Teraz Fund

Class A

Fund Investment Objectives

The Teraz Fund is focused on providing investors with long term capital growth by investing in a diversified portfolio of Canadian small and micro-cap equities. The Fund invests utilizing 3 strategies: long positions in early stage companies run by successful entrepreneurs, including start-ups, listed cash-rich shells and merger and acquisition candidates; opportunistic investing, including deep value, arbitrage, theme investing and technical trading; and short positions in companies with suspected fraud, questionable management and over-promotion. Individual positions are limited to 5% of the Fund, based on cost. No investments are made in private companies and no leverage is used. The Fund incepted January 2, 2012. AUM is not disclosed.