Canadian Convertibles Plus Fund Closes Follow-On Offering

TORONTO, April 11, 2012 /CNW/ - Canadian Convertibles Plus Fund (the "Fund") (TSX: CCI.UN) announces that it has completed its follow-on offering (the "Offering") of 2,200,000 Units the Fund at $8.85 per unit, for gross proceeds of $19,470,000.The Fund has granted the agents an over-allotment option, exercisable in whole or in part at any time up to 30 days after closing, to purchase an additional 330,000 units at a price of $8.85 per unit.

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

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