Historical transactions by a business unit of CI Investments Inc. of restricted voting shares of Kinder Morgan Canada Limited

TORONTO, Oct. 17, 2018 /CNW/ - This news release is being made by CI Investments Inc. on behalf of its business unit, Cambridge Global Asset Management (the "Investment Manager"), to report historical transactions by the Investment Manager in respect of restricted voting shares ("Shares") of Kinder Morgan Canada Limited (the "Reporting Issuer"), a company with a head office at Suite 2700, 300 - 5th Avenue SW, Calgary, Alberta T2P 5J2.

The transactions outlined below are historical and were all effected through the facilities of the Toronto Stock Exchange.  Through inadvertence, a report with respect to these transactions was not previously filed.

On September 7, 2018, the Investment Manager acquired, on behalf of accounts and investment funds managed by it, 2,015,799 Shares (the "First Reportable Event"). Immediately before the First Reportable Event, the Investment Manager held 16,753,588 Shares, representing approximately 16.11% of the issued and outstanding Shares.  Immediately after the First Reportable Event, the Investment Manager held 18,769,387 Shares, representing approximately 18.04% of the issued and outstanding Shares.

On September 14, 2018, the Investment Manager acquired, on behalf of accounts and investment funds managed by it, 1,063,000 Shares (the "Second Reportable Event"). Immediately before the Second Reportable Event, the Investment Manager held 20,727,323 Shares, representing approximately 19.93% of the issued and outstanding Shares. Immediately after the Second Reportable Event, the Investment Manager held 21,790,323 Shares, representing approximately 20.95% of the issued and outstanding Shares.

In connection with the First Reportable Event, the Shares were acquired for $33,143,166.29 in total, at prices of $16.4346 and $16.4915 per Share.  In connection with the Second Reportable Event, the Shares were acquired for $18,020,913.70 in total, at prices of $16.75 and $16.9999 per Share.

The Investment Manager, on behalf of the accounts and investment funds managed by it, acquired the Shares for investment purposes and not in order to exercise control or direction over the Reporting Issuer.

As at the date hereof, the Investment Manager, through accounts and investment funds managed by it, holds an aggregate of 22,452,916 Shares, representing approximately 21.58% of the issued and outstanding Shares. It is the understanding of the Investment Manager that this represents approximately 6.45% of the voting securities of the Reporting Issuer given the issued and outstanding special voting shares of the Reporting Issuer.

The Investment Manager is in the process of an orderly disposition of Shares through the facilities of the TSX in order to bring its securityholding percentage in the Shares to below 20%.  Once the Investment Manager's securityholding percentage in the Shares is less than 20%, the Investment Manager may hold or, from to time, dispose of some or all of the Shares over which it exercises control or direction, depending on market conditions, the business and prospects of the Reporting Issuer and other relevant factors. 

An early warning report with respect to the transactions above will be filed today on the Issuer's SEDAR profile at www.sedar.com, and may also be obtained by contacting CI Investments Inc. This news release is made by CI Investments Inc., on behalf of the Investment Manager, in reliance on sections 5.1 and 5.2 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. Securities owned or controlled by other business units, affiliates or other investments funds have not
been, or may not have been, disclosed.

SOURCE CI Financial Corp.