The Alchemist Fund, LLC (“The Alchemist Fund”) is a registered investment advisor with the State of Vermont.

The Alchemist Fund and its representatives are in compliance with the current filing requirements imposed upon registered investment advisors by those states in which The Alchemist Fund maintains clients. The Alchemist Fund may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements.

The Alchemist Fund's website is limited to the dissemination of general information pertaining to its advisory services. Accordingly, the publication of The Alchemist Fund's website on the Internet should not be construed by any consumer and/or prospective client as The Alchemist Fund's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by The Alchemist Fund with a prospective client shall be conducted by a representative that is either registered or qualifies for an exception or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of The Alchemist Fund, please contact the state securities law administrators for those states in which The Alchemist Fund maintains a notice filing. A copy of The Alchemist Fund's current written disclosure statement discussing The Alchemist Fund's business operations, services, and fees is available from The Alchemist Fund upon written request.

The Alchemist Fund is non-diversified, which means that it invests in a smaller number of securities when compared to more diversified funds. Therefore, The Alchemist Fund is exposed to greater individual security volatility than diversified funds. The Alchemist Fund can invest in foreign securities which may involve greater volatility and political, economic, and currency risks and differences in accounting methods. The Alchemist Fund may also invest in “special situations” to achieve its objectives. These strategies may involve greater risks than other fund strategies. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Lower-rated and non-rated securities present greater loss to principal than higher-rated securities.

The Alchemist Fund’s investment objectives, risks, and fees should be considered carefully before investing. The written disclosure statement (Form ADV) contains this and other important information about The Alchemist Fund, and may be obtained by calling (802) 272-3300 or by visiting www.adviserinfo.sec.gov. Read it carefully before investing.