RICHMOND HILL, Ontario, May 15, 2026 (GLOBE NEWSWIRE) -- Canso Select Opportunities Corporation (TSX Venture: CSOC.A, CSOC.B) ("CSOC") announces that its wholly-owned trust, Canso Select Opportunities Fund (the "Fund"), will terminate effective May 15, 2026, following the transitional period previously disclosed to investors on February 1, 2018.
As announced in earlier communications, the Fund historically maintained a pool of tax loss carry forwards that could be utilized to shelter taxable gains of the Fund, provided that the trust continued to be maintained and certain other conditions were met. At that time, the Fund's intention was to maintain its continued existence until such time as all or substantially all of those tax losses were utilized, or for so long as the benefits associated with maintaining and utilizing those losses, including current and potential cash tax savings, outweighed the costs of maintaining the Fund.
Given that the holding period for many of the Fund's investments was expected to be measured in years, and in light of the Fund's available tax losses, it was anticipated that the "transitional period" could extend for several months to a year or longer. During this period, some new investments were made by the Fund, and some new investments were made directly by CSOC.
The trustees of the Fund have determined that it is the appropriate time to wind-up the Fund given the diminishing tax benefits associated with maintaining the Fund. As a result, the Fund will terminate effective May 15, 2026. Upon termination, any remaining property or assets and liabilities of the Fund will be distributed to CSOC as the Fund's sole unitholder.
About CSOC
CSOC is an Ontario-based investment holding company. CSOC's investment objective is to provide long term capital growth to its shareholders. With its core holding in Lysander Funds Limited ("Lysander"), together with a portfolio of public and private investments, CSOC aims to generate returns that exceed average market returns over the long term. Consistent with this objective, the Corporation evaluates potential investments in public & private equity, debt and other securities. The deployment of funds to new investments depends on both the attractiveness of new investment opportunities and the availability of capital generated from the realization of value or income from existing portfolio investments. The investment portfolio consists of public and private equity and debt investments primarily in North America. However, there is no geographic constraint on the investment portfolio.
For further information, please contact:
Jason Bell
President & Chief Executive Officer
Canso Select Opportunities Corporation
jbell@selectopportunitiescorporation.com
Tel: (905) 881-8853
Forward Looking Information
This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the words "seeks", "expects", "believes", "estimates", "will", "target" and similar expressions. The forward-looking statements reflect the current expectations of CSOC regarding future results or events and are based on information currently available to it. Certain material factors and reasonable assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. CSOC believes that the expectations reflected in forward looking statements are based upon reasonable assumptions; however, CSOC can give no assurances that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward looking statement speaks only as of the date on which such statement is made. CSOC undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release.
Additional information about CSOC is available under its SEDAR+ profile at www.sedarplus.ca-
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
