March [●], 2018 Board of Trustees Exchange Listed Funds Trust Board of Trustees AdvisorShares TrustRe: Agreement • March 7th, 2018 • Exchange Listed Funds Trust
Re: Agreement and Plan of Reorganization, dated as of [●] (the “Agreement”), by and among (i) AdvisorShares Trust, a Delaware statutory trust (the “Target Entity”), on behalf of its series AdvisorShares Peritus High Yield ETF (the “Target Fund”); (ii) Exchange Listed Funds Trust, a Delaware business trust (“Acquiring Entity”), on behalf of its series [Peritus High Yield ETF] (the “Acquiring Fund”); (iii) solely for the purposes of Section 9.1 of the Agreement, Cobalt Falcon, LLC (“Cobalt Falcon”); and (iv) solely for the purposes of Section 9.1 of the Agreement, AdvisorShares Investments, LLC (“AdvisorShares”).
