Northern Rivers announces unitholder approval of proposed changes to its mutual funds

    TORONTO, April 7 /CNW/ - In its capacity as Manager of the Northern
Rivers Funds, Northern Rivers Capital Management Inc. ("Northern Rivers") is
pleased to announce that it has received all necessary unitholder approvals in
connection with the merger of the Northern Rivers Evolution Fund into the
Northern Rivers Conservative Growth Fund and a change in Manager of the
Northern Rivers Monthly Income and Capital Appreciation Fund ("Monthly Income
Fund") and the Northern Rivers Monthly Income and Capital Appreciation Trust
Pool ("Monthly Income Pool") to Mavrix Fund Management Inc. ("Mavrix").
    The merger and the change in manager were approved by unitholders at
special meetings held on April 7, 2009. Northern Rivers is of the opinion that
these changes are in the best interest of the unitholders who will likely
benefit from economies of scale. The Investment Manager of the Monthly Income
Fund and the Monthly Income Pool, Cassels Investment Management Inc., will not
    Subject to receipt of all regulatory approvals, it is expected that these
changes will be effective on or about April 30, 2009.

For further information:

For further information: Robyn Graham, Vice President, Sales &
Marketing, Northern Rivers Capital Management Inc., Phone: (416) 597-1226 ext.
1, or 1-866-902-7060 ext. 1

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