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Harvest Portfolios Group Inc. Announces Completion of ETF Conversion and Initial Listing of US Dollar Class of Tech Achievers Growth & Income ETF

/EINPresswire.com/ -- OAKVILLE, ONTARIO--(Marketwired - Jun 22, 2017) - Tech Achievers Growth & Income Fund (TSX:HTA.UN) (the "Fund") announces that, pursuant to a final prospectus dated June 14, 2017 filed with the securities regulatory authorities in all of the Canadian provinces and territories in connection with the conversion of the Fund from a closed-end fund to an exchange traded fund, the Fund has completed its conversion of Class A Units of the Fund into Class A Units of an exchange-traded fund and will commence trading on the Toronto Stock Exchange ("TSX") today under the following ticker symbol: HTA:TSX.

The Fund is also pleased to announce the completion of the initial offering of Class U Units of the Tech Achievers Growth & Income ETF, and that the Class U Units will commence trading on the TSX today under the following ticker symbol: HTA.U:TSX. The Class U Units are denominated in U.S. dollars. The value of the portfolio attributable to the Class U Units will not be hedged.

Prior to the conversion, the Fund was a closed-end fund. As previously announced by Harvest Portfolios Group Inc., the manager of the Fund ("Harvest"), the conversion was approved at an adjourned special meeting of unitholders on April 28, 2017, as more particularly described in the management information circular dated March 17, 2017. Harvest believes that the conversion will benefit existing unitholders of the Fund because, as an exchange-traded fund, the Fund will offer greater market liquidity and efficient trading as well as participation in potential benefits from economies of scale through the continuous offering of units.

Tech Achievers Growth & Income ETF's investment objective is to provide Unitholders with (i) the opportunity for capital appreciation; (ii) monthly cash distributions; and (iii) lower overall volatility of the portfolio returns than would otherwise be experienced by owning Equity Securities of Technology Achievers directly. To achieve lower overall volatility of portfolio returns, the Tech Achievers Growth & Income ETF will generally write covered call options on up to 33% of the portfolio securities. The level of covered call option writing may vary based on market volatility and other factors.

You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the TSX. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in these documents.

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