First Asset Announces Update on Fund Mergers

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

TORONTO, March 3, 2017 /CNW/ - Further to its press release dated February 23, 2017, First Asset Investment Management Inc., the manager of First Asset Canadian Convertible Debenture Fund and First Asset Canadian Dividend Opportunity Fund II (each, a "Fund") announces that each Fund will merge into the continuing mutual fund shown opposite its name in the table below (each, a "Continuing Mutual Fund") after the close of business on March 10, 2017.

Merging Mutual Fund	Continuing Mutual Fund
First Asset Canadian Convertible Debenture Fund Fundserv Code: FAF1003 (FE)	First Asset Canadian Convertible Bond Fund Fundserv Code: FAF5703 (FE)
First Asset Canadian Dividend Opportunity Fund II Fundserv Code: FAF6201 (LL)	First Asset Canadian Dividend Opportunity Fund Fundserv Code: FAF6103 (FE)

Unitholders will not be required to take any action in connection with the mergers.  After the mergers, former unitholders of each Fund will become unitholders of the applicable Continuing Mutual Fund.  The mergers will be completed on the basis of an exchange ratio determined with reference to the net asset value per unit of each Fund and of its corresponding Continuing Mutual Fund as at the close of business on March 10, 2017.  First Asset will confirm the exchange ratios and completion of the mergers by way of a press release.

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First Asset, a CI Financial Company, is a Canadian investment firm delivering a comprehensive suite of smart ETF solutions. 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.

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SOURCE First Asset

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