The Toronto Stock Exchange reports that CI Morningstar U.S. Value Index ETF (the terminating exchange-traded fund (ETF)) will be delisted at the close on April 5, 2024. According to the TSX, the terminating ETF is merging into CI U.S. Enhanced Value Index ETF (the continuing ETF).

The TSX reports that the hedged common units (symbol XXM) and the unhedged common units (symbol XXM.B) (the terminating units) of the terminating ETF will be redeemed, respectively, in exchange for hedged common units (symbol CVLU) or unhedged common units (symbol CVLU.B) (the continuing units) of the continuing ETF at an exchange ratio calculated based on the relative net asset value per unit of the terminating units of the terminating ETF and the continuing units of the continuing ETF at the close of trading on the TSX on April 5, 2024. No fractional continuing units will be issued. If, as a result of the merger, a unitholder becomes entitled to a fraction of a continuing unit of the continuing ETF, the number of continuing units of the continuing ETF to be received will be rounded down to the nearest whole number. The TSX notes that the terminating units trade in the book-entry-only system of CDS Clearing and Depository Services Inc. Therefore, unitholders need not take any action with respect to receiving the consideration to which they are entitled.

For more information, see the terminating ETF's management information circular dated Jan. 26, 2024, available on SEDAR+, and its news releases dated Dec. 15, 2023, and March 19, 2024.