Exchange Bulletin
Evolve European Banks Enhanced Yield ETF (EBNK, EBNK.B, EBNK.U) To Trade On Toronto Stock Exchange
January 7, 2022
Issuer: Evolve European Banks Enhanced Yield ETF ("Evolve ETF")
| Security | Symbol | Issued and Outstanding Securities | Reserved Securities | Issue Price |
|---|---|---|---|---|
| Hedged Canadian dollar denominated units (the "CAD Hedged Units") | EBNK | 100,000 | None | C$10.00 |
| Unhedged Canadian dollar denominated units (the "CAD Unhedged Units") | EBNK.B | 100,000 | None | C$10.00 |
| Unhedged United States dollar denominated units (the "USD Unhedged Units") | EBNK.U | 100,000 | None | US$10.00 |
| Listing category: | Non-Corporate |
| Trading currency: - CAD Hedged Units and CAD Unhedged Units | CDN$ |
| Trading currency: - USD Unhedged Units | US$ |
| Transaction: | Initial public offering (the "Offering") of CAD Hedged Units, CAD Unhedged Units and USD Unhedged Units (collectively, the "Units"). |
| Listing date: | January 10, 2022 (as at 5:01 p.m.) in anticipation of closing of the Offering. |
| Anticipated closing date: | January 11, 2022 (prior to the opening) |
| Posted for trading date: | January 11, 2022 (at the opening) subject to confirmation of closing of the Offering. |
| Other market(s): | None |
| Designated market maker: | CIBC World Markets Inc. |
| Security ownership registration: | CDS book entry only system and Non-Certificated Issue. |
| Investor relations: | Elliot Johnson Tel: (416) 558-6661 Email: ejohnson@evolveetfs.com - and - Keith Crone Tel: (416) 697-5152 Email: kcrone@evolveetfs.com |
| Incorporation: | The Evolve ETF is an exchange traded mutual fund established under the laws of the Province of Ontario pursuant to an amended and restated declaration of trust dated as of January 5, 2022. |
| Manager and Trustee: | Evolve Funds Group Inc. |
| Fiscal year end: | December 31 |
| Nature of business: | Evolve ETF seeks to replicate, to the extent reasonably possible before fees and expenses, the performance of the Solactive European Bank Top 20 Equal Weight Index Canadian Dollar Hedged, or any successor thereto, while mitigating downside risk. Evolve ETF invests primarily in the equity constituents of the Solactive European Bank Top 20 Equal Weight Index Canadian Dollar Hedged, or any successor thereto, while writing covered call options on up to 33% of the portfolio securities, at the discretion of the Manager. The level of covered call option writing may vary based on market volatility and other factors. |
| Transfer agent and registrar: | TSX Trust Company at its principal office in Toronto. |
| Dividends: | Cash distributions of income, if any, on Units will be paid monthly in the currency in which the Units are denominated. |
| Sponsorship: | Not applicable. |
| Offering document: | Prospectus dated January 5, 2022 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Prospectus. |
| Additional Information: | The USD Unhedged Units will be quoted and traded on Toronto Stock Exchange in US funds and trading information regarding the USD Unhedged Units will appear under the heading "Trading in US Funds" in the TSX Monthly Review. |
| Initial public offering: | 100,000 CAD Hedged Units will be issued at a subscription price of C$10.00 per CAD Hedged Unit, 100,000 CAD Unhedged Units will be issued at a subscription price of C$10.00 per CAD Unhedged Unit and 100,0000 USD Unhedged Units will be issued at a subscription price of US$10.00 per USD Unhedged Unit. Evolve ETF is authorized to issue an unlimited number of Units, each of which represents an equal, undivided interest in the net assets of Evolve ETF and there is no minimum number of Units that may be offered. |
| TSX contact: | Chris Birkett, Managing Director, Toronto Stock Exchange |