Steadyhand Announces Unitholder Approval to Change Manager to Purpose Investments

/EIN News/ -- VANCOUVER, British Columbia, May 12, 2025 (GLOBE NEWSWIRE) -- Steadyhand Investment Management Ltd. (“Steadyhand”) announced today that it has received unitholder approval to change the manager of the Steadyhand Investment Funds (the “Funds”) to Purpose Investments Inc. (“Purpose Investments”), a wholly owned subsidiary of Purpose Unlimited Inc. (“Purpose”). Specifically, the unitholders approved the change in manager from Steadyhand to Purpose Investments, and the change to the investment objectives of each of the Funds, all as more particularly described in the Notice of Special Meetings of Unitholders and Joint Management Information Circular dated April 7, 2025 (the “Circular”).

“We’re pleased to report that our clients voted overwhelmingly in favour of the changes,” said Tom Bradley, Steadyhand Chair and co-founder. “This strong endorsement is a testament to the confidence our clients have in the future of Steadyhand and Purpose.”

These changes were previously announced by Purpose and Steadyhand on March 24, 2025, in connection with the announcement that Purpose had entered into an agreement to acquire all the issued and outstanding shares of Steadyhand and Steadyhand Investment Funds, Inc. (the “Transaction”). Voting results for each of the Funds will be available under their respective profiles at www.sedarplus.ca.

The Transaction and changes approved by unitholders are expected to be completed in and around Q2 2025, pending regulatory approvals and customary closing conditions. Additional details regarding the Transaction and the changes affecting the Funds are set out in the Circular and the simplified prospectus and fund facts for the Funds, and amendments thereto, which are available under each Fund’s profile at www.sedarplus.ca.

About Purpose

Purpose is a growing independent financial services firm on a mission to redefine the industry by putting customers first and delivering innovative solutions that shape the future of finance. Purpose offers cutting-edge technology and a diverse suite of financial products and services to empower Canadians with the tools and advice they need to succeed. Founded and led by entrepreneur Som Seif, the firm’s businesses span asset and wealth management and small business financing and include Purpose Investments, Driven by Purpose, Advisor Solutions by Purpose and Longevity. For more information, please visit www.purpose-unlimited.com.

About Steadyhand

Steadyhand is a low-fee investment firm with a mission of providing Canadians with a better investing outcome and a simpler, more personalized experience. It offers clear-cut advice, customized plans, and most importantly, a steady hand, to help investors achieve their financial goals. The firm has approximately $1.3 billion of assets under management with offices in Vancouver and Toronto.

For further information, please contact:

David Toyne
Chief Development Officer
Steadyhand Investment Funds Inc.
1-888-888-3147