Exchange Bulletin

Picton Mahoney Fortified Alpha Alternative Fund (PFAA) To Trade On Toronto Stock Exchange

May 5, 2022

Issuer: Picton Mahoney Fortified Alpha Alternative Fund (the "ETF")

SecuritySymbolIssued and Outstanding SecuritiesReserved SecuritiesIssue Price
ETF units (the "Units") PFAA 100,000 None $10.00
Listing category: Non-Corporate
Trading currency: CDN$
Transaction: Initial public offering of Units (the "Offering")
Anticipated closing date: May 6, 2022
Listing date: May 6, 2022 (as at 5:01 p.m.) subject to confirmation of closing of the Offering
Posted for trading date: May 9, 2022 (at the opening) subject to confirmation of closing of the Offering.
Other market(s): None
Designated market maker: National Bank Financial Inc.
Security ownership registration: CDS book-entry only system and Non-Certificated Issue
Investor relations: Cindy Persaud
Vice President, Operations
Tel: (416) 955-4111
- and -
Patrick Laurence
Vice President, Operations
Tel: (416) 955-4758
Incorporation: An alternative mutual fund organized as an open-ended fund trust governed under the laws of the Province of Ontario pursuant to a declaration of trust (the "DOT") dated September 19, 2018, as amended and restated on June 26, 2019, July 7, 2020, August 17, 2020 and July 8, 2021. The DOT was further amended on April 20, 2022 to accommodate the addition of the Units and the formation of the ETF.
Manager and Trustee: Picton Mahoney Asset Management
Fiscal year end: December 31
Nature of business: The ETF seeks to provide consistent long-term capital appreciation and to provide holders with an attractive risk adjusted rate of return.
Transfer agent and registrar: TSX Trust Company at its principal office in Toronto.
Distributions: Net Income distributions, if any on the Units of the ETF will be paid in cash and are expected to be paid annually, and net capital gains distributions, if any on the Units of the ETF will be paid in cash and are expected to be paid annually in December.
Sponsorship: Not applicable
Offering document: Simplified Prospectus and Annual Information Form each dated April 20, 2022 (the "Offering Documents") which are available at Capitalized terms not otherwise defined herein are as defined in the Offering Documents.
Initial public offering: 100,000 Units will be issued at a subscription price of $10.00 per Unit. The Units are being issued and sold on a continuous basis and there is no maximum number of Units that may be issued.
TSX contact: Selma Thaver,
TSX Listings