Press Release

Grand News Network | November 6, 2023

Guardian Capital Announces Completion of Fund Mergers

TORONTO, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Guardian Capital LP (the "Manager") announces the completion of certain fund mergers (the "Mergers"). At the close of business on November 3, 2023, the ETF series units of each fund identified as a Merging ETF in the following table were exchanged for equivalent ETF series units of the corresponding Continuing Fund and the ETF series units of each Merging ETF were delisted from the Toronto Stock Exchange ("TSX"). Today, November 6, 2023, the ETF series units of each Continuing Fund will be substitutionally listed on the TSX under the same ticker.

Merging ETF Continuing Fund TSX Ticker(s)
Guardian Directed Equity Path ETF

Guardian Directed Equity Path Portfolio GDEP, GDEP.B
Guardian Directed Premium Yield ETF

Guardian Directed Premium Yield Portfolio GDPY, GDPY.B
Guardian Canadian Bond ETF

Guardian Canadian Bond Fund GCBD

In each Merger, each Merging ETF transferred all of its net assets to the corresponding Continuing Fund in return for ETF series units of the Continuing Fund having an aggregate net asset value equal to the value of the assets transferred to the Continuing Fund. Immediately thereafter, each Merging ETF caused all of its outstanding securities to be redeemed in exchange for ETF series units of the corresponding Continuing Fund on a one-for-one basis. This resulted in each unitholder of the Merging ETF receiving the exact same number of equivalent ETF series units of the Continuing Fund as it held in the Merging ETF prior to the Merger. The Mergers occurred on a tax-deferred basis.

As a result of the Mergers, each Continuing Fund now offers both mutual fund series units and ETF series units. In each case, the investment objectives and the portfolio management team for the Continuing Fund remain unchanged.

In addition, the Manager confirms that, on November 3, 2023, unitholders of record in the Merging ETFs received the final distributions shown in the following table ...

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