Lysander Proposes Conversion of Canso Credit Income Fund into an Exchange-Traded Fund

Executive Summary

• Lysander Funds Limited announced a special unitholder meeting (≈ June 4, 2026) to vote on converting the Canso Credit Income Fund from a closed‑end fund into an exchange‑traded fund (“ActivETF”).
• If approved, the conversion is expected to be implemented around July 28, 2026, creating “Lysander‑Canso Credit Income ActivETF” and providing greater market liquidity for unitholders.
• All costs associated with the conversion and meeting will be borne by Lysander; the change requires final prospectus approval from Canadian securities regulators and TSX clearance.

Key Details

• Meeting Date: On or about June 4, 2026 (special meeting of unitholders).
• Record Date: Unitholders of record at close of business on April 21, 2026 will be entitled to vote.
• Proposed Action: Conversion of the Fund from a closed‑end investment fund to an exchange‑traded fund (“Conversion”).
• Post‑Conversion Name: Expected to be “Lysander‑Canso Credit Income ActivETF”.
• Regulatory Steps: Requires receipt of final prospectus for the ETF from Canadian Securities Administrators and approval by the Toronto Stock Exchange.
• Implementation Timeline: Anticipated effective date on or about July 28, 2026, subject to regulatory approvals.
• Rationale: Conversion expected to provide greater market liquidity and more efficient trading for existing unitholders.
• Cost Allocation: All conversion‑related costs, including meeting expenses, will be paid by Lysander Funds Limited (the Fund manager).

Notable Quotes

(No direct quotes were provided in the release.)