Canadian Convertibles Plus Fund Announces Filing of Short Form Prospectus

TORONTO, March 23, 2012 /CNW/ - Canadian Convertibles Plus Fund (TSX: CCI.UN) (the "Fund") announces that it has filed a preliminary short form prospectus dated March 22, 2012 with the securities regulatory authorities of all of the Canadian provinces and territories with respect to an additional offering of units of the Fund.

The Fund has exposure to an actively managed diversified portfolio (the "Portfolio") comprised primarily of convertible debentures of Canadian issuers. The Fund is managed by Propel Capital Corporation ("Propel"). The Fund's Portfolio Manager is Fiera Sceptre Inc. ("Fiera").

The Fund's investment objectives are to provide holders of Units ("Unitholders") with:

i.     quarterly tax-advantaged distributions; and
ii.     preservation of capital; and
iii.    the opportunity for capital appreciation.

Propel is responsible for creating, structuring, managing, and promoting the Fund and the Portfolio Trust. Propel has retained Fiera to provide portfolio management services to the Fund and Portfolio Trust. Fiera is one of the largest independent money managers in Canada with over $29 billion in assets under management, including approximately $19.4 billion in fixed income assets.

The syndicate of agents for this offering is being led by BMO Capital Markets, CIBC, and RBC Capital Markets, and includes National Bank Financial Inc., GMP Securities L.P.,  Scotiabank, TD Securities Inc.,  Canaccord Genuity Corp., Desjardins Securities Inc., Raymond James Ltd., Dundee Securities Corporation, Macquarie Private Wealth Inc., and Manulife Securities Inc.

A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from one of the dealers noted above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

Raj Lala, President, Propel Capital at 416-572-2364 or visit www.propelcapital.ca