Preferred Share Investment Trust Completes Merger with First Asset Preferred Share ETF

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

TORONTO, Nov. 2, 2016 /CNW/ - Further to its press release on October 26, 2016, First Asset Investment Management Inc. (the "Manager") announces that the merger of Preferred Share Investment Trust (TSX: PSF.UN) (the "Fund") with First Asset Preferred Share ETF (the "First Asset ETF") (TSX: FPR) was implemented after the close of business on November 1, 2016.

In connection with the Merger, each issued and outstanding unit of the Fund received 0,29955 Unit of the First Asset ETF.

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SOURCE First Asset

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