TORONTO, ONTARIO--(Marketwire - Jan. 9, 2012) - Sentry Investments Inc. ("Sentry"), proposes the merger of Sentry Mining Opportunities Class (the "Merging Fund") into Sentry Precious Metals Growth Class (the "Continuing Fund"). Sentry is the manager of both the Merging Fund and Continuing Fund. The Continuing Fund and Merging Fund are each a class of shares of Sentry Corporate Class Ltd.
Special meetings of securityholders (the "Meeting's) are expected to be held on or about March 8, 2012 to seek securityholder approval for the Merger. A Joint Management Information Circular providing details of the Merger, as well as Proxy Voting Forms and other related proxy materials, will be sent to those securityholders entitled to receive them in due course.
In addition to securityholder approval, the Merger remains subject to regulatory approval. The Independent Review Committee for each of the Merging Fund and Continuing Fund will consider the merger and the result of their assessment will be included in the Information Circular.
In anticipation of receiving the requisite approvals for the Merger, sales of securities of the Merging Fund, other than with respect to existing Pre-Authorized Chequing Plans, will be suspended at 4:00 p.m. on January 10, 2012.
If the Merger is not approved at the meetings, the securities of the Merging Fund will again be made available for sale and the Merging Fund will maintain its current status.
Costs of the Merger
All costs and expenses associated with the Merger will be borne by Sentry.
Investment Objectives of the Sentry Precious Metals Growth Class
Sentry Precious Metals Growth Class is an open-end mutual fund with approximately $82 million in assets as at January 6, 2012. The Continuing Fund's investment objective is to provide long-term capital appreciation by investing substantially all of its assets in securities of Sentry Precious Metals Growth Fund. Sentry Precious Metals Growth Fund's investment objective is to provide long-term capital appreciation by investing in equity securities of companies engaged in the precious metals sector. This fund is suitable for investors who wish to add diversification to their investment portfolio, who are not concerned by short-term price fluctuations and are planning on holding their investment for the long term.
Sentry Investments is a Canadian asset management company with approximately $6.5 billion in assets under management on behalf of Canadian investors. Sentry Investments offers a diverse range of investment products including mutual funds, hedge funds, flow-through limited partnerships and other alternative investment products. Sentry Investments was recognized as Canada's Best Equity Fund Family at the 2011 Lipper Fund Awards and was one of only five companies in 2011 to receive the prestigious Brendan Wood International TopGun Asset Management Team Award.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "intend," "will" and similar expressions to the extent they relate to Sentry. The forward-looking statements are not historical facts but reflect Sentry's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, the anticipated date of the Meetings. Although Sentry believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Sentry undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. For a complete disclosure record of the Sentry Group of Funds, including the Merging Fund and Continuing Fund, please visit their profiles at www.sedar.com.
|Sentry Investments Inc.|
|Commerce Court West|
|199 Bay Street, Suite 4100|
|P.O. Box 108|
|Toronto, ON M5L 1E2|
Documents (including press releases) regarding the various investment funds that are managed or advised by Sentry are provided for information purposes only and cannot be relied on to be complete, exhaustive or error-free unless the complete set of documents for any given investment fund with respect to which information is being sought is reviewed and then only on SEDAR (www.sedar.com).