An anonymous director reports

PROPEL CAPITAL CORPORATION - DISTRIBUTIONS PRESS RELEASE

Propel Capital Corp. has declared distributions for the Canadian Convertibles Plus Fund, Canadian High Yield Focus Fund, Strategic Income Allocation Fund, North American REIT Income Fund, North American Preferred Share Fund and Senior Secured Floating Rate Loan Fund.

Quarterly distributions

For the quarter ending Sept. 30, 2014, the Canadian Convertibles Plus Fund and Canadian High Yield Focus Fund will make distributions as set out in an attached table.

Fund                                TSX  Distribution amount 
                                 symbol            (per unit)     Record date   Payment date

Canadian Convertibles Plus Fund  CCI.UN             $0.15625   Sept. 30, 2014  Oct. 15, 2014
Canadian High Yield Focus Fund   CAH.UN             $0.19500   Sept. 30, 2014  Oct. 15, 2014

Monthly distributions

For months ending September, October and November, 2014, the Strategic Income Allocation Fund, North American REIT Income Fund, North American Preferred Share Fund and Senior Secured Floating Rate Loan Fund will make distributions as set out in an attached table.

Fund                                                     TSX  Distribution amount 
                                                      symbol            (per unit)         Record date   Payment date

Strategic Income Allocation Fund                      SIF.UN             $0.05417       Sept. 30, 2014  Oct. 15, 2014 
Strategic Income Allocation Fund                      SIF.UN             $0.05417        Oct. 31, 2014  Nov. 14, 2014
Strategic Income Allocation Fund                      SIF.UN             $0.05417        Nov. 28, 2014  Dec. 15, 2014
North American REIT Income Fund                       NRF.UN             $0.05000       Sept. 30, 2014  Oct. 15, 2014 
North American REIT Income Fund                       NRF.UN             $0.05000        Oct. 31, 2014  Nov. 14, 2014
North American REIT Income Fund                       NRF.UN             $0.05000        Nov. 28, 2014  Dec. 15, 2014
North American Preferred Share Fund                   NPF.UN             $0.11460       Sept. 30, 2014  Oct. 15, 2014 
North American Preferred Share Fund                   NPF.UN             $0.11460        Oct. 31, 2014  Nov. 14, 2014
North American Preferred Share Fund                   NPF.UN             $0.11460        Nov. 28, 2014  Dec. 15, 2014
Senior Secured Floating Rate Loan Fund (Class A)      FRL.UN            $0.054167       Sept. 30, 2014  Oct. 15, 2014 
Senior Secured Floating Rate Loan Fund (Class A)      FRL.UN            $0.054167        Oct. 31, 2014  Nov. 14, 2014
Senior Secured Floating Rate Loan Fund (Class A)      FRL.UN            $0.054167        Nov. 28, 2014  Dec. 15, 2014
Senior Secured Floating Rate Loan Fund (Class U)  Not listed      $0.054167 (U.S.)      Sept. 30, 2014  Oct. 15, 2014 
Senior Secured Floating Rate Loan Fund (Class U)  Not listed      $0.054167 (U.S.)       Oct. 31, 2014  Nov. 14, 2014
Senior Secured Floating Rate Loan Fund (Class U)  Not listed      $0.054167 (U.S.)       Nov. 28, 2014  Dec. 15, 2014