RICHMOND HILL, Ontario, April 09, 2018 (GLOBE NEWSWIRE) -- Lysander Funds Limited (“Lysander”) announced today that in March 2018, holders of the Class A and Class F units (the “Unitholders”) of Canso Select Opportunities Fund (the “Fund”) tendered redemption notices totalling approximately $23.6 million of Class A and Class F units, which is about 60% of the net asset value of the Fund. In accordance with the declaration of trust of the Fund, the redemptions will be processed on May 31, 2018.
Further to Lysander’s February 1, 2018 announcement of its intention to restructure the Fund and March 16, 2018 announcement that a Notice of Special Meeting and Management Information Circular (the “Circular”) has been filed on SEDAR in respect of a special meeting of the Unitholders on April 12, 2018 (the “Special Meeting”), Lysander has prepared and filed on SEDAR a more detailed management’s discussion and analysis for the year ended December 31, 2016 (“2016 MD&A”) to supplement Appendix H of the Circular. The Special Meeting has been called for the purpose of considering and voting on a proposed plan of arrangement involving the Fund, the Unitholders and Canso Select Opportunities Corporation under section 182 of the Business Corporations Act (Ontario) (the “Arrangement”). Further details of the Arrangement are set out in the Arrangement Agreement and the Circular, both of which have been filed by the Fund on SEDAR. If the Arrangement is not approved, Lysander expects to terminate the Fund.
The annual information form, management report of fund performance and audited annual financial statements for the Fund for the year ended December 31, 2017 (collectively, the “2017 Financial Information”) are also now available on Lysander’s website (www.lysanderfunds.com) and on SEDAR (www.sedar.com). In addition, Lysander has prepared and filed on SEDAR a management’s discussion and analysis for the Fund for the year ended December 31, 2017 (“2017 MD&A”) in connection with the proposed Arrangement and the Fund’s transition into corporate issuer status. Unitholders can obtain a printed copy of the 2017 Financial Information, 2017 MD&A and/or 2016 MD&A at no cost by contacting Lysander at manager@lysanderfunds.com or by calling toll-free at 1-877-308-6979. Printed copies of the 2017 Financial Information, 2017 MD&A and 2016 MD&A will be available at the Special Meeting.
Lysander is the trustee and investment fund manager of the Fund. The head office of Lysander is located at 100 York Blvd., Richmond Hill, Ontario L4B 1J8.
For further information on Lysander, please visit www.lysanderfunds.com or manager@lysanderfunds.com or you can reach Lysander at 1-877-308-6979.
Richard Usher-Jones
President
Lysander Funds Limited
Tel. No. 416-640-4275
Fax No. 905-764-0000
Forward Looking Information
This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions “seeks”, “expects”, “believes”, “estimates”, “will”, “target” and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of Lysander regarding future results or events and are based on information currently available to it. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. Lysander believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Lysander can give no assurances that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risk Factors” in the annual information form of the Fund dated March 23, 2018 and in the Circular. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Lysander undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release.