TORONTO, April 1 /CNW/ - AlphaPro Management Inc. ("AlphaPro"), manager of the Horizons AlphaPro exchange-traded funds, is pleased
to announce the closing of its previously announced offering (the "Offering") of an additional 862,597 Class A Units and 138,350 Class F Units
(collectively, the "Units") of the Horizons Gold Yield Fund (the "Fund") representing gross proceeds of approximately $9.92 million. The
Offering was made through a short form prospectus of the Fund dated
March 25, 2011, which qualified the distribution of the additional
Units at a price of $9.90 per Class A Unit and $10.00 per Class F
Unit. Since its launch in December 2010, the Fund has issued a total
of approximately 6.27 million Units, for gross proceeds of
approximately of $62.5 million. The Class A Units of the Fund are listed for trading on the
Toronto Stock Exchange ("TSX") under the symbol HGY.UN.
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. AlphaPro has set the targeted monthly
distribution rate for the second quarter of 2011 at $0.0542 per Unit
($0.65 per annum to yield 6.56% per annum on the issue price of $9.90
per Class A Unit and 6.5% per annum on the issue price of $10.00 per
Class F Unit). It is expected that monthly distributions received by
investors will consist primarily of return of capital.
The Offering was conducted by a syndicate of agents co-led by BMO
Capital Markets, CIBC and National Bank Financial Inc. and included RBC
Capital Markets, TD Securities Inc., Scotia Capital Inc., GMP
Securities L.P., HSBC Securities (Canada) Inc., Canaccord Genuity
Corp., Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins
Securities Inc., Dundee Securities Ltd., Mackie Research Capital
Corporation, MGI Securities Inc. and Union Securities Ltd.
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
more than $600 million as of March 31, 2011. AlphaPro is a subsidiary
of BetaPro Management Inc. ("BetaPro"). BetaPro manages the Horizons BetaPro family of exchange traded
funds, a broadly diversified range of investment tools with solutions
for investors of all experience levels to meet their investment
objectives in a variety of market conditions. The Horizons BetaPro ETFs
include several types of structures: single, inverse, leveraged,
inverse leveraged and spread ETFs. BetaPro manages approximately $2.3
billion in assets as of March 31, 2011. BetaPro is a subsidiary of
Jovian Capital Corporation (JOV:TSX).
SOURCE AlphaPro Management Inc.
For further information:
Ken McCord, President, AlphaPro Management Inc., (416) 933-5746