PICTON MAHONEY ASSET MANAGEMENT ANNOUNCES TERMINATION OF PICTON MAHONEY TACTICAL INCOME FUND

/Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of America./

TORONTO, Aug. 12, 2024  /CNW/ - Picton Mahoney Asset Management ("Picton Mahoney"), the manager of the Picton Mahoney Tactical Income Fund (the "Fund"), announced on July 19, 2024 that the Fund will terminate effective on or about August 26, 2024 (the "Termination Date"). The manager has determined that it is no longer economically feasible to continue the Fund and that it would be in the best interests of unitholders to terminate the Fund on the Termination Date. In accordance with the terms of the Trust Agreement of the Fund dated September 26, 2012, unitholder approval is not required for the termination of the Fund. No action is required on the part of unitholders.

Effective July 19, 2024, Picton Mahoney ceased accepting new conversion or monthly redemption requests. Requests submitted before the close of business on July 18, 2024, are being processed as scheduled. In connection with the upcoming termination, the Fund's units (TSX: PMB.UN) have been delisted and are no longer trading on the Toronto Stock Exchange. Payment of the net proceeds from the liquidation of the remaining assets of the Fund will be made on or about August 29, 2024 to the beneficial holders of the Fund's units through CDS Clearing and Depository Services Inc.

About Picton Mahoney

Picton Mahoney Asset Management specializes in differentiated investment solutions and rules-based volatility management. Picton Mahoney helps its clients fortify their portfolios based on experience honed over the years through different market cycles and investing environments.

Founded in 2004 and 100% employee owned, Picton Mahoney is a portfolio management boutique entrusted with over CAD $10.7 billion (as at June 30, 2024) in assets under management. Pioneers of Authentic Hedge^® investment principles and practices in Canada, the firm offers a full suite of investment solutions, including mutual and alternative funds, to institutional and retail investors across the country.

Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Alternative mutual funds can only be purchased through a registered dealer and are available only in those jurisdictions where they may be lawfully offered for sale.

Website: www.pictonmahoney.com

SOURCE Picton Mahoney Asset Management

For further information: Mike Palazzo, Vice President of Marketing, Picton Mahoney Asset Management Tel: [phone], Email: [email protected]