October 20, 2016 Ė First Asset Investment Management Inc. (the "Manager"), the manager of Triax Diversified High-Yield Trust (the "Fund") (TSX: TRH.UN), announces that, as contemplated by the Fund's declaration of trust, the Fund is scheduled to terminate on January 3, 2017.
Unitholders will not be required to take any action in connection with the termination of the Fund.
In connection with the termination:
- the last regular monthly distribution, if any, will be in respect of the month ending November 30, 2016. The Fund will not pay a regular monthly distribution in December 2016, but may pay a special distribution if required for tax purposes;
- the Fund's Distribution Reinvestment Plan will terminate effective November 30, 2016;
- the Manager will request the Toronto Stock Exchange (the "TSX") to de-list the units of the Fund from the TSX as at the close of business on December 30, 2016;
- payment of the termination proceeds will be made on or about January 6, 2017 to the beneficial holders of such units through CDS Clearing and Depository Services Inc.;
- the Fund's last monthly redemption right will be in respect of the month ending November 30, 2016; and
- the Fund's quarterly redemption right for the quarter ending December 31, 2016 is terminated.
If the Manager determines or is advised by the investment sub-advisor that it will not be possible to convert all of the Fundís property into cash before the Fundís scheduled termination, the Manager may, upon 30 days' prior notice to Unitholders, extend the date for termination of the Fund to April 1, 2017.
For further information, please call Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.
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