BluMont Strategic Partners Hedge Fund unitholders approve proposed merger and wind-up

Date: Tuesday, January 2, 2007
Author: Opalesque.com

BluMont Strategic Partners Hedge Fund (the "Fund") (TSX: BSP.UN) today announced that its unitholders approved the proposed merger of the Fund with BluMont Canadian Opportunities Fund (the "Canadian Opportunities Fund") at a special meeting of unitholders of the Fund held today. The Canadian Opportunities Fund is a multi-manager investment trust managed by the manager of the Fund, BluMont Capital Corporation ("BluMont Capital"), with investment objectives and strategies similar to those of the Fund.

Under the proposed merger, all of the assets of the Fund will be transferred to the Canadian Opportunities Fund in exchange for units of the Canadian Opportunities Fund and all of the outstanding units of the Fund will be redeemed. In connection with such redemption, unitholders of the Fund will receive units of the Canadian Opportunities Fund on a tax-deferred "rollover" basis. The two funds will be merged effective December 31, 2006 and the Fund will be terminated on the same date.