TORONTO, Dec. 9, 2019 /CNW/ - Evolve Funds Group Inc.
("Evolve") on behalf of Gold Miners Split Corp. announces the
Capital Gains Dividend payable as non-cash notional distribution
amount per unit ("Notional Distribution") for Gold Miners
Split Corp. (the "Evolve Fund") for the period ending December 16, 2019.
Unitholders of record on December 16,
2019 will receive Notional Distribution payable on or about
December 23, 2019 as indicated in the
table below:
Evolve
Fund
|
Ticker
|
Distribution Rate
Per Unit
|
Gold Miners Split
Corp
|
GLC
|
$1.77003746
|
These amounts are for Capital Gains Dividend only, which will be
re-invested, and the resulting units immediately consolidated, so
that the number of units held by each investor will not change. The
Capital Gains Dividend does not include any regular quarterly
distribution amounts.
Holders of Class A Shares are entitled to receive any dividends
that the Board of Directors may declare subject to the prior rights
of the holders of Preferred Shares. If the Company realizes capital
gains on the sale of Portfolio Securities and would be liable to
pay tax thereon, the Company may declare a Capital Gains Dividend
on the Class A Shares. No dividends or other distributions will be
paid on the Class A Shares in any month as long as any dividends on
the Preferred Shares are then in arrears or so long as the NAV per
Unit is equal to or less than $15.00. At this time, other than
for tax purposes, the Board of Directors does not anticipate
declaring dividends in respect of the Class A Shares.
The investment objectives for the Preferred Shares are (i) to
provide holders of Preferred Shares with cumulative preferential
quarterly cash dividends, the amount of which is fixed by the board
of directors of the Company in respect of each three-year term of
the Company; and (ii) on May 31, 2022 (the "Termination
Date") to pay the holders of the Preferred Shares an amount per
Preferred Share equal to $10.00 per Preferred Share (the
"Preferred Share Repayment Amount"). The quarterly cash
distribution will be $0.15 per Preferred Share
($0.60 per annum), representing
a yield of 6.0% per annum on the issue price
of $10.00 per Preferred Share until the Termination Date.
The Preferred Shares are not rated.
Evolve, the manager of the Company, provides investment advisory
services and portfolio management services to the Company.
You will usually pay brokerage fees to your dealer if you
purchase or sell shares of the Company on the Exchange or other
alternative Canadian trading platforms (an "exchange"). If the
shares are purchased or sold on an exchange, investors may pay more
than the current net asset value when buying shares of the Company
and may receive less than the current net asset value when selling
them.
There are ongoing fees and expenses associated with owning
shares of an investment fund. An investment fund must prepare
disclosure documents that contain key information about the fund.
You can find more detailed information about the Company in the
public filings available at www.sedar.com.
Investment funds are not guaranteed, their values change frequently
and past performance may not be repeated
The securities offered pursuant to the Offering have not been
registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent
registration or any applicable exemption from the registration
requirements. This news release does not constitute an offer to
sell or the solicitation of an offer to buy securities nor will
there be any sale of such securities in any state in which such
offer, solicitation or sale would be unlawful.
Certain statements contained in this news release constitute
forward-looking information within the meaning of Canadian
securities laws. Forward-looking information may relate to a future
outlook and anticipated distributions, events or results and may
include statements regarding future financial performance. In some
cases, forward-looking information can be identified by terms such
as "may", "will", "should", "expect", "anticipate", "believe",
"intend" or other similar expressions concerning matters that are
not historical facts. Actual results may vary from such
forward-looking information. Evolve undertakes no obligation
to update publicly or otherwise revise any forward-looking
statement whether as a result of new information, future events or
other such factors which affect this information, except as
required by law.
About Evolve Funds Group Inc.
Evolve is one of
Canada's fastest growing ETF
providers since launching its first suite of ETFs via the Toronto
Stock Exchange in September 2017. Evolve is a leader in
thematic ETFs and specializes in bringing innovative ETFs to
Canadian investors. Evolve's suite of ETFs provide investors
with access to: (i) long term investment themes; (ii) index-based
income strategies; and (iii) some of the world's leading investment
managers. Established by a team of industry veterans with a
proven track record of success, we create investment products that
make a difference. For more information, please visit
www.evolveetfs.com.
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SOURCE Gold Miners Split Corp.