Vertex One Asset Management Inc. Announces Fund Terminations

VANCOUVER, Dec. 9, 2019 /CNW/ - Vertex One Asset Management, Inc. ("Vertex One") announced today that it intends to terminate the Vertex Bond Alpha Fund ("VBAF") on or about January 10, 2020. On October 21, 2019, Vertex One announced that it had entered into a purchase agreement with Picton Mahoney Asset Management ("Picton Mahoney") pursuant to which Picton Mahoney has agreed acquire the investment fund management contracts for five investment funds managed by Vertex One:  Vertex Liquid Alternative Fund, Vertex Liquid Alternative Fund Plus, Vertex Bond Alpha Fund, Vertex Arbitrage Fund and Vertex Arbitrage Fund Plus (the "Proposed Transaction").  Since the date of this announcement, the parties have decided not to include the Vertex Bond Alpha Fund in the Proposed Transaction and to terminate the Vertex Bond Alpha Fund prior to closing of the Proposed Transaction, which is expected to occur on or about January 10, 2019, subject to the receipt of regulatory approval and the satisfaction of all remaining closing conditions.  In addition, the Vertex Canadian Equity Alpha Fund and Vertex U.S. Equity Alpha Fund were terminated effective as of the close of business on November 29, 2019. 

About Vertex One Asset Management Inc.

As one of the longest-running alternative investment managers in Canada, Vertex One Asset Management is proud to be a Canadian-run, employee-owned firm, delivering over 20 years of quality alternative investment solutions for retail and institutional investors.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Fund Facts and the Simplified Prospectus for the funds before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.  Information in this news release, other than statements of historical fact, may be forward-looking information. Forward-looking information contained in this news release includes, but is not limited to, statements regarding the termination of the Vertex Bond Alpha Fund and the completion of the Proposed Transaction.  By their very nature statements that constitute forward-looking information are subject to numerous risks and uncertainties, some of which are beyond Vertex One's control.  Although forward-looking information contained in this press release is based upon what management of Vertex One believes are reasonable assumptions, there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Any forward-looking information in this news release is provided as at the date of this news release, based upon the opinions and estimates of management and information available to management as at the date of this news release. Vertex One undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information contained in this news release.

SOURCE Vertex One Asset Management, Inc.

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