ROI Canadian High Income Mortgage Fund, ROI Canadian Mortgage Income Fund and ROI Canadian Real Estate Fund Announce Approval of Normal Course Issuer Bids

TORONTO, Dec. 5, 2012 /CNW/ - Return On Innovation Advisors Ltd. (the "Manager") is pleased to announce that the Toronto Stock Exchange ("TSX") has approved the notice of intention to make a normal course issuer bid (the "NCIB") for the outstanding Class A units (the "Units") of each of ROI Canadian High Income Mortgage Fund (formerly ROI High Income Private Placement Fund), ROI Canadian Mortgage Income Fund (formerly ROI Private Placement Fund) and ROI Canadian Real Estate Fund (formerly ROI Strategic Private Placement Fund) (each a "Fund" and collectively, the "Funds").

Purchases of the Units pursuant to the NCIBs will be executed through the facilities of the TSX at market prices under the NCIB rules of the TSX.  The actual number of Units which may be purchased, and the timing of any such purchases, will be determined by the Manager. All Units purchased under the NCIB will be cancelled. The NCIB for each Fund shall terminate on the earlier of December 6, 2013 and the date on which such Fund has acquired the Units sought under the NCIB.

ROI Canadian High Income Mortgage Fund

Pursuant to its NCIB notice, ROI Canadian High Income Mortgage Fund (TSX:RIH.UN) is entitled to purchase up to 5,245,669 Units, representing 10% of its public float during the twelve month period commencing December 7, 2012 and ending on December 6, 2013. There are currently 54,199,057 Units of ROI Canadian High Income Mortgage Fund issued and outstanding and the public float is 52,456,699 Units. The Fund is permitted to purchase, under the NCIB, up to 1,083,981 of its Units in a given 30-day period and currently has sufficient cash available to do so.

ROI Canadian Mortgage Income Fund

Pursuant to its NCIB notice, ROI Canadian Mortgage Income Fund (TSX:RIL.UN) is entitled to purchase up to 4,686,235 Units, representing 10% of its public float during the twelve month period commencing December 7, 2012 and ending on December 6, 2013. There are currently 46,865,456 Units of ROI Canadian Mortgage Income Fund issued and outstanding and the public float is 46,862,350 Units. The Fund is permitted to purchase, under the NCIB, up to 937,309 of its issued and outstanding Units in a given 30-day period and currently has sufficient cash available to do so.

ROI Canadian Real Estate Fund

Pursuant to its NCIB notice, ROI Canadian Real Estate Fund (TSX:RIR.UN) is entitled to purchase up to 1,974,173 Units representing 10% of its public float during the twelve month period commencing December 7, 2012 and ending on December 6, 2013. There are currently 24,892,170 Units of ROI Canadian Real Estate Fund issued and outstanding and the public float is 19,741,738 Units. The Fund is permitted to purchase, under the NCIB, up to 497,483 of its issued and outstanding Units in a given 30-day period and currently has sufficient cash available to do so.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Return On Innovation Advisors Ltd. undertakes no obligation to update publicly or otherwise revise any forward looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law. Investment funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There is no guarantee that an investment in the Funds will earn any positive return in the short or long term nor is there any guarantee that the Funds' investment objectives will be achieved or that the net asset value per unit will appreciate or be preserved.

SOURCE: ROI Capital

For further information:

David Sharpe LLB, LLM, MBA
President
416 361-6162