Evolve Files Preliminary Prospectus for Canadian and U.S. Dollar Cash Management Solutions

TORONTO, May 4, 2023 /CNW/ - Evolve Funds Group Inc. ("Evolve" or "the Manager") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators with plans to bring two cash management solutions ("Evolve Funds") to the Canadian market. The Premium Cash Management Fund ("MCAD") and the US Premium Cash Management Fund ("MUSD") are designed to provide investors with the ability to maximize current income, while at the same time preserving capital and maintaining liquidity, by investing primarily in Canadian dollar-denominated and U.S. dollar-denominated high-quality short term debt securities (with a term to maturity of 365 days or less), respectively.

"With North American interest rates at multi-decade highs, money market funds have become increasingly attractive," says Raj Lala, President and CEO at Evolve ETFs. "As Evolve grows its platform to $6 billion in assets under management, these new money market funds will serve as an excellent complement to our existing high interest savings account funds."

Premium Cash Management Fund

MCAD will invest primarily in Canadian dollar-denominated high-quality short term debt instruments such as treasury bills, bankers acceptances, bearer deposit notes, commercial paper (including asset-backed commercial paper), promissory notes, floating rate notes as well as other short term debt obligations of, or guaranteed by, the Canadian governments or their agencies, Canadian chartered banks, Canadian loan or trust companies or Canadian corporations.

US Premium Cash Management Fund

MUSD will invest primarily in U.S. dollar-denominated high-quality short term debt instruments such as treasury bills, bankers acceptances, bearer deposit notes, commercial paper (including asset-backed commercial paper), promissory notes, floating rate notes as well as other short term debt obligations of, or guaranteed by, the U.S. governments or their agencies, U.S. chartered banks, U.S. loan or trust companies or U.S. corporations.

The following chart sets out the ETF Units for each of the Evolve Funds:

Evolve Fund	ETF Units
	Unhedged ETF Units (CAD$)	USD Unhedged ETF Units (USD$)
Premium Cash Management Fund	MCAD	-
US Premium Cash Management Fund	-	MUSD

About Evolve Funds Group Inc.

With over $5.9 billion in assets under management, Evolve is one of Canada's fastest growing ETF providers since launching its first ETF in September 2017.  Evolve specializes in bringing innovative ETFs to Canadian investors.  Evolve's suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world's leading investment managers.  Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference.  For more information, please visit www.evolveetfs.com. 

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A preliminary prospectus containing important information relating to securities of the ETF has been filed with the securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus is available on SEDAR (www.sedar.com). There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

Commissions, management fees, expenses and applicable sales taxes all may be associated with an investment in the exchange traded funds managed by Evolve Funds Group Inc. (the "ETFs"). ETFs are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.

SOURCE Evolve ETFs

Evolve ETFs, [email protected], t. 416.214.4884, tf. 1.844.370.4884; MEDIA CONTACT, Keith Crone, [email protected], 416.966.8716