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Implementation of Net Asset Value

April 26, 2018

Dear Fellow Investors:

In accordance with the unitholder resolution passed at the 2017 Annual General Meeting, Romspen Mortgage Investment Fund (the “Fund”) has set a date for implementing changes to the valuation methodology and purchase/redemption prices for Fund units.

Beginning on May 1, 2018, all purchases and redemptions of Fund units will occur at the applicable Net Asset Value per unit. This change will make possible the holding of fractional unit balances, thereby eliminating the need to return tiny residual amounts (i.e. below $10) to investors.

These changes were incorporated into the Fund’s most recent Offering Memorandum, a Supplement to which was issued pending the implementation date. Effective May 1, 2018, the Supplement will no longer be of any effect.

We believe these changes are consistent with the Fund's long-term investment strategy, will promote operational stability and are in the best interests of unitholders and the Fund.

On behalf of the Romspen team, we thank you for your continued support.

For further information or questions please contact Investor Relations at: 416-966-1100 or investorrelations@romspen.com.

Sincerely,

Sheldon Esbin, Mark Hilson, Arthur Resnick, Wesley Roitman

Trustees of the Fund



 
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