Return on Innovation Advisors Ltd. Announces Transaction with Stone Investment Group Limited
TORONTO, June 02, 2020 (GLOBE NEWSWIRE) — Return On Innovation Advisors Ltd., the manager of Return On Innovation Fund Inc. (the “ROI Fund”) announces that it has agreed to enter into a transaction with Stone Investment Group Limited (“SIG”), whereby the portfolio of the ROI Fund will be liquidated to cash and transferred to the Stone Growth Fund (the “Growth Fund”) in exchange for units of the Growth Fund, and shareholders of the ROI Fund will become unitholders of the Growth Fund. This transaction is subject to the approval of the shareholders of the ROI Fund and securities regulatory authorities, and the completion of the formal exchange transaction between the ROI Fund and the Growth Fund. Stone Asset Management Limited (“SAM”) is a wholly owned subsidiary of SIG and is the trustee, manager and portfolio advisor for the Growth Fund. The Growth Fund is a mutual fund trust, and one of a family of mutual funds offered by SAM (the “Stone Funds”). The Stone Funds are distributed by prospectus throughout Canada by brokers and mutual fund dealers. If approved, the transaction is expected to close on or about July 30, 2020. Further information regarding the proposed transaction will be mailed to shareholders of the ROI Fund shortly.
About ROI Capital
Established in 2002, ROI Capital is a privately held Canadian investment management firm that specializes in commercial mortgages, loans and private investments. Website: www.roicapital.ca