Matrix Announces Transaction Agreement with Webb Asset Management
TORONTO, ONTARIO--(Marketwire - Nov. 19, 2012) - Matrix Funds Management (a division of Growth Works Capital Ltd., and referred to herein as "Matrix"), the trustee and manager of Matrix Monthly Pay Fund (the "Continuing Fund"), and Webb Asset Management Canada, Inc., the trustee and manager of Webb Enhanced Growth Fund and Webb Enhanced Income Fund (the "Webb Funds"), have agreed to enter into a transaction whereby the portfolios of the Webb Funds will be liquidated and transferred to the Continuing Fund in exchange for units of the Continuing Fund, and unitholders of the Webb Funds will become unitholders of the Continuing Fund. This transaction is subject to the approval of the unitholders of the Webb Funds and securities regulatory authorities. If approved, the transaction is expected to close on or about December 20, 2012. Further information regarding the proposed transaction will be mailed to unitholders of the Webb Funds shortly.
Matrix Funds Management (a division of Growth Works Capital Ltd.) is the manager of the Matrix Funds and a subsidiary of Matrix Asset Management Inc. (TSX:MTA). Matrix provides diversified asset and wealth management for both individuals and institutional investors.
FOR FURTHER INFORMATION PLEASE CONTACT:
Matrix Funds Management
COO and CCO
1.416.365.4201 or Toll Free: 1.800.268.8244