NewGrowth Corp. Retains Financial Advisor

TORONTO, Dec. 3, 2013 /CNW/ - NewGrowth Corp. (the "Company") announced today that its Board of Directors has retained Scotiabank to advise the Company on a possible extension and reorganization of the Company. There is no guarantee such an extension will be proposed and if proposed, will be approved by shareholders.

NewGrowth Corp. is a mutual fund corporation whose investment portfolio consists of publicly-listed securities of selected Canadian chartered banks, telecommunication, pipeline and utility issuers.  The Capital Shares and Preferred Shares of NewGrowth Corp. are listed for trading on The Toronto Stock Exchange under the symbols NEW.A and NEW.PR.C respectively.

SOURCE NewGrowth Corp.

For further information:

Investor Relations 
NewGrowth Corp.
(416) 862-3931
E-mail: mc.newgrowth@scotiabank.com
Web site: www.scotiamanagedcompanies.com