TORONTO–(BUSINESS WIRE)–Emerge Canada Inc. (Emerge Canada) has announced that it will terminate the following exchange-traded funds (the ETFs) it manages on or about December 20, 2023 (the Termination Date):


Emerge ARK Global Disruptive Innovation ETF;

Emerge ARK Genomics & Biotech ETF;

Emerge ARK Fintech Innovation ETF;

Emerge ARK AI & Big Data ETF;

Emerge ARK Autonomous Tech & Robotics ETF;

Emerge ARK Space Exploration ETF;

Emerge EMPWR Sustainable Dividend Equity ETF;

Emerge EMPWR Sustainable Select Growth Equity ETF;

Emerge EMPWR Sustainable Global Core Equity ETF;

Emerge EMPWR Sustainable Emerging Markets Equity ETF; and

Emerge EMPWR Unified Sustainable Equity ETF.

The ETFs are currently subject to a cease trade order issued by the Ontario Securities Commission on April 6, 2023 due to the fact that audited financial statements of the ETFs and other continuous disclosure documents were not filed within the applicable deadlines. Emerge Canada has worked tirelessly to seek to resolve these deficiencies but has been unable to do so. As a result, Emerge Canada has decided it is in the best interest of investors to terminate the ETFs.

The units of the ETFs are listed on Neo Exchange Inc., operating as Cboe Canada (Cboe Canada). Units of the ETFs will be delisted from Cboe Canada on or about October 23, 2023. Because of the cease trade order, all trading of units of the ETFs on Cboe Canada stopped as of April 6, 2023. The ETFs also ceased issuing any new units as of April 6, 2023.

In connection with the termination of the ETFs, the assets of the ETFs will be liquidated. Investors of each ETF as at the Termination Date will receive the net proceeds from the liquidation of the ETF’s assets, less all liabilities and all expenses incurred in connection with the dissolution of the ETF, on a pro rata basis. All units of the ETFs will be cancelled on the Termination Date.

Emerge Canada agreed to pay an amount of money to certain of the ETFs to cover operating expenses of the ETF that Emerge Canada agreed to absorb (each, a Receivable). As of the date of this press release, Emerge Canada has not repaid the Receivables. If Emerge Canada has not paid the Receivable owed to an ETF before the Termination Date, Emerge Canada will be responsible to pay investors of that ETF their pro rata portion of the Receivable either on the Termination Date or at a future date.

Emerge Canada strongly encourages investors in the ETFs to consult with their financial advisors to understand the financial and tax implications associated with the termination of the ETFs and to discuss their investment options.

A notice will be sent to each investor in the ETFs regarding the termination.

Contacts

Press:
Corey Goldman

emerge@fullyvested.com
+1-416-322-2863