TORONTO, February 21, 2014 - JFT Strategies Fund (the "Fund") (TSX:JFS.UN) announces that the Fund's treasury offering (the "Offering") has been priced at $12.35 per Class A Unit and $12.44 per Class F Unit (collectively, the "Offered Units") and that the Fund has filed a final prospectus in each of the provinces and territories of Canada in connection with the Offering. In each case, the offering price is equal to or exceeds the net asset value per Offered Unit as at February 20, 2014 plus the Agents' fees and expected expenses of the Offering per Offered Unit payable by the Fund.
The Fund's investment objective is to maximize return on investment to holders of units of the Fund while seeking to mitigate market risk and volatility by investing in an actively managed portfolio (the "Portfolio") of long and short positions in any one or a combination of equities, debt securities or other securities.
The Portfolio is managed by Timelo Investment Management Inc. Mr. Jean-Francois (JF) Tardif is the lead portfolio manager responsible for the Portfolio. First Asset Investment Management Inc. ("First Asset") is the investment fund manager of the Fund. First Asset is a Canadian wealth management company that manages and administers approximately $2.9 billion in assets.
The Offering is expected to close on or about February 27, 2014 and is subject to customary closing conditions including approvals of applicable securities regulatory authorities, including the Toronto Stock Exchange.
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 led by CIBC, co-led by National Bank Financial Inc., RBC Capital Markets and TD Securities Inc., and includes Scotiabank, BMO Capital Markets, GMP Securities LP, Canaccord Genuity Corp., Raymond James Ltd. and Desjardins Securities Inc.
A preliminary short form prospectus containing important information relating to the Offered Units has been filed with securities commissions or similar authorities in all provinces and territories of Canada. The preliminary short form prospectus is still subject to completion or amendment. Copies of the preliminary short form prospectus may be obtained from your registered financial advisor using the contact information for such advisor. There will not be any sale or any acceptance of an offer to buy the Offered Units until a receipt for the final prospectus has been issued.
The securities offered 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 an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
For further information, please contact Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.