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Harvest Portfolios Group Inc. Completes $9.3 million Overnight Offering for Big Pharma Split Corp.

Date

March 4, 2021
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Date

March 4, 2021
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Date

March 4, 2021

TORONTO, March 04, 2021 (GLOBE NEWSWIRE) – Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce that Big Pharma Split Corp. (the “Company”) has completed the overnight offering of Preferred Shares and Class A Shares of the Company. Total gross proceeds of the offering were $9.3 million, bringing the Company’s net assets to approximately $30.5 million.

The shares will trade on the Toronto Stock Exchange under the existing symbols of PRM.PR.A (Preferred Shares) and PRM (Class A Shares).

The Preferred Shares were offered at a price of $10.50 per Preferred Share to yield 4.8% and the Class A Shares were offered at a price of $13.75 per Class A Share to yield 9.0%.

The offering was co-led by BMO Capital Markets, CIBC World Markets Inc. and Scotia Capital Inc., and also included National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Hampton Securities Limited, Raymond James Ltd., Richardson Wealth Limited, Desjardins Securities Inc., Echelon Wealth Partners Inc., iA Private Wealth Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated.

The net proceeds of the offering will be used to invest in an equally-weighted portfolio of ten issuers comprised of equity securities selected by Harvest from a universe of pharmaceutical issuers which includes:

Eli Lilly and Company | Johnson & Johnson | Amgen Inc. | Novartis AG | Pfizer Inc.

AstraZeneca PLC | Sanofi SA | Merck & Co Inc. | Bristol-Myers Squibb Company | AbbVie Inc.

In order to seek to generate additional returns, Harvest may write call options each month in respect of some or all of the equity securities in the portfolio.

Harvest is the manager, portfolio manager and promoter of the Company.

For additional information: Please visit www.harvestportfolios.com, e-mail [email protected] or call toll free 1-866-998-8298.

About Harvest Portfolios Group Inc.

Founded in 2009, Harvest is a Canadian Investment Fund Manager managing over $1.25 billion in assets for Canadian Investors. Harvest offers an innovative suite of exchange traded funds, mutual funds and publicly-listed structured fund products designed to satisfy the long-term growth and income needs of investors. We pride ourselves in creating trusted investment solutions that meet the expectations of our investors.

Commissions, management fees and expenses all may be associated with investment fund investments. Investors should read the prospectus supplement to the Company’s short form base shelf prospectus dated November 4, 2020 before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated. Please read the Company’s publicly filed documents which are available at www.sedar.com.

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Disclaimer

For Information Purposes Only. All comments, opinions and views expressed are of a general nature and should not be considered as advice and/or a recommendation to purchase or sell the mentioned securities or used to engage in personal investment strategies.

Commissions, management fees and expenses all may be associated with investing in Harvest Exchange Traded Funds, managed by Harvest Portfolios Group Inc. (the Fund(s)). Please read the relevant prospectus before investing. The indicated rates of return are the historical annual compounded total returns (except for figures of one year or less, which are simple total returns) including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Distributions are paid to you in cash unless you request, pursuant to your participation in a distribution reinvestment plan, that they be reinvested into Class A, Class B or Class U units of the Fund. If the Fund earns less than the amounts distributed, the difference is a return of capital. Tax, investment and all other decisions should be made with guidance from a qualified professional.

The current yield represents an annualized amount that is comprised of 12 unchanged monthly distributions (using the most recent month’s distribution figure multiplied by 12) as a percentage of the closing market price of the Fund. The current yield does not represent historical returns of the ETF but represents the distribution an investor would receive if the most recent distribution stayed the same going forward.

Certain statements in the Harvest Insights are forward looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS.

FLS are not guarantees of future performance and are by their nature based on numerous assumptions, which include, amongst other things, that (i) the Fund can attract and maintain investors and have sufficient capital under management to effect their investment strategies, (ii) the investment strategies will produce the results intended by the portfolio managers, and (iii) the markets will react and perform in a manner consistent with the investment strategies. Although the FLS contained herein are based upon what the portfolio manager believe to be reasonable assumptions, the portfolio manager cannot assure that actual results will be consistent with these FLS.

Unless required by applicable law, Harvest Portfolios Group Inc. does not undertake, and specifically disclaim, any intention or obligation to update or revise any FLS, whether as a result of new information, future events or otherwise.

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