Completion of Merger of Creststreet Alternative Energy Class into Creststreet Resource Class

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TORONTO, Nov. 26, 2012 /CNW/ - Creststreet Asset Management Limited ("Creststreet") is pleased to announce that the merger of Creststreet Alternative Energy Class ("CAEF") into Creststreet Resource Class ("CRF") (the "Merger") became effective on November 23, 2012.  The Merger was approved by shareholders of each of CAEF and CRF at special meetings held on November 8, 2012.

In connection with the Merger, each shareholder of CAEF received Series A, Series B and/or Series F shares of CRF having the same aggregate net asset value as their respective shares of CAEF as of the close of business on November 23, 2012, as listed below:

• each Series A share of CAEF (CAM400) was converted to a Series A share of CRF (CAM100) with a conversion ratio of 10.2210911136;
• each Series B share of CAEF (CAM401) was converted to a Series B share of CRF (CAM151) with a conversion ratio of 9.4763353076; and
• each Series F share of CAEF (CAM402) was converted to a Series F share of CRF (CAM152) with a conversion ratio of 9.4632349152.

The Merger was completed in connection with the previously announced agreement between Creststreet and Brompton Funds Limited ("Brompton") pursuant to which Brompton will acquire, among other things, the rights to provide management and administration and portfolio management services to CRF and Creststreet Dividend & Income Class on or about November 30, 2012.

All pre-authorized chequing plans that had been established with respect to CAEF will be re-established with CRF unless an investor advises otherwise. Investors may change or cancel any pre-authorized plan at any time.

Brompton currently manages 12 closed-end and flow-through funds with assets under management of over $1.2 billion. Brompton launched its first closed-end investment fund in February 2002 and currently offers a range of monthly income and growth products, all of which trade on the TSX, as well as flow-through limited partnerships. Brompton is focused on meeting the needs of investors by offering innovative products with client friendly terms and supported by strong corporate governance.

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Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Merger, Creststreet, Brompton and Brompton's proposed acquisition of the rights to provide management and administration and portfolio management services to CRF and Creststreet Dividend & Income Class. The forward-looking statements are not historical facts but reflect Creststreet's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Creststreet believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Creststreet undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. For a complete disclosure record of CAEF, CRF and Creststreet Dividend & Income Class, please visit their profiles at www.sedar.com.

SOURCE: Creststreet Mutual Funds Limited

Robert Toole, Chief Executive Officer, Creststreet Asset Management Limited, [phone]; Mark Caranci, Chief Executive Officer, Brompton Funds Limited, [phone].