TORONTO, July 29, 2022 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc.(CAMI), as manager of the CIBC Exchange Traded Funds, announced today the final net asset value (NAV) and net proceeds for CIBC Multifactor Canadian Equity ETF (TSX: CMCE) and CIBC Multifactor U.S. Equity ETF (TSX: CMUE) (common units) and (TSX: CMUE.F) (hedged units). Collectively, the "CIBC Strategic Beta ETFs".

As announced on May 16, 2022, the CIBC Strategic Beta ETFs were delisted from the Toronto Stock Exchange at CAMI's request as of market close on July 26, 2022, and will be terminated as of the close of business today, July 29, 2022.

Effective today, the net proceeds of each of the CIBC Strategic Beta ETFs will be distributed to the CIBC Strategic Beta ETFs unitholders on a pro-rata basis as detailed in the table below.

The final NAV per unit consists of the following:

CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html

CIBC Asset Management Inc. (CAM), the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM's offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals, and institutional portfolio management. CAM is one of Canada's largest asset management firms, with over $150 billion in assets under administration as of June 2022.

SOURCE CIBC