LOGiQ Asset Management and Purpose Investments Announce Retail Asset Management Transaction

ID: 1520698
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(businesspress24) - TORONTO, ONTARIO -- (Marketwired) -- 09/13/17 -- LOGiQ Asset Management Inc. (TSX: LGQ) ("LOGiQ" or the "Company") and Purpose Investments Inc. ("Purpose") announced that they have entered into a purchase and sale agreement (the "Purchase and Sale Agreement") providing for the acquisition by Purpose of substantially all of the retail asset management agreements owned by LOGiQ and its affiliates (the "Transaction"). Under the terms of the Purchase and Sale Agreement, the purchase price for the retail asset management contracts to be acquired by Purpose will be $32.9 million, subject to adjustment based on the assets under management of the funds related to the acquired contracts at closing. Redwood Asset Management Inc. ("Redwood"), a wholly-owned subsidiary of Purpose, will act as manager and/or trustee and/or portfolio manager in respect of the LOGiQ funds set out below (the "LOGiQ Funds") following closing of the Transaction.

The closing of the Transaction, which is expected to occur by the end of December, is subject to a number of conditions precedent including, among other things, all necessary approvals by the holders of securities of the LOGiQ Funds, approval by the holders of the LOGiQ common shares and the 7.00% senior unsecured convertible debentures due June 30, 2021, all required securities regulatory and stock exchange approvals, and satisfaction of other customary closing conditions.

Upon completion of the Transaction and subject to receipt of all necessary approvals, Redwood will become the manager of each of the LOGiQ Funds and all funds will undergo a name change to continue under the Redwood banner. Certain of the LOGiQ Funds will be merged prior to completion of the Transaction, into a mutual fund managed, or to be managed, by Redwood. Certain of the LOGiQ Funds will be converted from closed-end funds into open-end mutual funds. In addition, certain funds will undergo a change in investment objectives.

Below is a summary of the proposed material changes to each of the LOGiQ Funds:

Holders of securities of the relevant LOGiQ Funds will be asked to approve, as applicable, the change of manager (and in certain cases the change of trustee and/or portfolio manager), the mergers, the investment objectives change, and the conversions at special meetings. The special meetings are expected to be called and held on or about November 3, 2017. Details about the changes will be contained in the meeting materials to be mailed to holders of securities of the LOGiQ Funds, which will be made available under each LOGiQ Fund''s profile at .

The Company will refer the Transaction to the applicable Independent Review Committee (the "IRC") of the LOGiQ Funds, which acts in an advisory capacity representing the interests of the funds and securityholders with respect to conflict of interest matters. The IRC has been asked to review the proposals and determine that, if implemented, each proposal would achieve a fair and reasonable result for the applicable LOGiQ Fund.

LOGiQ (logiqasset.com) is a diversified asset management company with a suite of retail mutual funds, closed end funds, hedge funds and pooled funds, and also provides segregated institutional managed accounts and institutional advisory sales. Excluding the retail assets under management that are the subject of the Transaction, LOGiQ has assets under management or advisement, and institutional advisory sales-related fee earning arrangements that are not managed or advised, totaling approximately $3.5 billion as at August 11, 2017.

Purpose Investments Inc. is an asset management firm inspired by the belief that all investors should have access to great investment products along with low fees. Purpose believes in focusing first on managing risk and creating value that is currently missing from the marketplace, thus empowering all Canadians to be better investors. Purpose has over $3.4 billion in assets under management and currently offers 35 exchange traded funds and mutual funds and 7 closed-end funds across multiple asset classes and both traditional and alternative investment strategies. Redwood Asset Management Inc., a wholly owned subsidiary of Purpose, is focused on delivering unique active-investment solutions managed by boutique global investment managers to Canadian investors.

The TSX has neither approved nor disapproved the information contained herein.

Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.


LOGiQ Asset Management Inc.
Joe Canavan
President & Chief Executive Officer
(416) 583-2300

LOGiQ Asset Management Inc.
Mary Anne Palangio
Chief Financial Officer
(416) 583-2300

Purpose Investments Inc.
Som Seif
President & Chief Executive Officer
(416) 583-3850

Redwood Asset Management
Peter Shippen
President & Chief Executive Officer
(416) 304-6811

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Date: 09/13/2017 - 15:17
Language: English
News-ID 1520698
Character count: 0
Firma: LOGiQ Asset Management Inc.
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