Purpose Investments Inc. Completes Initial Public Offering for the Limited Duration Investment Grade Preferred Securities Fund

TORONTO, ONTARIO--(Marketwired - June 20, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Purpose Investments Inc. ("Purpose") is pleased to announce the closing of its initial public offering (the "Offering"). Pursuant to the Offering, the Fund issued an aggregate of 3,600,000 million Class A and Class F units (the "Units") at $25.00 per Unit, for gross proceeds of approximately $90 million. The Fund has granted the agents for the Offering an over-allotment option to acquire up to an additional 15% of Class A Units issued at a price of $25.00 per Class A Unit exercisable at any time during the next thirty days. The Class A Units are listed on the Toronto Stock Exchange under the symbol PFD. The Fund will be managed by Purpose and the portfolio will be actively managed by Nuveen Asset Management, LLC.

The Fund's investment objectives are to provide unitholders with: (i) a stable stream of monthly distributions; (ii) to preserve the net asset value per Unit; and (iii) to reduce the risk of rising interest rates by managing portfolio duration. The initial distribution target for the Fund is $0.125 per Unit per month ($1.50 per annum to yield 6.0% on the subscription price of $25.00 per Unit).

The Offering is being made on a best efforts agency basis in each of the provinces and territories of Canada through a syndicate of investment dealers co-led by TD Securities Inc., CIBC, RBC Capital Markets and including BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Scotiabank, Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research Capital Corporation, Manulife Securities Incorporated, and Rothenberg Capital Management Inc.

This offering is made only by prospectus. The final prospectus contains important detailed information about the Units. The final prospectus relating to these securities has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. Copies of the final prospectus may be obtained from one of the agents noted above. Investors should read the final prospectus before making an investment decision.