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
Stone Business Continuity Update
To Our Valued Clients and Partners,
As we enter the new reality created by COVID-19 (coronavirus) and its continued impact on the global community, I am writing to personally update you on the measures Stone is taking to ensure our business continuity.
In keeping with the most recent guidance from the World Health Organization, Stone has enacted our Business Continuity Plan, with special consideration given to the implications of COVID-19. In this current environment, the well-being of our employees, clients and partners is our primary focus and social distancing will be of paramount importance.
Effective Monday March 16, all Stone employees will be working remotely and leveraging our technology platforms to communicate virtually. Our Toronto office will remain closed until further notice. Rest assured our remote working policies have been rigorously tested and we are confident we can continue to support our business functions and provide exemplary customer service with minimal disruption.
I am sharing this link to a comprehensive overview of the realities of COVID-19 which has provided our management team with great insight. As this is a very fluid situation, we will continue to provide regular updates by email as events unfold.
At present we are thankful that the entire Stone team is well, and we remain available for your questions and feedback. We welcome discussions and sharing of information as we navigate this challenging environment together.
We thank you for your continued support and we wish you and your loved ones good health in the coming weeks.
Richard G. Stone, CEO
Stone Investment Group Limited Reports Annual Results