Purpose Investments Inc. (“Purpose”), the manager of Purpose Money Market Fund (“PMT”), announced today (i) the exchange ratios in connection with the merger (the “Merger”) of PMT and Purpose High Interest Savings Fund (“PSA”) and (ii) the stock split ratios in connection with the stock split (the “Stock Split”) of Purpose US Cash Fund (“PSU”) and Purpose Premium Money Market Fund (“PFC”).

Pursuant to the Merger, each holder of Class A units of PMT will today receive 5 Class A units of PSA for each Class A unit of PMT held, and each holder of Class F units of PMT will today receive 5 Class F units of PSA for each Class F unit of PMT held on the effective date of the Merger, being January 30, 2023.

Unitholders of PMT are not required to take any action in order to become unitholders of PSA.

Pursuant to the Stock Split, each holder of Class A units, Class F units and Class I units of PSU and each holder of Series A shares, Series F shares and Series XF shares of PFC will today receive the following number of units or shares for each unit or share held:

Details of the Merger are outlined in press releases dated November 22, 2022, December 8, 2022, and December 29, 2022, and amendment no. 3 dated November 24, 2022, to the simplified prospectus of PMT dated March 22, 2022, as amended by amendment no. 1 dated May 27, 2022, and amendment no. 2 dated August 23, 2022, and details of the Stock Split outlined in a press release dated December 29, 2022, each of which is available on www.sedar.com and www.purposeinvest.com.

About Purpose Investments Inc.

Purpose Investments Inc. is an asset management company with more than $15 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services platform that is reshaping the industry by connecting and creating opportunities across asset management, wealth management and small business financial services.

For further information, please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. The prospectus contains important detailed information about the investment fund. Please read the prospectus before investing. Investment fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer.

There is no assurance that any fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.  

Forward-Looking Information

Purpose cautions the reader not to place undue reliance upon any such forward-looking statements contained herein, which speak only as of the date they are made. Generally, but not always, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “on pace”, “anticipates”, or “does not anticipate”, “believes”, and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, or “will” be taken, occur or be achieved.

Forward-looking statements are based on information available to management at the time they are made, management’s current plans, estimates, assumptions, judgments and expectations. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Purpose to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties. Although the forward-looking information contained in this press release is based on assumptions that Purpose believes to be reasonable at the date such statements are made, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Purpose does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.