CI Global Asset Management (“CI GAM”) today announced it has terminated CI Galaxy Metaverse Index ETF (“CMVX”) and completed the mergers of four mutual funds and two exchange-traded funds into other mandates.

CMVX termination

The previously announced termination of CMVX was effective today and followed the delisting of units from the Toronto Stock Exchange (“TSX”) at the close of business on April 4, 2025.

CMVX’s final net asset value per unit was $28.2634. The net proceeds from the liquidation of CMVX’s assets, less all liabilities and obligations attributable to such units, will be distributed to holders on a pro-rata basis on or about April 8, 2025. CMVX did not pay a distribution as a result of its termination.

Fund mergers

CI GAM announced the merger of six mutual funds and two ETFs in November 2024 and those proposals that required securityholder approval were approved at meetings in March 2025. CI GAM undertook the mergers to streamline and modernize its product lineup and believes investors will benefit from continuing funds with larger net asset values that allow for increased portfolio diversification opportunities and a larger profile within the marketplace. The costs and expenses associated with the mergers are being borne by CI GAM, not the terminating funds and ETFs.

Mutual fund mergers

The following mergers were completed after the close of business on April 4, 2025. Securityholders of each Terminating Fund have received the equivalent dollar value of units in the corresponding Mutual Fund Series of the Continuing Fund as at April 5, 2025. The Terminating Funds have now been terminated.

The following mergers will be implemented on or about May 9, 2025:

The mergers of CI Canadian Core Plus Bond Fund, CI Resource Opportunities Class, and CI Short-Term Bond Fund have been or will be effected on a taxable basis, resulting in a taxable disposition if the funds are held in a non-registered account. The other mergers have been or will be effected on a non-taxable basis.

ETF mergers

The following mergers were completed after the close of business on April 4, 2025. These mergers were effected on a taxable basis.

Securityholders of each Terminating ETF have received units of the corresponding Continuing ETF based on the stated exchange ratio (the “Exchange Ratio”), as set out in the table below, for each security of the Terminating ETF held as at April 4, 2025.

No fractional units of the Continuing ETF, or cash in lieu thereof, were issued or paid pursuant to the mergers. The total number of units of the Continuing ETF issued to each Terminating ETF or ETF Series of each Terminating Fund is also set out below.

The Terminating ETFs have now been terminated and securities of the Terminating ETFs were delisted from the Toronto Stock Exchange at the close of business on April 4, 2025.

Exchange ratios

Related distributions

The mergers resulted in the ETF series of certain mutual funds and ETFs paying distributions, as detailed below. The ETF and ETF Series distributions were not paid in cash but have been reinvested and the resulting securities immediately consolidated so that the number of securities held by each investor has not changed. The distributions were reinvested on April 4, 2025 to securityholders of record on April 3, 2025.

About CI Global Asset Management

CI Global Asset Management (“CI GAM”) is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the web at www.ci.com. CI GAM is a subsidiary of CI Financial Corp. (TSX: CIX), an integrated global asset and wealth management company with approximately $529.4 billion in total assets as at December 31, 2024.

Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds and exchange-traded funds (ETFs). Please read the prospectus before investing. Important information about mutual funds and ETFs is contained in their respective prospectus. Mutual funds and ETFs are not guaranteed; their values change frequently, and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.

Certain statements in this document are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained herein are based upon what CI Global Asset Management believe to be reasonable assumptions, CI Global Asset Management cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

The CI Exchange-Traded Funds are managed by CI Global Asset Management, a wholly owned subsidiary of CI Financial Corp. (TSX: CIX). CI Global Asset Management is a registered business name of CI Investments Inc.

©CI Investments Inc. 2025. All rights reserved.

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