Horizons AlphaPro Launches Innovative Gold Yield Fund

TORONTO, Nov. 30 /CNW/ - Jovian Capital Corporation ("Jovian" JOV:TSX) and its subsidiary AlphaPro Management Inc. ("AlphaPro"), manager of the Horizons AlphaPro exchange-traded funds (the "ETFs"), are pleased to announce the filing of a final prospectus in respect of the initial public offering of units of the Horizons Gold Yield Fund (the "Fund") for a maximum offering size of $100 Million. The offering is expected to close on or about December 20, 2010. The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Class A units under the symbol (HGY.UN), subject to fulfillment of the standard listing requirements of the TSX. The Fund offering comprises Class A and Class F Units (the "Units") priced at $10.00 per Unit.

The Fund's investment objectives are to provide holders of Units with: (i) exposure to the price of gold bullion hedged to the Canadian dollar, less the Fund's fees and expenses; and (ii) tax-efficient monthly distributions, initially expected to be $0.0542 per Unit ($0.65 per annum to yield 6.5% on the issue price of $10.00 per Unit).  It is initially expected that monthly distributions received by investors will consist primarily of return of capital.

The Fund was created to offer investors a low cost exposure to the price of gold bullion, while providing monthly tax-efficient distributions. The Fund will seek to achieve its investment objectives by gaining exposure to a portfolio consisting of securities and other instruments that provide exposure to the price of gold bullion (the "Gold Portfolio").   The Gold Portfolio will be managed by JovInvestment Management Inc. (the "Portfolio Manager").  The Portfolio Manager intends to write at-the-money covered call options on approximately, and not more than, 33% of the securities in the Gold Portfolio. The Portfolio Manager will not manage the call option writing strategy to achieve a specific target return, but will manage it to generate attractive option premiums that temper the volatility associated with owning the Gold Portfolio. The Gold Portfolio does not invest in the shares of gold mining companies and does not employ leverage.

"With this new launch, Canadian investors gain exposure to gold which has emerged as a long term global store of value, serves as a strong inflationary hedge and can reduce portfolio risk. The Fund also features exposure to a conservative option-writing strategy to provide tax-efficient monthly distributions. We believe this launch significantly increases our offering for Canadian investors who are seeking a yield-plus type of investment opportunity," commented Ken McCord, President of AlphaPro.

In addition, to enhance overall liquidity, the Fund is expected to convert automatically to an ETF by no later than July 31, 2012.

The syndicate of agents for the offering is being led by BMO Capital Markets, CIBC and National Bank Financial Inc. and includes, RBC Capital Markets, Scotia Capital Inc., Canaccord Genuity Corporation, HSBC Securities (Canada) Inc., GMP Securities L.P., Raymond James Ltd., Dundee Securities Corporation, Mackie Research Capital Corporation, Macquarie Private Wealth Inc., MGI Securities Inc., Rothenberg Capital Management Inc. and Wellington West Capital Markets Inc.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Fund. The Fund is not guaranteed, its value will change frequently and past performance may not be repeated. This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from one the agents above. Investors should read the prospectus before making an investment decision.

About AlphaPro Management Inc. (www.HAPETFs.com)
AlphaPro is an innovative financial services company specializing in actively managed exchange traded funds with assets under management of approximately $475 million in AUM million as of October 29, 2010. AlphaPro is a subsidiary of BetaPro Management Inc. ("BetaPro"). BetaPro is Canada's largest provider of single, inverse, leveraged and spread ETFs. BetaPro manages approximately $2.5 billion in assets as of October 29, 2010. BetaPro is a subsidiary of Jovian Capital Corporation.

About Jovian Capital Corporation (www.joviancapital.com)
Jovian acquires, creates and grows financial services companies specializing in wealth and asset management. The Jovian group of companies (AlphaPro Management Inc., BetaPro Management Inc., Horizons Exchange Traded Funds Inc., Hahn Investment Stewards & Company Inc., Horizons Funds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc., MGI Financial Inc., MGI Securities Inc., MGI Securities (USA) Inc. and T.E. Wealth) manages $12.5 billion of client assets ($7.5 billion in assets under management and $5.0 billion in assets under administration). Additional information is available at www.sedar.com.

For further information:

Adam Davis, Investor Relations, Jovian Capital Corporation, [phone]; or
Ken McCord, President, AlphaPro Management Inc. [phone]