First Asset Announces ETF Unit Consolidations

/NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA./

TORONTO, Oct. 21, 2015 /CNW/ - First Asset Investment Management Inc. ("First Asset"), the Manager and Trustee of First Asset Can-Materials Covered Call ETF (TSX: MXF, MXF.A) and First Asset Can-Energy Covered Call ETF (TSX: OXF, OXF.A) (together, the "First Asset ETFs") announced today that it intends to consolidate the units (the "Units") of the First Asset ETFs as described below (the "Consolidation").

After the close of trading on the Toronto Stock Exchange (the "TSX") on Friday, November 6, 2015, the Units of the First Asset ETFs will be consolidated on the basis of the ratio (the "Consolidation Ratio") set out in the table below, and such Units will begin trading on a post-Consolidated basis on Monday, November 9, 2015, the effective date of the Consolidation.

ETF	Units	TSX Ticker	Consolidation Ratio
First Asset Can-Materials Covered Call ETF	Common Units	MXF	1:4
	Advisor Units	MXF.A	1:4
First Asset Can-Energy Covered Call ETF	Common Units	OXF	1:4
	Advisor Units	OXF.A	1:4

Following the Consolidation, the net asset value per Unit will be increased by the same ratio as the Consolidation Ratio, such that the Consolidation will have no impact on the value of an investor's aggregate holding of Units.  Similarly, an investor's cost per Unit is also increased by the same ratio as the Consolidation Ratio, however investors will hold fewer Units, so the aggregate cost of an investor's Units will remain the same.

No fractional Units will be issued in the Consolidation.  Where the Consolidation would result in a fractional Unit, the number of post-Consolidation Units will be rounded down to the nearest whole post-Consolidation Unit in the case of a fractional interest that is less than 0.5, or rounded up to the nearest whole post-Consolidation Unit, in the case of a fractional interest that is 0.5 or greater.

Unitholders are not required to take any action in connection with the Consolidation.

First Asset - Smart Solutions^TM
First Asset is an independent investment firm, focused on providing smart, low cost solutions that address the real-world investment needs of Canadians - capital appreciation, income generation and risk mitigation. Rooted in strong fundamentals, First Asset's smart solutions strive to deliver better risk-adjusted returns than the broad market while helping investors achieve their personal financial goals.

This communication is intended for informational purposes only. This offering is made only by prospectus. The prospectus contains important detailed information about the First Asset ETFs and the Units. A copy of the prospectus may be obtained from your investment advisor, First Asset or at www.sedar.com. Investors should read the prospectus before making an investment decision. Commissions, trailing fees, management fees and expenses all may be associated with investments in the First Asset ETFs. The First Asset ETFs are managed by First Asset Investment Management Inc.

SOURCE First Asset Exchange Traded Funds

please call Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com