Exchange Bulletin

First Asset Energy Giants Covered Call ETF (NXF) To Trade On Toronto Stock Exchange


February 9, 2015

First Asset Energy Giants Covered Call ETF (the "ETF") - An application has been granted for the original listing in the Industrial category of 50,000 common units (the “Common Units”), 25,000 advisor class units (the “Advisor Class Units”), 100,000 unhedged common units (the Unhedged Common Units”), and 25,000 unhedged advisor class units (the “Unhedged Advisor Class Units”, and together with the Common Units, the Advisor Class Units, and the Unhedged Common Units, collectively the “Units”) of the ETF, all of which will be issued and outstanding, upon the completion of an initial public offering.

Listing of the Units will become effective at 5:01 p.m. on Monday, February 9, 2015 in anticipation of the offering closing prior to the opening of trading on Tuesday, February 10, 2015. The Units will be posted for trading at the opening on Tuesday, February 10, 2015 upon confirmation of the closing.

The ETF is authorized to issue an unlimited number of Units, each of which represents an undivided interest in the net assets of the ETF. Units of the ETF are being offered for sale on a continuous basis and there is no maximum number of Units of the ETF that may be issued.

Registration of interests in, and transfers of, Units of the ETF will be made only through the book-entry only system of CDS Clearing and Depository Services Inc. (“CDS”). Units of the ETF must be purchased, transferred and surrendered for redemption only through a CDS Participant. Upon buying Units of the ETF, the owner will receive only the customary confirmation.

Additional information on the Units may be found in the final prospectus of the ETF dated January 26, 2015 (the “Prospectus”) which is available at www.SEDAR.com. Capitalized terms not otherwise defined below are as defined in the Prospectus.

 

Common Units

Stock Symbol: "NXF" CUSIP: 31865G 10 3 Trading Currency: CDN$

Advisor Class Units

Stock Symbol: "NXF.A" CUSIP: 31865G 30 1 Trading Currency: CDN$

Unhedged Common Units

Stock Symbol: "NXF.B" CUSIP: 31865G 20 2 Trading Currency: CDN$

Unhedged Advisor Class Units

Stock Symbol: "NXF.D" CUSIP: 31865G 40 0 Trading Currency: CDN$

 

Designated Market Maker: CIBC World Market Inc.
Other Markets: None
Head Office Address: 95 Wellington Street West
Suite 1400
Toronto, Ontario
M5J 2N7
Email Address: info@firstasset.com
Website: www.firstasset.com
Head Office Telephone Number: (416) 642-1289
Fax Number: (416) 362-2199
Investor Relations: Z. Edward Akkawi
Tel:(416) 6640-4938
eakkawi@firstasset.com
Manager: First Asset Investment Management Inc.
Transfer Agent & Registrar: Computershare Trust Company of Canada at its principal office in Toronto.
Chief Financial Officer: Karen Wagman
Corporate Secretary: Z. Edward Akkawi
Fiscal Year End: December 31
Incorporation: The ETF is an unincorporated open-ended mutual fund trust established on January 26, 2015 under the laws of the Province of Ontario by an amended and restated Declaration of Trust.
Nature of Business: The ETF’s investment objectives are to provide holders of its Units with (i) quarterly cash distributions, (ii) the opportunity for capital appreciation by investing on an equal weight basis in a portfolio of equity securities of the 15 largest non-Canadian Energy Companies measured by U.S.$ market capitalization with common stock or ADRs listed on a Canadian or U.S. stock exchange and (iii) lower overall volatility of returns on the portfolio than would be experienced by owning a portfolio of securities of such issuers directly.
Conversion of Units: Unitholders may convert Units of any class of the ETF (the “Converting Units”) into whole Units of any other class of the same ETF (the “Converted Units”) in any month. To do so, the Converting Units must be surrendered and the Unitholder’s CDS Participant must deliver to CDS (at its office in the City of Toronto) on behalf of the Unitholder a written notice of the Unitholder’s intention to convert during the period from the first day of a month until 5:00 p.m. (Toronto time) on the last business day prior to the 16th day of such month. Converting Units surrendered for conversion will be converted on the last Trading Day of that month (the “Monthly Conversion Date”). For a Unitholder’s Converting Units so converted, the Unitholder will receive a number of whole Converted Units equal to the net asset value per Converting Unit as of the Monthly Conversion Date, multiplied by the number of Converting Units so converted divided by the net asset value per Converted Unit as of the Monthly Conversion Date. As no fractional Units will be issued upon conversion, any remaining fraction of a Converting Unit will be redeemed at its net asset value.

Unitholders who desire to convert their Units should ensure that the CDS Participant is provided with notice of his or her intention to do so sufficiently in advance of the relevant notice period so as to permit the CDS Participant to deliver notice to CDS and so as to permit CDS to deliver notice to the Registrar and Transfer Agent in advance of the required time.
Distributions: Any cash distributions of income on the Units are expected to be made at least quarterly. The ETF will not have a fixed distribution amount. The amount of such distributions, if any, will be based on the Manager’s assessment of anticipated cash flow and anticipated expenses of the ETF from time to time. As a result of the higher Management Fees on the Advisor Units, any such cash distributions on the Advisor Units are expected to be less than the distribution payable on the Common Units.
Initial Issuance of Units: Pursuant to the Prospectus, 50,000 Common Units, 25,000 Advisor Class Units, 100,000 Unhedged Common Units and 25,000 Unhedged Advisor Class Units of the ETF will be initially issued at a subscription price of $10.00 per Unit.