OSP Brompton Oil Split Corp

(TSX: OSP, OSP.PR.A) Brompton Funds Limited (“Brompton” or the “Manager”) is pleased to announce that at a special meeting of preferred and class A shareholder (“Shareholders”) of Brompton Oil Split Corp. (the “Fund”) held today, Shareholders approved a special resolution to implement amendments to update and modernize the investment objectives and investment restrictions of the Fund, among other things (the “Amendments”). As part of the Amendments, the Fund’s name will change to “Brompton Energy Split Corp.” and the ticker symbols of the Fund’s class A shares (the “Class A Shares”) and preferred shares (the “Preferred Shares”) will change to ESP and ESP.PR.A, respectively. The Amendments will be enacted as soon as possible.

The Manager believes that the Amendments will enhance the Fund’s long-term returns as well as provide the following benefits:

(a)	Expanded Investment Universe– The Manager estimates that the Fund’s investable universe would increase to approximately three times larger than its current universe.
(b)	Increased Opportunity for Capital Appreciation– An expanded investment universe will provide additional opportunities to increase the value of the Fund’s portfolio which in turn could result in a higher net asset value for the Class A Shares and potentially result in the Fund being able to make monthly cash distributions to the holders of Class A Shares. Holders of Preferred Shares will also benefit from the Amendments if there is an increase in the net asset value of the Class A Shares which will provide greater asset coverage for the Preferred Shares.
(c)	Increased Opportunity for Call Writing– The Fund is permitted to write covered call options on the securities held in its portfolio, accordingly, by expanding the Fund’s investment universe the Manager will have more opportunities to write covered call options and potentially generate additional returns for the Fund.
(d)	Portfolio Diversification– Diversifying the Fund’s portfolio holdings should reduce the volatility of the Fund’s portfolio and mitigate the potential for large declines in the net asset value per Class A Share.

Details regarding the Amendments are outlined in the Fund’s management information circular dated October 31, 2023 which is available at www.sedarplus.ca and www.bromptongroup.com.

About Brompton FundsFounded in 2000, Brompton is an experienced investment fund manager with income focused investment solutions including exchange-traded funds (ETFs) and other TSX traded investment funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.

You will usually pay brokerage fees to your dealer if you purchase or sell Units of the investment fund on the TSX or other alternative Canadian trading system (an “exchange”). If the Units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying Units of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in the public filings available at www.sedarplus.ca. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.