An anonymous director reports

TAYLOR NORTH AMERICAN EQUITY OPPORTUNITIES FUND RENEWS NORMAL COURSE ISSUER BID

Taylor North American Equity Opportunities Fund has renewed its normal course issuer bid to purchase up to 284,600 units of the fund, representing approximately 10 per cent of the public float of 2,846,499 units. The fund may purchase up to 57,235 units in any 30-day period, which is 2 per cent of the 2,861,756 issued and outstanding units at June 20, 2016.

As of June 20, 2016, the fund had purchased 309,000 units under its current bid at an average price of $10.41 per unit.

The units may be purchased for cancellation from June 30, 2016, to June 29, 2017, through the facilities of the Toronto Stock Exchange or other alternative Canadian trading system, and may only be purchased at a price per unit not exceeding the last published net asset value per unit. The manager of the fund believes that such purchases are in the best interests of the fund and are a desirable use of its available funds.

We seek Safe Harbor.