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SmartBe Wealth Inc. announces Preliminary Prospectus for New ETFs and Closing of ETF

SmartBe Wealth Inc.
·5-min read

CALGARY, Alberta, Jan. 21, 2021 (GLOBE NEWSWIRE) -- SmartBe Wealth Inc. (“SmartBe”) announces that, as at January 8, 2021 it has filed and obtained a receipt for a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada for the issuance of units of four new ETFs, being: SmartBe Canadian Quantitative Momentum Index ETF, SmartBe Canadian Quantitative Value Index ETF, SmartBe U.S. Quantitative Momentum Index ETF and SmartBe U.S. Quantitative Value Index ETF (collectively, the “New ETFs”). The New ETFs are anticipated to launch in February 2021.

SmartBe is launching the New ETFs to provide Canadian investors with access to long-only quantitative value and momentum strategies focused on Canadian and United States equity securities. “Value” is a strategy that focuses on the common stock of companies with low prices relative to fundamentals. A “value” investment style emphasizes investing in securities that, based on quantitative analysis, are considered undervalued compared to other securities. “Momentum” is a strategy that focuses on the common stock of companies that have strong relative past performance. A “momentum” style of investing emphasizes investing in securities that have had higher recent total return performance compared to other securities.

The strategies for the New ETFs were chosen based on feedback from the market indicating the need for multiple solutions with a singular factor focus. Management believes the New ETFs represents a positive evolution of SmartBe’s services to Canadian investors.

A preliminary prospectus containing important information relating to the units and the New ETFs has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from www.sedar.com or from SmartBe. There will not be any sale or acceptance of an offer to buy units of the New ETFs until a receipt for the final prospectus has been issued. Information contained in the preliminary prospectus may not be complete and may have to be amended.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This news release does not constitute an offer of securities for sale in the United States and the securities referred to in this news release may not be offered or sold in the United States absent registration or an exemption from registration.

Closure of SmartBe Global Value Momentum Trend Index ETF

SmartBe also announced that it will be terminating the SmartBe Global Value Momentum Trend Index ETF (“SBEA”) (ticker symbol: SBEA) effective at the close of business on or before March 30, 2021 (the “Termination Date”). The decision to terminate SBEA reflects a thorough product review and evaluation process to better serve investors through SmartBe’s suite of investment solutions in Canada. The timing of this termination notice was intended to coincide with the filing of the preliminary prospectus and anticipated launch for the New ETF’s in order to facilitate a smooth transition for SBEA unit holders.

Effective immediately, no further direct subscriptions for units of the SBEA will be accepted, including any purchases made through a pre-authorized purchase plan. Units of the SBEA are expected to be de-listed from the NEO Exchange Inc., at the request of SmartBe, at the close of business on or about March 30, 2021, with all units still held by investors being subject to a mandatory redemption as of the Termination Date. Any remaining unitholders of the SBEA as at the Termination Date will receive the net proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of the SBEA, on a pro rata basis. If you hold units of the SBEA, there may be tax implications to any disposition of your holdings. We strongly urge you to contact your financial advisor to discuss the financial and tax implications associated with a redemption of units and the termination of the SBEA in your particular circumstances. SmartBe welcomes any unit holder or advisor impacted by the termination to reach out to us directly for any assistance we might provide as the Fund Manager.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, the launch date of the New ETFs, the delisting date of the SBEA and those statements identified by the expressions “anticipate”, “expect”, “intend”, “will” and similar expressions to the extent they relate to the New ETFs, the SBEA or SmartBe. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although SmartBe believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. SmartBe undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

About SmartBe

SmartBe Wealth Inc. is a wealth management firm and the manager of exchange-traded funds. The company partners with international and academically published index providers to construct and deliver Canadian exchange-traded funds for widespread public distribution. SmartBe is dedicated to brining new quantitative approaches to Canadian investors interested in affordable alternatives to sophisticated investment strategies. Further information can be found at www.smartbewealth.com.

Contact Information

SmartBe Wealth Inc.
Suite 680, 330 5th Ave SW
Calgary, Alberta, T2P 0L4
Attention: Cecilia Chen
403 930 8688
info@smartbewealth.com
www.smartbewealth.com