PenderFund Capital Management Announces Postponement of Special Meetings and Class Terminations

VANCOUVER, British Columbia, Oct. 22, 2025 (GLOBE NEWSWIRE) -- PenderFund Capital Management Ltd. (“Pender”) announced today that as a result of the Canada Post labour disruption, the special meetings of certain classes of its mutual funds (the “Funds”), originally scheduled for October 31, 2025 have been postponed (the “Postponement”) to November 21, 2025 (the “Meetings”). Pender is holding the Meetings in a virtual only meeting format by way of live audio webcast, commencing at 9:00 a.m. (Vancouver time).

The Meetings are being held in connection with the proposed fee changes of the Funds announced by Pender on September 15, 2025 (the “Proposals”). If the Proposals are approved at the Meetings, Pender expects the fee changes will be implemented on or about December 5, 2025. The amended Meeting Materials replace and supersede the previously filed proxy-related documents dated October 1, 2025 on SEDAR+.

In connection with the Postponement, amended proxy-related meeting materials (collectively, the “Meeting Materials”) are available on www.sedarplus.ca and www.penderfund.com. Notice of the Meeting and information outlining the procedures for accessing the Meeting Materials online (or requesting a copy thereof) have been mailed.

Unitholders of record of the affected classes of the Funds as of the close of business on September 17, 2025 (the “Eligible Unitholders”) are entitled to receive notice of, to participate in and to vote their units at the Meeting.

Eligible Unitholders may vote: (i) by completing, signing and dating their form of proxy and returning it by mail following the directions provided in the form of proxy; (ii) via the Internet at www.investorvote.com; or (iii) by 1-866-732-VOTE (8683). Eligible Unitholders may experience delays in mail delivery due to the impacts of the Canada Post labour disruption and are therefore encouraged to use the alternative methods to submit their proxy voting to avoid any delay. Eligible Unitholders who do not receive their control numbers as a result of the Canada Post labour disruption may contact Computershare’s Shareholder Enquiry Line 1-800-564-6253 (toll free in Canada and the United States) between 8:30 am and 8:00 pm Eastern Time or 514-982-7555 or email at service@computershare.com in order to obtain their control numbers.

In connection with the Postponement, Pender has revised the previously announced proxy-cut off time to 9:00 am PST on November 18, 2025 (or not less than 72 hours (excluding Saturdays, Sundays and holidays) prior to the commencement of a reconvened meeting).

Unitholder Questions and Assistance
Unitholders may contact Computershare’s Shareholder Enquiry Line 1-800-564-6253 (toll free in Canada and the United States) between 8:30 am and 8:00 pm Eastern Time or 514-982-7555 or email at service@computershare.com to request copies of the Meeting Materials or voting control numbers for voting online at www.investorvote.com. Unitholders may also contact Pender with respect to any questions or if they need any assistance by contacting Pender at 1-866-377-4743 or at info@penderfund.com.

Class Closures
Further to Pender’s news release on September 15, 2025 and October 1, 2025, Pender also announces that as a result of the postal strike the proposed closure of certain classes of its Funds (the “Terminating Classes” and collectively, the “Class Closures”) has also been postponed to December 5, 2025 to allow Pender to provide sufficient notice to affected unitholders. Under the Class Closures, unless a unitholder of a Terminating Class elects to redeem their units, the units in the Terminating Class will be converted into units of another class of the same Fund (the “Continuing Class”). In connection with the Class Closures, Pender has reduced the minimum subscription amounts for the Continuing Classes and closed the Terminating Classes to new purchases effective October 3, 2025.

About PenderFund Capital Management Ltd.
Pender was founded in 2003 and is an independent, employee-owned investment firm located in Vancouver, British Columbia. Our goal is to protect and grow wealth for our investors over time. We have a talented investment team of expert analysts, security selectors and independent thinkers who actively manage a suite of differentiated investment funds, exploiting inefficient parts of the investing universe to achieve our goal.
Please visit www.penderfund.com.

Please read important disclosures at www.penderfund.com/disclaimer.

For further information, please contact:
Melanie Moore
Vice President of Marketing, PenderFund Capital Management Ltd.
mmoore@penderfund.com
(604) 688-1511
Toll Free: (866) 377-4743

Forward-Looking Information
This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “expect”, “proposed” or “intend” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, without limitation, statements regarding the affect of the postal strike, statements regarding the Meetings generally and statements regarding the Proposals and Class Closures and the timing thereof. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of the manager at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include, among other things, uncertainty as to when the Canada Post labour disruption will end or escalate.

In making the forward-looking statements in this news release, Pender has applied several material assumptions, including without limitation, the current and future social, economic and political conditions. Although Pender has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those expressed or implied in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Pender does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. Readers are encouraged to read the Funds’ continuous disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca.

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