Shale & Oil Sands Portfolio Series 1

Under normal circumstances, the Trust will invest at least 80% of the value of its assets in common stocks of companies with a material focus in the shale and/or oil sands business.

See “Investment Policies” in Part B of the prospectus for additional information.

The Sponsor has selected securities for the portfolio that have the potential to achieve the Trust's investment objective. The Sponsor has entered into a research partnership with Revere Data, LLC (“Revere”). The initial starting universe used by Revere included any company classified by Global Industry Classification Standard (GICS) as Energy within the Russell 3000® Index and the S&P/Toronto Stock Exchange Composite Index. The initial starting universe is then separated into two groups:

• Asset owners: firms with tangible unconventional energy producing assets ranked by reserves

• Suppliers: firms that provide services, supplies or pipelines to assist the asset owners ranked by supplier-customer relationships from the top names in the asset owner group.

From the asset owner group, approximately 21 names are selected representing 70% of the portfolio. From the suppliers group, approximately 9 names are selected representing 30% of the portfolio. The final 30 names are then equally weighted in the final portfolio as of the date of selection, which was three business days before the initial date of deposit (the “Inception Date”).

Index Definitions:  Russell 3000® Index  measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which reporesents approximately 98% of the investable U.S. equitey market. The S&P/Toronto Stock Exchange Composite Index is a capitalization-weighted index designed to measure market activity of stocks listed on the Toronto Stock Exchange.  Indexes are unmanaged and it is not possible to invest directly in an index.

As with all investments, you may lose some or all of your investment in the Trust. No assurance can be given that the Trust’s investment objective will be achieved. The Trust also might not perform as well as you expect. This can happen for reasons such as these:

• Securities prices can be volatile. The value of your investment may fall over time. Market value fluctuates in response to various factors. These can include stock market movements, purchases or sales of securities by the trust, government policies, litigation, and changes in interest rates, inflation, the financial condition of the securities’ issuer or even perceptions of the issuer. Units of the Trust are not deposits of any bank and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

• Due to the current state of the economy, the value of the securities held by the Trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers. Starting in December 2007, economic activity declined across all sectors of the economy, and the United States experienced increased unemployment. The economic crisis affected the global economy with European and Asian markets also suffering historic losses. Standard & Poor’s Rating Services lowered its long-term sovereign credit rating on the United States to “AA+” from “AAA,” which could lead to increased interest rates and volatility. Extraordinary steps have been taken by the governments of several leading countries to combat the economic crisis; however, the impact of these measures is not yet fully known and cannot be predicted.

• The Trust invests in securities issued by companies with a material focus in the shale and/or oil sands business, which is a subset of the energy sector. Shale is an unconventional fossil fuel source and can be mined and processed to generate oil. Stock prices for companies in the energy and oil sectors are affected by supply and demand both for their specific product or service and for energy products in general. The price of oil, exploration and production spending, government regulation, world events and economic conditions will likewise affect the performance of these companies. Weak demand for the companies’ products or services or for energy products and services in general, as well as negative developments in the energy sector generally, would adversely impact the Trust’s performance. Oil sands reserves produce what is sometimes referred to as synthetic crude oil. The marketability of synthetic crude oil is affected by many of the same factors that affect conventional crude oil and the energy sector in general including, but not limited to, market fluctuations of prices and government regulation. However, because operating costs to produce synthetic crude oil from oil sands may be substantially higher than operating costs to produce conventional crude oil, an increase in such costs or a reduction in the price of synthetic crude oil or competing products may render mining resources from oil sands uneconomical.

• The Trust invests in securities issued by small-capitalization and mid-capitalization companies. These securities customarily involve more investment risk than securities of large-capitalization companies. Small-capitalization and mid-capitalization companies may have limited product lines, markets or financial resources and may be more vulnerable to adverse general market or economic developments.

• Share prices or dividend rates on the securities in the Trust may decline during the life of the Trust. There is no guarantee that the issuers of the securities will declare dividends in the future and, if declared, whether they will remain at current levels or increase over time.

• The Trust invests in U.S.-listed foreign securities and foreign securities listed on a foreign exchange. The Trust’s investment in foreign securities presents additional risk. Securities of foreign issuers present risks beyond those of domestic securities. More specifically, foreign risk is the risk that foreign securities will be more volatile than U.S. securities due to such factors as adverse economic, currency, political, social or regulatory developments in a country, including government seizure of assets, excessive taxation, limitations on the use or transfer of assets, the lack of liquidity or regulatory controls with respect to certain industries or differing legal and/or accounting standards. In addition, the Trust’s investment in Energy Companies may expose unitholders to additional risks that may be associated with Canada or the Canadian securities markets.

• The Trust includes securities whose value may be dependent on currency exchange rates. The U.S. dollar value of these securities may vary with fluctuations in foreign exchange rates. Most foreign currencies have fluctuated widely in value against the U.S. dollar for various economic and political reasons such as the activity level of large international commercial banks, various central banks, speculators, hedge funds and other buyers and sellers of foreign currencies.

• The Trust includes securities issued by companies headquartered or incorporated in Canada. As a result, political, economic or social developments in Canada may have a significant impact on the securities included in the trust. See “Investment Risks” for additional information concerning the risks associated with an investment in securities issued by companies located in Canada.

• The Trust may invest in companies that are considered to be passive foreign investment companies (“PFICs”). In general, PFICs are certain non-U.S. corporations that receive at least 75% of their annual gross income from passive sources (such as interest, dividends, certain rents and royalties or capital gains) or that hold at least 50% of their assets in investments producing such passive income. As a result of an investment in PFICs, the Trust could be subject to U.S. federal income tax and additional interest charges on gains and certain distributions with respect to those equity interests, even if all the income or gain is distributed to its unitholders in a timely manner. The Trust will not be able to pass through to its unitholders any credit or deduction for such taxes.

• Inflation may lead to a decrease in the value of assets or income from investments.

• The Sponsor does not actively manage the portfolio. The Trust will generally hold, and may, when creating additional units, continue to buy, the same securities even though a security’s outlook, market value or yield may have changed.

See “Investment Risks” in Part A of the prospectus and “Risk Factors” in Part B of the prospectus for additional information.