Norrep Capital Management Ltd. Announces Special Meeting Results and Notice of Merger and Termination of Norrep High Yield Class

September 11, 2017

CALGARY, Alberta – September 11, 2017– Norrep Capital Management Ltd. (“NCM”), the manager of a strategically focused group of public mutual funds, alternative investment funds, and limited partnerships, reported today that the previously announced proposed mutual fund merger of Norrep High Yield Class (the “Terminating Fund”), a class of shares of Norrep Opportunities Corp., into Norrep High Income Fund (the “Continuing Fund”) has been approved by the shareholders of the Terminating Fund at a special meeting held on September 11, 2017.  NCM also announced that the proposed merger has received all requisite regulatory approval. 

Pursuant to the proposed merger, the Continuing Fund will acquire all or substantially all of the net assets of the Terminating Fund and shareholders of the Terminating Fund will become unitholders of the Continuing Fund. The details of the proposed merger were set out in a management information circular dated August 8, 2017 in respect of the meeting. 

As previously announced, it is expected that the proposed merger will be effected on September 12, 2017 and that the Terminating Fund will be terminated immediately thereafter. 

Shareholders of the Terminating Fund will have the right to redeem shares of, and make switches into or out of, the fund up to the close of business today, being the business day prior to the effective date of the proposed merger. 

Norrep Capital Management Ltd. is a Canadian investment firm with offices in Calgary and Toronto. Please visit www.norrep.com for more details about NCM and its investment products. For the complete disclosure record of the Norrep Group of Funds, please visit www.sedar.com.

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Certain information set forth in this press release, including a discussion of future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management’s control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. Actual results, performance or achievement could differ from those expressed in or implied by these forward-looking statements.