BetaPro Management Inc. Files New Horizons BetaPro Double Gold Bullion Fund Preliminary Prospectus


    TORONTO, May 19 /CNW/ - BetaPro Management Inc. ("BetaPro"), the manager
of the Horizons BetaPro Exchange Traded Funds, is pleased to announce the
filing of a preliminary prospectus for the Horizons BetaPro Double Gold
Bullion Fund.
    The Fund's investment objective is to provide holders of units of a class
with long-term exposure to physical gold bullion with an initial value equal
to approximately twice the net proceeds of the offering of the class. The Fund
is intended to provide a secure, convenient, liquid, low-cost leveraged
alternative for investors interested in an investment in physical gold
bullion, with some unique redemption options (cash or gold bullion).
    The Fund will borrow sufficient funds in respect of each class pursuant
to a secured loan facility with a Canadian chartered bank such that after the
closing of the offering of each class, the Fund will be able to purchase
physical gold bullion with a value equal to twice the net proceeds of the
offering of that class.
    Investors may purchase either Class U Units which are denominated in U.S.
dollars or Class C Units which are denominated in Canadian dollars. Given that
gold bullion is priced in U.S. dollars, the Fund will hedge substantially all
of the U.S. dollar currency value of the assets of the Class C Units back to
the Canadian dollar. As a result, Class C Units will provide exposure to gold
while reducing the USD/CAD currency risk for investors in that Class.
    The syndicate of agents for the offerings is being led by BMO Nesbitt
Burns Inc. and Macquarie Capital Markets Canada Ltd.

    About BetaPro Management Inc. (

    BetaPro is Canada's largest provider of leveraged, inverse leveraged and
inverse exchange traded funds ("ETFs"). BetaPro also launched the first
leveraged commodity ETFs in North America. BetaPro currently has over Cdn $2.3
billion in assets under management in the Horizons BetaPro ETFs. BetaPro is a
subsidiary of Jovian Capital Corporation.

    About Jovian Capital Corporation (

    Jovian Capital Corporation ("Jovian") is a publicly-traded company listed
on the Toronto Stock Exchange. 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 Funds Inc., JovFunds Inc., JovFunds Management Inc., JovInvestment
Management Inc., Leon Frazer & Associates Inc., MGI Securities Inc., MGI
Securities (USA) Inc., MGI Financial Inc., T.E. Wealth and Felcom Data
Services Inc.) manages $12.0 billion of client assets ($6.5 billion in assets
under management and $5.5 billion in assets under administration). Additional
information is available at and

    A preliminary prospectus containing important information relating to
these securities has been filed with securities commissions or similar
authorities in all provinces and territories of Canada. The preliminary
prospectus is still subject to completion or amendment. Copies of the
preliminary prospectus may be obtained from your IIROC registered financial
advisor. There will not be any sale or any acceptance of an offer to buy the
securities until a receipt for the final prospectus has been issued.

For further information:

For further information: Howard Atkinson, President, BetaPro Management
Inc., (416) 777-5167; or Don Sangster, Investor Relations, Jovian Capital
Corporation, (416) 933-5744

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Jovian Capital Corporation

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