Mr. Raj Lala reports

EVOLVE LAUNCHES TWO NEW COVERED CALL ETFS FOCUSED ON CANADIAN FINANCIALS AND UTILITIES

The Evolve Canadian Financials Yield Fund and the Evolve Canadian Utilities Yield Fund have closed their initial offering of units and began trading on the Toronto Stock Exchange today under the ticker symbols CFIN and CUTE.

"BANK and UTES have surpassed $1.7-billion in combined assets under management, reflecting investor demand for income-focused exposure to Canada's financial and utility sectors," said Raj Lala, president and chief executive officer at Evolve. "CFIN and CUTE build on that success by giving investors access to the same proven covered call strategies without leverage."

Cash distributions on CFIN and CUTE are anticipated to be paid monthly. The first distributions for CFIN and CUTE are indicated in the table below.

Evolve Canadian Financials Yield Fund

CFIN seeks to provide exposure to an equal-weighted portfolio of Canadian banks and insurance companies while generating enhanced income through a covered call strategy. CFIN seeks to replicate, to the extent reasonably possible before fees and expenses, the performance of the Solactive Canadian Core Financials Equal Weight Index, or any successor thereto. To enhance yield and manage risk, CFIN will employ a covered call option writing program at the discretion of the manager. The level of covered call option writing may vary based on market volatility and other factors.

Evolve Canadian Utilities Yield Fund

CUTE seeks to provide exposure to an equal-weighted portfolio of primarily Canadian utility service companies while generating enhanced income through a covered call strategy. CUTE seeks to replicate, to the extent reasonably possible before fees and expenses, the performance of the Solactive Canada Utility Index, or any successor thereto. To enhance yield and manage risk, CUTE will employ a covered call option writing program at the discretion of the manager. The level of covered call option writing may vary based on market conditions.

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