWIRE) -- On July 18, 2017, Canso Partners II Fund (the “Fund”) acquired 10,700 Class A Units of Canso Select Opportunities Fund (the “Issuer”), which resulted in Canso Investment Counsel Ltd. (the “Acquiror”), on behalf of the Fund and certain discretionary accounts over which it has direction and control (the “Accounts”) having control or direction over 258,213 Class A Units of the Issuer and 82,436 Class F Units of the Issuer. Each Class F Unit may be converted into a Class A Unit. Accordingly, immediately following the purchase by the Fund of the 10,700 Class A Units, the holdings of the Acquiror on behalf of the Fund and the Accounts represented approximately 10.27% of the Class A Units of the Issuer, assuming the conversion of all Class F Units held by the Fund and the Accounts.
Since July 18, 2017, the Fund has acquired an additional 30,800 Class A Units of the Issuer such that, as of the date hereof, the holdings of the Acquiror on behalf of the Fund and the Accounts represent approximately 11.20% of the Class A Units of the Issuer, assuming the conversion of all Class F Units held by the Fund and the Accounts.
The Fund and the Accounts currently hold the securities of the Issuer for investment purposes only and not for the purpose of influencing control or direction of the Issuer. In the ordinary course of business, the Acquiror conducts analysis of securities in which it may invest on behalf of the Fund or the Accounts. Based on that analysis, it makes buy and sell decisions on a continuous basis on behalf of the Fund and the Accounts. Accordingly, depending upon the circumstances, the Acquiror may, on behalf of the Fund or the Accounts, acquire additional securities or related financial instruments of the Issuer or dispose of securities or related financial instruments of the Issuer previously acquired.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will appear with the Issuer’s documents on the System for Electronic Document Analysis and Retrieval and may be obtained upon request from Canso Investment Counsel Ltd., 100 York Blvd., Suite 550, Richmond Hill, Ontario, Attention: Timothy Hicks (Phone: (905) 881-8853).