What to know about credit card travel insurance as an Air Canada strike looms
After carefully planning a summer vacation, the last thing on your mind should be finding alternate transportation. But some travellers could be left scrambling as the clock ticks down to a possible work stoppage at Air Canada.
The airline says it will gradually suspend its flights starting Thursday after the union representing the airline's 10,000 flight attendants and the airline itself issued 72-hour strike and lockout notices, respectively. They are set to take effect around 1 a.m. ET on Saturday.
It can be challenging for customers who are stuck in the crossfire, dealing with delays and cancellations. But travellers may be in luck if they booked their tickets with a credit card that has built-in travel insurance — with one caveat.
'You have to make sure that when you're booking it, it isn't past the date where many of (the credit card companies) would view it as a known event,' said Will McAleer, executive director of the Travel Health Insurance Association.
That means as long as the tickets were booked before a potential labour dispute became apparent, the credit card travel insurance would cover it under their trip cancellation policy, McAleer explained.
If the ticket was booked via credit card after the strike became foreseeable, the disruption-related costs wouldn't be covered, he added.
But it's important to read the fine print of your credit card's travel insurance policy, said Natasha Macmillan, senior business director of everyday banking at Ratehub.ca.
Macmillan said consumers need to double-check if labour dispute-related cancellations or delays are covered. Often, the travel policy would specify exclusions such as delays caused by government actions, a pandemic or labour disruption.
She said labour dispute coverage can also vary depending on the card type and card provider. For example, some high-end credit cards may cover disruptions from labour strikes even when the tickets were booked after it became a foreseeable event.
Macmillan said travellers should also understand their coverage limits and payout rules.
'There tend to be very specific requirements,' she said.
For example, some credit card travel insurance may cover up to $5,000 for a trip cancellation, while other cards may have a lower limit.
Besides the maximum coverage, McAleer said travellers need to determine if the policy is sufficient for the trip — is it less than or more than what you've paid per traveller.
Consumers also need to make sure they meet the terms and conditions of the credit card policy, which could include paying for a large portion of the trip through the credit card, he added.
McAleer said if there's a trip interruption when a traveller is already in transit, the airlines usually provide some services, such as meals and hotel stays.
During labour disruptions, Steven Harris, a licensed insurance broker and LowestRates.ca expert, said while passengers are generally entitled to reimbursement for accommodations, meals and rebooking, airlines are not obligated to compensate for additional costs such as prepaid hotel bookings unless they are specifically covered by the airline's policy or a travel insurance policy.
Air Canada has said customers affected by flight cancellations will be eligible for a full refund. It has also made arrangements with other carriers to provide alternative options, but warns it could take time to secure capacity given other airlines are already full due to the summer travel peak.
Experts say credit card insurance policies come down to understanding the coverage and doing your homework ahead of time.
'We all know there's a reasonable chance this could happen,' he said. 'If I was travelling on those days and likely going to be impacted over that time, I would make that call.'
McAleer said it's important to double-check with the credit card administrator to see if the policy covers labour strikes.
'I'd want to call my credit card issuer and see what my protection was likely going to do,' he said.
'Prepare yourself for any surprise.'
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Ritika Dubey, The Canadian Press
This report by The Canadian Press was first published Aug. 13, 2025.
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National Post
11 minutes ago
- National Post
Bragg Gaming Group Reports Second Quarter 2025 Revenue Increase 4.9% over the Second Quarter of 2024 to EUR 26.1M; 21% year-over-year¹ revenue growth excluding The Netherlands, Proprietary Content Revenue up 44% year over year
Article content TORONTO — Bragg Gaming Group (BRAG:CA) ('Bragg' or the 'Company'), a leading content and technology provider to the online gaming industry, today announced its financial results for the second quarter of 2025. Article content Article content Summary of 2Q25 Financial and Operational Highlights Euros (millions) (1) 2Q25 2Q24 Change Revenue € 26.1 € 24.9 4.9 % Gross profit € 13.7 € 12.4 10.8 % Gross profit margin 52.7 % 49.9 % 280bps Adjusted EBITDA (2) € 3.5 € 3.6 (4.3 )% Adjusted EBITDA Margin (2) 13.3 % 14.5 % (128)bps Operating loss € (2.3 ) € (1.2 ) 93.3 % Article content (1) Bragg's reporting currency is Euros. The exchange rate provided is EUR 1.00 = USD 1.17. Due to fluctuating currency exchange rates, this reference rate is provided for convenience only. (2) 'Adjusted EBITDA' and 'Adjusted EBITDA Margin' are non-IFRS measures. For important information on the Company's non-IFRS measures, see 'Non-IFRS Financial Measures' below. Article content Matevž Mazij, Chief Executive Officer for Bragg, commented: 'In our 2024 strategic review, we identified cash flow, integration and margin as key priorities and value drivers for Bragg Gaming Group. In Q2 we began to focus on integration and optimization. We identified and actioned key areas where we have now optimized our cost structure and have implemented strategies to leverage synergies from acquisitions such as Spin Games and Wild Streak Gaming. Article content Specifically, we have realized EUR 2 Million in annualized synergies from the business, unlocking improved margins for the second half of 2025. Our leadership conducted a comprehensive review of the business to ensure cash flow and margin remain central to all decisions, supported by Bragg's strong underlying cash generation and margin profile. Article content While our top-line growth may appear modest, I want to be clear about our strategic focus. With increasing gaming taxes being implemented in key markets like Brazil, The Netherlands, and Romania, we're prioritizing improved margin and cash flow performance over aggressive revenue expansion. That said, we believe that there are substantial, highly accretive growth opportunities ahead for this business. We intend to pursue these opportunities methodically, with a focus on both margins and cash flow. Article content In terms of content and markets, proprietary content is growing in the U.S. and LatAm. While market conditions in The Netherlands remain challenging with the igaming market gross gaming revenue down 25% this year, Bragg is still outperforming the market, despite these factors coming into play. Article content With this focus on margin and cash flow we have also revised our revenue expectations for the year, while forecasting an improved Adjusted EBITDA Margin for the second half of 2025. We are prioritizing high margin opportunities versus low margin revenue. Article content We've also enhanced our leadership team with two transformational key hires, firstly adding Luka Pataky as our new EVP of AI and Innovation. Luka's appointment comes as we launch an initiative to drive an all encompassing AI-first cultural and technology based change at Bragg. Article content In addition, experienced iGaming industry executive Scott Milford also joins us as our EVP of Group Content, and will propel the next phase in the growth of our online casino content. Article content In summary, we are focused on driving cash flow, integration, and margin, and positioning Bragg for sustainable, profitable growth. The actions taken in Q2 position us to achieve a 20% Adjusted EBITDA Margin target in the second half of 2025.' Article content Key Highlights: Article content Strategic Market Expansion: Launched content with Fanatics Casino across Tri-State area, significantly expanding U.S. content footprint. U.S. Growth Acceleration: Signed exclusive content development agreement with Hard Rock Digital; builds on momentum in U.S. market with increasing share of proprietary content revenue. Brazil Market Focus: Strengthened position in newly regulated Brazilian iGaming market through strategic partnership and investment in local studio RapidPlay. Innovation and Product Development: Launched Big Ticket Bonanza, a gamification tool to drive player engagement. Leadership Strengthening: Appointed Scott Milford as EVP, Group Content, and Luka Pataky as EVP, AI and Innovation, enhancing leadership across AI, content, innovation and technology. Debt: During the quarter, we repaid USD 5.0m of the USD 7.0m secured promissory note that is outstanding. The loan maturity has been extended to September 15, 2025, with an option for a further one-month extension if required. We are in the advanced stages of securing a new working capital revolving debt faculty from a Tier 1 Canadian bank. While the process is taking longer than anticipated, we are optimistic that this will close in Q3. Operational Update: Issued corporate update outlining growth priorities, improved margin initiatives, and expanding addressable markets. Article content 2025 Outlook Article content Previously, the Company anticipated double-digit growth in revenue and Adjusted EBITDA for the full year of 2025 which was driven by a strategic focus on expanding in regulated markets, growing proprietary and exclusive content portfolio, and continuing momentum in growth markets such as the U.S. and LatAm. Article content The Company's focus is on cash flow, integration and margin and as such, while the strategy remains the same, the areas of attention and focus have shifted. The full year 2025 guidance has been revised to reflect higher gaming taxes and market softness in the Netherlands and headwinds in Brazil, as well as broader market conditions impacting key regulated markets. The Company now anticipates full year 2025 revenue between €106.0 million and €108.5 million and Adjusted EBITDA of €16.5 million to €18.5 million. Article content This change reflects a deliberate shift toward higher-quality earnings. The Company is prioritizing margin and cash generation over lower-margin revenue, and synergies realized post-quarter end to become a leaner operation put the Company on track to move Adjusted EBITDA Margin a few percentages higher in the second half of the year compared to the first half of the year. The Company remains focused on growing the business in a sustainable and margin-accretive manner, with strong momentum in the proprietary content and technology pipeline positioning Bragg for long-term profitable growth. Article content Investor Conference Call Article content The Company will host a conference call today at 8:30 a.m. Eastern, and management will discuss the financial and operational performance of the company. A presentation of these results will be made available to download at : To join the call, please use the below dial-in information: Participant Dial-In Numbers USA / International Toll +1 (646) 307-1963 USA – Toll-Free +1 (800) 715-9871 Canada – Toronto +1 (647) 932-3411 Canada – Toll-Free +1 (800) 715-9871 United Kingdom: +44 800 358 0970 Conference ID: 3967732 Article content A webcast of the call may also be followed at: An audio recording of the Event will be available via the Echo Replay platform until August 21, 2025. To access the platform by phone, please dial-in using one of the numbers listed below and input Playback ID: 3967732 followed by # key: Article content Cautionary Statement Regarding Forward-Looking Information Article content This news release contains forward-looking statements or 'forward-looking information' within the meaning of applicable Canadian securities laws ('forward-looking statements'), including, without limitation, statements with respect to the following: the Company's strategic growth initiatives and corporate vision and strategy; financial guidance for 2025, expected performance of the Company's business; expansion into new markets, our strategy for customer retention, growth, product development, and market position; expected future growth and expansion opportunities; expected benefits of transactions; expected future actions and decisions of regulators and the timing and impact thereof. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing readers to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or describes a 'goal', or variation of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Article content All forward-looking statements contained in this news release or the conference call reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made in connection with the forward-looking statements include the regulatory regime governing the business of the Company; the operations of the Company; the products and services of the Company; the Company's customers; the growth of the Company's business, meeting minimum listing requirements of the stock exchanges on which the Company's shares trade; the integration of technology; and the anticipated size and/or revenue associated with the gaming market globally. Article content Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the following: risks related to the Company's business and financial position; that the Company may not be able to accurately predict its rate of growth and profitability; risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the inability to access sufficient capital from internal and external sources; the inability to access sufficient capital on favourable terms; realization of growth estimates, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices; changes in customer demand; disruptions to our technology network including computer systems and software; natural events such as severe weather, fires, floods and earthquakes; any disruptions to operations as a result of the strategic alternatives review process; and risks related to health pandemics and the outbreak of communicable diseases. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws. Article content Non-IFRS Financial Measures Article content Statements in this news release make reference to non-IFRS financial measures, including 'Adjusted EBITDA' and 'Adjusted EBITDA Margin', which are non-IFRS financial measures that the Company believes are appropriate to provide meaningful comparison with, and to enhance an overall understanding of, the Company's past financial performance and prospects for the future. The Company believes these non-IFRS financial measures will provide investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business and making decisions. Although management believes these financial measures are important in evaluating the Company, they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. Non-IFRS measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS. These measures may be different from non-IFRS financial measures used by other companies, limiting their usefulness for comparison purposes. These non-IFRS measures and metrics are used to provide investors with supplemental measures of our operating performance and liquidity and thus highlight trends in our business that may nor otherwise be apparent when relying solely on IFRS measures. Article content 'Adjusted EBITDA' means EBITDA after: (i) adding back share based compensation; (ii) adding back or deducting gain (loss) on lease modification; (iii) deducting lease payments recorded as a depreciation of right-of-use assets and lease interest expense; (iv) adding back or deducting gain (loss) on re-measurement of contingent and deferred consideration; (v) adding back or deducting gain (loss) on re-measurement of derivative liabilities; (vi) adding back or deducting gain (loss) on settlement of convertible debt; (vii) adding back or deducting gain (loss) on disposal of intangible assets and (viii) adding back certain exceptional costs. 'Adjusted EBITDA Margin' means Adjusted EBITDA divided by revenue. A reconciliation to IFRS financial measures is provided in this news release as well as in Company's Management's Discussion and Analysis ('MD&A') for the three-month period ended June 30, 2025. Article content Future Oriented Financial Information Article content This news release and, in particular the information in respect of Bragg's prospective revenues, Adjusted EBITDA and Adjusted EBITDA Margin may contain future oriented financial information ('FOFI') within the meaning of applicable securities laws. The FOFI has been prepared by management to provide an outlook on Bragg's proposed activities and potential results and may not be appropriate for other purposes. The FOFI has been prepared based on assumptions with respect to customer growth and market expansion. Bragg and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments; however, the actual results of operations of Bragg and the resulting financial results may vary from the amounts set forth herein and such variations may be material. FOFI contained in this news release was made as of the date of this news release and Bragg disclaims any intention or obligation to update or revise any FOFI contained in this news release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Article content ( Article content , Article content TSX: BRAG Article content ) is an iGaming content and turnkey technology solutions provider serving online and land-based gaming operators with its proprietary and exclusive content, and cutting-edge technology. Bragg Studios offer high-performing and passionately crafted casino game titles using the latest in data-driven insights from in-house brands including Wild Streak Gaming, Atomic Slot Lab and Indigo Magic. Its proprietary content portfolio is complemented by a cross section of exclusive titles from carefully selected studio partners under the Powered By Bragg program. Games built on Bragg's remote games server (Bragg RGS) technology are distributed via the Bragg Hub content delivery platform and are available exclusively to Bragg customers. Bragg's flexible, modern, omnichannel Player Account Management (PAM) platform powers multiple leading iCasino and sportsbook brands and at all points is supported by expert in-house managed, operational, and marketing services. Content delivered via the Bragg Hub either exclusively or from the Bragg aggregated games portfolio is managed from a single back-office which is supported by powerful data analytics tools, and Bragg's award-winning Fuze™ player engagement toolset. Bragg is licensed, certified, approved and operational in many regulated iCasino markets globally, including the U.S., Canada, Brazil, United Kingdom, Italy, the Netherlands, Germany, Sweden, Spain, Malta and Colombia. Article content Article content LinkedIn Article content Article content Facebook Article content Article content Instagram Article content Financial tables follow: Article content Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue 26,079 24,861 51,584 48,672 Cost of revenue (12,336 ) (12,457 ) (23,557 ) (24,391 ) Gross Profit 13,743 12,404 28,027 24,281 Selling, general and administrative expenses (16,091 ) (13,702 ) (31,898 ) (26,089 ) Gain (Loss) on remeasurement of derivative liability — 38 — (140 ) Gain on settlement of convertible debt — — — 65 Gain (Loss) on remeasurement of deferred consideration — 45 (157 ) (600 ) Operating Loss (2,348 ) (1,215 ) (4,028 ) (2,483 ) Net interest expense and other financing charges (14 ) (930 ) (360 ) (1,522 ) Loss Before Income Taxes (2,362 ) (2,145 ) (4,388 ) (4,005 ) Income taxes (expense) recovery 533 (255 ) (81 ) (299 ) Net Loss (1,829 ) (2,400 ) (4,469 ) (4,304 ) Items to be reclassified to net loss: Cumulative translation adjustment (2,680 ) 387 (4,103 ) 4 Net Comprehensive Loss (4,509 ) (2,013 ) (8,572 ) (4,300 ) Basic Loss Per Share (0.07 ) (0.10 ) (0.18 ) (0.18 ) Diluted Loss Per Share (0.07 ) (0.10 ) (0.18 ) (0.18 ) Millions Millions Millions Millions Weighted average number of shares – basic 25.2 24.0 25.1 23.6 Weighted average number of shares – diluted 25.2 24.0 25.1 23.6 Article content As at As at June 30, December 31, 2025 2024 Cash and cash equivalents 4,242 10,467 Trade and other receivables 24,983 20,072 Prepaid expenses and other assets 4,141 2,624 Total Current Assets 33,366 33,163 Property and equipment 1,299 1,341 Right-of-use assets 3,152 3,510 Intangible assets 31,011 35,859 Goodwill 31,235 32,722 Investments 500 — Other assets 378 — Total Assets 100,941 106,595 Trade payables and other liabilities 26,639 19,946 Income taxes payable 445 463 Lease obligations on right of use assets 867 882 Deferred consideration — 1,244 Share appreciation rights liability 525 — Loans payable 1,696 6,579 Total Current Liabilities 30,172 29,114 Deferred income tax liabilities 594 680 Lease obligations on right of use assets 2,376 2,815 Share appreciation rights liability 437 — Other non-current liabilities 487 487 Total Liabilities 34,066 33,096 Share capital 133,253 131,729 Contributed surplus 18,104 17,680 Accumulated deficit (85,679 ) (81,210 ) Accumulated other comprehensive income 1,197 5,300 Total Equity 66,875 73,499 Total Liabilities and Equity 100,941 106,595 Article content BRAGG GAMING GROUP INC. RECONCILIATION OF OPERATING LOSS TO EBITDA AND ADJUSTED EBITDA PRESENTED IN EUROS (THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) Three Months Ended June 30, Six Months Ended June 30, EUR 000 2025 2024 2025 2024 Net Loss (1,829 ) (2,400 ) (4,469 ) (4,304 ) Income taxes (expense) recovery (533 ) 255 81 299 Loss Before Income Taxes (2,362 ) (2,145 ) (4,388 ) (4,005 ) Net interest expense and other financing charges 14 930 360 1,522 Depreciation and amortization 4,969 3,994 9,689 7,871 EBITDA 2,621 2,779 5,661 5,388 Depreciation of right-of-use assets (215 ) (147 ) (429 ) (373 ) Lease interest expense (25 ) (26 ) (52 ) (60 ) Gain on lease modification (101 ) — Share based compensation 739 420 1,585 604 Exceptional costs 339 672 722 792 (Gain) Loss on remeasurement of derivative liability — (38 ) — 140 Gain on settlement of convertible debt — — — (65 ) (Gain) Loss on remeasurement of deferred consideration — (45 ) 157 600 Article content Article content Article content Article content Contacts Article content For media enquiries or interview requests, please contact: Article content Robert Simmons, Head of Communications at Bragg Gaming Group press@ Article content Investors: Robert Bressler, Chief Financial Officer, Bragg Gaming Group +1 647-480-1591 investors@ Article content
National Post
11 minutes ago
- National Post
TomaGold Launches Strategic Drilling Campaign on its Chibougamau Projects
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Article content This comprehensive modeling effort led to the identification of multiple copper-gold (Cu-Au) mineralized zones controlled by well-defined shear systems, offering substantial upside for future exploration and drilling. This work integrates historical drilling data, geophysical surveys (resistivity and metal factor), and structural interpretation, resulting in a refined geological framework for the Project that confirms several high probability yet untested mineralized targets. Article content TomaGold's CEO David Grondin stated: 'This model provides us with a far more detailed and accurate picture of the lithological, structural, and mineralization architecture at Obalski. It confirms historical mineralization trends and identifies a series of compelling, high-confidence exploration targets observed elsewhere in the Chibougamau Mining Camp, based on recent work by the TomaGold technical team. 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A younger 020° (NE-SW) trending shear that offsets the former structure and appears to host predominantly gold mineralization. Article content The intersection of these two systems creates structurally favorable zones with increased permeability, representing high-priority targets for hydrothermal fluid migration and metal deposition. This structural configuration is clearly illustrated in Figure 1. Article content Article content 2. Spatial Association Between Mineralization and Intrusive Contacts Article content Numerical models of copper assays revealed that Cu enrichment is concentrated along the margins of intrusive units—particularly dioritic and granitic contacts. These observations support a genetic link between magmatic activity and mineralization. The highest assay clusters occur near structurally disrupted intrusive contacts. This correlation is well depicted in Figures 2 and 3. Article content 3. Well-Defined Mineralized Zone and Orientation Article content The integrated model delineates a mineralized zone trending north-northeast with a moderate plunge of approximately 32° toward the east. This geometry aligns with regional shear zones and provides a clear vector for down-plunge drilling extensions, shown in Figure 4. Article content 4. Predictive Mineralization Modelling Validates Untested High-Potential Zones Article content The 3D distance-based predictive model combines geophysics, lithology, and geochemistry to estimate the probability of mineralization. The zones with the highest potential for mineralization (shown in purple and dark blue shells in Figure 5 below) are concentrated along structural intersections and lithological boundaries between pillowed volcanics and intrusive rocks. Article content Exploration Upside and Targeting Strategy Article content The integration of geological, structural, and assay data defines multiple high-priority exploration targets, which are summarized as follows: Article content Structural intersections of the N110° (SE-NW) and NE-SW trending shears offer the greatest potential for mineralized shoots. Intrusive-volcanic contacts (especially where sheared) consistently correlate with higher copper and gold grades. Down-plunge extensions along the 32° plunge trend remain open and under-drilled. The southeastern area of the Project, where folding and intrusive complexity are observed (potential dioritic trap), presents a newly recognized exploration opportunity. Parallel, underexplored structures may host additional mineralized lenses. Article content This targeting strategy is supported by both structural logic and assay correlations, enhancing drill efficiency and reducing exploration risk. Article content Recommendations and Next Steps Article content To optimize future exploration success, the report recommends the following: Article content Increasing the assay dataset through systematic sampling of drill holes, particularly across lithological and structural contacts. Standardizing core logging protocols, with a focus on alteration, structure, and geochemical pathfinder elements. Re-logging historic cores with updated multi-element and trace element geochemistry (e.g., pXRF and spectral analysis). Expanding geophysical coverage, including high-resolution passive and active seismic surveys (in collaboration with the Smart Exploration Centre). Widening the geochemical scope beyond Au and Cu to include Ag, Zn, Bi, Te, and other pathfinder elements.
Globe and Mail
11 minutes ago
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The CI Distribution Reinvestment Plan (DRIP) will automatically reinvest cash distributions into the CI ETF making the distribution. All of the distributions indicated in the table above will be paid in cash unless the unitholder has enrolled in the applicable DRIP of the respective ETF. For more information on how to enroll in DRIP and other considerations, please see the applicable ETF's prospectus. About CI Global Asset Management CI Global Asset Management is one of Canada's largest investment management companies. It offers a wide range of investment products and services and is on the web at CI Global Asset Management is a subsidiary of CI Financial Corp., an integrated global asset and wealth management company with $550.9 billion in total assets as at June 30, 2025. Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds and exchange-traded funds (ETFs). Please read the prospectus before investing. In the case of Money Market Funds, note that mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. Important information about mutual funds and ETFs is contained in their respective prospectus. Mutual funds and ETFs are not guaranteed; their values change frequently, and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. CI Liquid Alternative investment funds have the ability to invest in asset classes or use investment strategies that are not permitted for conventional mutual funds. The specific strategies that differentiate these investment funds from conventional fund structure include increased use of derivatives for hedging and non-hedging purposes; increased ability to sell securities short; and the ability to borrow cash to use for investment purposes. While these strategies will be used in accordance with the investment funds' investment objectives and strategies, during certain market conditions they may accelerate the pace at which your investment decreases in value. This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor. Certain statements in this document are forward-looking. Forward-looking statements ('FLS') are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as 'may,' 'will,' 'should,' 'could,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' or 'estimate,' or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained herein are based upon what CI Global Asset Management and the portfolio manager believe to be reasonable assumptions, neither CI Global Asset Management nor the portfolio manager can assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise. The CI Exchange-Traded Funds (ETFs) are managed by CI Global Asset Management, a wholly owned subsidiary of CI Financial Corp. (TSX: CIX). One Capital Management, LLC, Marret Asset Management Inc., and DoubleLine Capital LP are portfolio sub-advisors to certain funds offered and managed by CI Global Asset Management. Marret Asset Management Inc. is an affiliate of CI Global Asset Management.
