Harvest Portfolios Group Inc. Establishes At-The-Market Equity Program for Big Pharma Split Corp.

Date

January 15, 2025

Date

January 15, 2025

Date

January 15, 2025

OAKVILLE, Ontario (BUSINESS WIRE) | French – Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce that Big Pharma Split Corp. (the “Company”) (TSX:PRM) (TSX:PRM.PR.A) has established an at-the-market equity program (“ATM Program”) that allows the Company to issue up to $75,000,000 of each of the Preferred Shares and the Class A Shares of the Company (together, the “Shares”) to the public from time to time, at the discretion of Harvest. Any Shares sold in the ATM Program will be sold through the Toronto Stock Exchange (the “TSX”) or any other marketplace in Canada on which the Shares are listed, quoted or otherwise traded at the prevailing market price at the time of sale. This ATM Program replaces the prior program established in December 2022 that has terminated in accordance with its terms.

The volume and timing of the distributions under the ATM Program, if any, will be determined at Harvest’s sole discretion. The ATM Program will be effective until February 7, 2027, unless terminated prior to such date by the Company. The Company intends to use the proceeds from the ATM Program in accordance with the investment objectives and strategies of the Company to invest in an equally-weighted portfolio of ten issuers comprised of equity securities selected by Harvest from a universe of pharmaceutical issuers. In order to seek to generate additional returns, Harvest may write call options each month in respect to some or all of the equity securities in the Portfolio.

Sales of the Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated January 13, 2025 (the “Equity Distribution Agreement”) with National Bank Financial Inc. (the “Agent”).

Sales of the Shares will be made by way of “at-the-market distributions” as defined in National Instrument 44-102 Shelf Distributions on the TSX or on any marketplace for the Shares in Canada. Since the Shares will be distributed at the prevailing market prices at the time of the sale, prices may vary among purchasers during the time of distribution. The ATM Program is being offered pursuant to a prospectus supplement dated January 13, 2025 to the Company’s short form base shelf prospectus dated January 6, 2025. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor or from representatives of the Agent and are available on SEDAR+ at www.sedar+.ca.

The investment objectives for the Preferred Shares (TSX:PRM.PR.A) are to provide their holders with fixed cumulative preferential quarterly cash distributions in the amount of $0.125 per Preferred Share ($0.50 per annum) until December 31, 2027 (the “Maturity Date”) and to return of the original issue price to holders on the Maturity Date.

The investment objectives for the Class A Shares (TSX:PRM) are to provide their holders with regular monthly cash distributions targeted to be $0.1031 per Class A Share ($1.2372 per annum) and with the opportunity for growth in net asset value per Class A Share.

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

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

For media inquiries: Contact Caroline Grimont, VP Marketing at [email protected].

About Harvest Portfolios Group Inc.

Founded in 2009, Harvest is a Canadian Investment Fund Manager managing $5.3 billion in assets for Canadian Investors. At Harvest, our guiding principles are premised on building wealth for our clients through ownership of strong businesses that have the potential to grow & generate steady income over time. 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.

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Commissions, management fees and expenses all may be associated with investment funds. Investors should read the prospectus supplement dated January 13, 2025 to the Company’s short form base shelf prospectus dated January 6, 2025 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+.ca.

Forward-Looking Statements

Certain statements included in this press release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect the expectations of the Company or Harvest regarding future results or events as at the date of this press release. Such forward-looking statements reflect the Company’s or Harvest’s current beliefs and are based on information currently available to them. Forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results or events to differ materially from current expectations. Some of these risks, uncertainties and other factors are described in the Company’s current annual information form under “Risk Factors”. Although the forward-looking statements are based upon assumptions that the Company and Harvest believe to be reasonable, neither the Company nor Harvest can assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein were prepared for the purpose of providing investors with information about the Company and may not be appropriate for other purposes. Neither the Company nor Harvest assumes any obligation to update or revise them to reflect new events or circumstances, except as required by law.

Contacts

For Additional Information:
Website: https://harvestetfs.com
E-mail: [email protected]
Toll free: 1-866-998-8298

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.