Horizons AlphaPro Gartman Fund announces Initial Public Offering

    TORONTO, Feb. 2 /CNW/ - AlphaPro Management Inc. ("AlphaPro") is pleased
to announce that it has filed a preliminary prospectus in respect of an
initial public offering of Class A and Class F Units of the Horizons AlphaPro
Gartman Fund (the "Fund").
    The Fund has been created to provide investors with the opportunity for
capital appreciation through exposure to the investment strategies of The
Gartman Letter, L.C. ("Gartman"), founded by Dennis Gartman, who is also the
author of the daily publication The Gartman Letter(TM). The net proceeds of
the offering will be invested in an actively managed portfolio of investments
that Gartman believes will provide the greatest opportunity for consistent
capital appreciation through all market and business cycles. Gartman will use
a combination of fundamental, macro-economic and technical analyses to
identify investment opportunities that will provide long and short exposure to
multiple asset classes including global equities, commodities, fixed income
and currencies. The Fund will invest in a variety of portfolio securities and
instruments which may include, but are not limited to, equity securities,
futures contracts and exchange-traded funds ("ETFs").
    The Fund is expected to automatically convert into an actively managed
ETF on or after September 30, 2009 and, in any event, no later than March 31,
2010. AlphaPro will be the manager and trustee of the Fund and its affiliate
JovInvestment Management Inc. will be the investment manager of the Fund,
responsible for implementing the Fund's investment strategies and engaging the
services of Gartman to act as sub-advisor to the Fund. The syndicate of agents
for the offerings is being led by CIBC World Markets Inc. and BMO Nesbitt
Burns Inc. and includes National Bank Financial Inc., Scotia Capital Inc.,
HSBC Securities (Canada) Inc., Dundee Securities Corporation, Canaccord
Capital Corporation, Blackmont Capital Inc., MGI Securities Inc., Raymond
James Ltd., Wellington West Capital Markets Inc. and Desjardins Securities

    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.

    About AlphaPro Management Inc.

    AlphaPro Management Inc., the manager and the trustee of the Horizons
AlphaPro ETFs, ("AlphaPro"), is an innovative financial services company
specializing in actively managed ETFs. AlphaPro is a subsidiary of BetaPro
Management Inc. ("BetaPro"). BetaPro is Canada's largest provider of leveraged
and inverse leveraged ETFs. BetaPro managed over $1.9 billion in assets in the
BetaPro ETFs as at December 31, 2008. BetaPro is an indirect subsidiary of
Jovian Capital Corporation ("Jovian"), a publicly-traded company listed on the
Toronto Stock Exchange (TSX symbol - "JOV"). Jovian is a management and
holding company with interests in a variety of financial service firms
specializing in wealth and asset management. The Jovian group of companies is
a national financial services organization with approximately $12.0 billion of
client assets ($5.0 billion in assets under management and $7.0 billion in
assets under administration).

For further information:

For further information: Howard Atkinson, President, AlphaPro Management
at (416) 777-5167 or 1-866-641-5739 or visit www.HAPETFs.com

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Horizons AlphaPro Gartman Fund

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AlphaPro Management Inc.

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