Sentry proposes fund merger

Unitholders to vote on proposed merger of Sentry Mining Opportunities Class into Sentry Precious Metals Growth Class

By: IE Staff
January 10, 2012 January 10, 2012
10:45

Toronto-based Sentry Investments Inc. has proposed the merger of Sentry Mining Opportunities Class into Sentry Precious Metals Growth Class.

Sentry is the manager of both funds, which are are each a class of shares of Sentry Corporate Class Ltd.

Special meetings are planned for March 8 to seek securityholder approval for the merger.

In addition to securityholder approval, the merger remains subject to regulatory approval. The Independent Review Committee for each of the fund will consider the merger and the result of their assessment will be included in the information circular providing details of the merger

Sales of securities of Sentry Mining Opportunities Class, other than with respect to existing pre-authorized chequing plans, will be suspended at 16:00 ET on January 10. If the merger is not approved at the meetings, the securities of the fund will again be made available for sale.

All costs and expenses associated with the merger will be borne by Sentry.

Sentry Precious Metals Growth Class is an open-end mutual fund with approximately $82 million in assets as at January 6. Its 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.