Excel Funds Management Inc. Announces Intention Of Alken Asset Management Limited To Terminate Sub Advisory Agreement

On October 18, 2017, Excel Funds Management Inc. (the "Manager") and Excel Investment Counsel Inc. (the "Portfolio Adviser") received notice from Alken Asset Management Limited (the "Sub Advisor") of its intention to terminate the sub advisory agreement dated May 3, 2017 in respect of Excel Global Growth Asset Allocation ETF and Excel Global Balanced Asset Allocation ETF (the "ETFs") on a date to be determined. The Manager intends to explore other options for the portfolio management of the ETFs. In the interim, the Portfolio Adviser remains responsible for overseeing the ETFs' investment strategies pursuant to the investment management agreement dated May 3, 2017 and the decisions of the Sub Advisor.