Faircourt Asset Management Inc. is proposing to merge Faircourt Global Income Advantage Class with Faircourt Gold Income Corp., the company said Wednesday.

Faircourt Gold Income Corp. is a closed-end fund that trades on the Toronto Stock Exchange with the symbol FGX.

In approximately 60 days, all of the outstanding shares of Faircourt Global Income Advantage Class will be exchanged for shares of FGX and the fund will be terminated.

“We are focused on creating new value added solutions for retail investors,” explains Charles Taerk, president of Faircourt Asset Management Inc.

“We also understand that not all investments garner the same appeal. When it comes to all of our investment options, we do not see appropriate returns or market potential for this specific offering in the marketplace,” Taerk says.

Effective immediately, no further purchases of the Faircourt Global Income Advantage Class will be accepted, and, subject to obtaining shareholder approval and any applicable regulatory requirements, the fund will be wound up in approximately 60 days.

All shareholders remaining on the termination date will receive equivalent shares in FGX. Shareholders may also redeem their holdings prior to the termination date (and in such circumstances may incur a transaction fee from their financial advisor).

IE