TORONTO, June 2, 2017 - First Asset (I) General Partner Inc. (the "General Partner"), the general partner of First Asset Energy & Resource Fund (TSX: TRF.UN) (the "Fund"), announces that the Fund will terminate on or about July 31, 2017 (the "Termination Date").
In connection with the termination:
- the General Partner will request the Toronto Stock Exchange (the "TSX") to de-list the Fund's units from the TSX as at the close of business on July 31, 2017;
- any units of the Fund outstanding on the Termination Date will be redeemed by the Fund for an amount, if any, equal to a pro rata share of the net assets of the Fund remaining after payment or accrual of all debts, expenses and liabilities and liquidation expenses of the Fund;
- For those Limited Partners who hold their units through a participant in CDS Clearing and Depository Services Inc. ("CDS"), the termination proceeds will be remitted on or about August 4, 2017 to the beneficial holders of such units through CDS; and
- For those Limited Partners who hold unit certificates of the Fund, or of "Triax Resource Limited Partnership" (the Fund's former name), those certificates will become null and void effective on the Termination Date. The termination proceeds will be remitted on or about August 4, 2017 to the Fund's registrar and transfer agent, Computershare Trust Company of Canada ("Computershare"). Computershare will, in turn, remit such proceeds to such Limited Partners. Termination proceeds (less any applicable withholding taxes in respect of non-residents of Canada) will be sent to each Limited Partner's address as recorded as of the Termination Date in the register of Limited Partners maintained by Computershare.
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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TMFirst Asset and its logo are trademarks of First Asset Capital Corp., a wholly-owned subsidiary of CI Financial Corp. which is listed on the Toronto Stock Exchange under the symbol "CIX". ®CI FINANCIAL is a registered trademark of CI Investments Inc., used under license. 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", "anticipates", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of First Asset regarding future results or events and are based on information currently available to them. 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. First Asset believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, First Asset can give no assurance 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. 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. First Asset 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.
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