Vertex One Asset Management Inc. Signs Definitive Agreement with Picton Mahoney Asset Management

VANCOUVER, Oct. 21, 2019 /CNW/ - Vertex One Asset Management, Inc. ("Vertex One") and Picton Mahoney Asset Management ("Picton Mahoney") announced today that they have entered into a purchase agreement (the "Agreement") in connection with the transactions set out in the letter of intent previously announced by Vertex One on August 26, 2019. Pursuant to the Agreement, Picton Mahoney will acquire the investment fund management contracts for five investment funds managed by Vertex One: the Vertex Liquid Alternative Fund, Vertex Liquid Alternative Fund Plus, Vertex Bond Alpha Fund (together, the "Public Funds"), Vertex Arbitrage Fund and Vertex Arbitrage Fund Plus (together with the Public Funds, the "Funds") (the "Proposed Transaction").

Vertex One will hold a special meeting of each Fund's unitholders (the "Meetings") on November 28, 2019, for the purpose of considering and voting on resolutions in connection with the Proposed Transaction. Further details of the Proposed Transaction will be provided in a management information circular that will be sent to unitholders in connection with the Meetings.  Upon completion of the Proposed Transaction, and subject to receipt of all regulatory and unitholder approvals, Picton Mahoney will become the investment fund manager and portfolio manager of the Funds, Vertex One will resign as manager of the Funds, and all of the Funds will undergo a name change to continue under the Picton Mahoney branded-family of funds. Unitholders of the Funds may also be asked to approve certain other changes. Details about the changes will be contained in meeting materials to be mailed to unitholders of the Funds.

The Public Funds are offered pursuant to a simplified prospectus for alternative mutual funds dated January 11, 2019 (the "Simplified Prospectus"), as amended, and the Vertex Arbitrage Fund and Vertex Arbitrage Fund Plus, are offered privately pursuant to prospectus exemptions. Additional details regarding the Proposed Transaction are set out in the Simplified Prospectus, annual information form and fund facts for the Public Funds, and amendments thereto, which are available at www.vertexone.com or at www.sedar.com.

About Picton Mahoney Asset Management

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 $7.4 billion (as at September 30, 2019) 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.

About Vertex One Asset Management Inc.

As one of the longest-running alternative investment managers in Canada, Vertex One Asset Management Inc. 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.  Alternative funds can only be purchased through a registered dealer and are available only in those jurisdictions where they may be lawfully offered for sale.   Information in this news release, other than statements of historical fact, may be forward-looking information.  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 completion of the acquisition of the investment fund management contracts for the Funds by Picton Mahoney, the appointment of Picton Mahoney as the investment fund manager and portfolio manager of the Funds, unitholder and regulatory approval for the Proposed Transaction, 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 or Picton Mahoney's control.  These risks include, but are not limited to, the ability of Vertex One to obtain unitholder and regulatory approval for the Proposed Transaction, and the satisfaction of the other conditions of closing which are included in the Agreement.  Although forward-looking information contained in this press release is based upon what management of Vertex One or Picton Mahoney 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 and Picton Mahoney undertake 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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