Marret Asset Management announces extended completion date to December 15, 2020 of the sale of New Elk Coal Company, LLC by Cline Mining Corporation, part of the Private Portfolio of Marret High Yield Strategies Fund and Marret Multi-Strategy Income Fund
TORONTO, April 28, 2020 /CNW/ - Marret Asset Management Inc. ("Marret") today announced that Cline Mining Corporation ("Cline") has amended the agreement for the sale by Cline to Allegiance Coal Limited ("Allegiance") of New Elk Coal Company, LLC, by extending the completion date to December 15, 2020 from July 15, 2020. Either party may terminate the agreement if the transaction has not been completed by the revised completion date.
About Allegiance
Allegiance is a publicly listed (ASX:AHQ) Australian company advancing a metallurgical coal mine into production in British Columbia, Canada.
About Marret Asset Management Inc
Marret Asset Management Inc. is a specialist fixed-income manager. With mandates in investment grade credit, short-term cash alternatives, high yield and opportunistic distressed securities, Marret's focus is on achieving positive absolute returns with emphasis on risk management. CI Financial has a 65% ownership stake in Marret.
Forward-looking information
This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions "seeks", "expects", "believes", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of Marret and the managers of the underlying portfolios regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. Marret believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Marret can give no assurance that the actual results or developments will be realized. 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, including the matters discussed under "Risks Factors" in the annual information forms of MHY and MMF dated March 28, 2016. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Marret undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forwardlooking statements are made as of the date of this press release
SOURCE Marret Asset Management Inc.
please contact: Marret Investor Relations, 416-214-5800, [email protected]
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