Exchange Bulletin
Evolve Active Short Duration Bond ETF (TIME, TIME.B) To Trade On Toronto Stock Exchange
Issuer: Evolve Active Short Duration Bond ETF (the "ETF")
Security | Symbol | CUSIP | Issued and Outstanding Securities | Reserved Securities | Issue Price |
---|---|---|---|---|---|
Hedged Units | TIME | 30051X 10 2 | 50,000 | None | C$20.00 |
Unhedged Units | TIME.B | 30051X 20 1 | 50,000 | None | C$20.00 |
Listing category: | Non-Corporate |
Trading currency: | CDN$ |
Transaction: | Initial public offering of Hedged Units and Unhedged Units (collectively, the "Units") (the "Offering") |
Listing date: | October 13, 2017 (as at 5:01 pm) in anticipation of closing of the Offering. |
Anticipated closing date: | October 16, 2017 (prior to the opening) |
Posted for trading date: | October 16, 2017 (at the opening) subject to confirmation of closing of the Offering. |
Other market(s): | None |
Designated market maker: | BMO Nesbitt Burns Inc. |
Security ownership registration: | CDS book-entry only system |
Investor relations: | Elliot Johnson Tel: (416) 572-2110 Email: ejohnson@evolvefunds.com |
Incorporation: | Exchange traded mutual fund trust established under the laws of the Province of Ontario pursuant to an amended and restated declaration of trust dated August 14, 2017. |
Manager and Trustee: | Evolve Funds Group Inc. |
Fiscal year end: | December 31 |
Nature of business: | The ETF seeks to provide holders of Units with a high level of current income through monthly distributions. Under normal market conditions, TIME invests primarily in a diversified portfolio of below investment grade corporate debt securities rated "BB+" or lower by Standard & Poor's Rating Services ("S&P") and Fitch Ratings ("Fitch") or "Ba1" or lower by Moody's Investor Services, Inc. ("Moody's") at the time of investment. The portfolio will generally have an average duration of less than three years. |
Transfer agent and registrar: | TSX Trust Company at its principal offices in Toronto. |
Distributions | Cash distributions of income, if any, on Units will be payable on a monthly basis. |
Additional Information: | Any exposure of the portion of the portfolio of the ETF that is attributable to Unhedged Units may have to foreign currencies will not be hedged back to the Canadian dollar. All or substantially all of the exposure that the portion of the portfolio of an Evolve ETF attributable to the Hedged Units may have to foreign currencies, as applicable, will be hedged back to the Canadian dollar. |
Sponsorship: | Not applicable |
Offering document: | Prospectus dated August 14, 2017 which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Prospectus. |
Initial public offering: | 50,000 Hedged Units and 50,000 Unhedged Units will be issued at a subscription price of $20.00 per Unit. The ETF is authorized to issue an unlimited number of Units, each of which represents an equal, undivided interest in the net assets of the ETF. Units of the ETF are being issued and sold on a continuous basis and there is no maximum number of Units that may be issued. |
TSX contact: | Julie K. Shin, Listed Issuer Services, Toronto Stock Exchange. |