Toronto-based Sprott Asset Management LP has received unitholder and regulatory approval to proceed with the proposed merger of Sprott All Cap Fund into Sprott Canadian Equity Fund.
The merger is expected to be effective as of December 14.
Holders of units of each series of Sprott All Cap Fund will receive units of the equivalent series of Sprott Canadian Equity Fund, determined on a dollar-for-dollar basis. As soon as possible following the merger, Sprott All Cap Fund will be wound up.
Unitholders will not be required to pay any redemption fees, sales charges or other fees associated with the termination of Sprott All Cap Fund. All costs associated with the termination of Sprott All Cap Fund will be borne by Sprott.
Sprott Asset Management LP is a wholly owned subsidiary of Sprott Inc. (TSX:SII).