JFT Strategies Fund Closes Initial Public Offering

JFT Strategies Fund (the "Fund") (TSX:JFS.UN) is pleased to announce the closing
of its initial public offering. The Fund raised gross proceeds of approximately
$120 million pursuant to the offering of Class A Units and Class F Units (the
"Units"). The Class A Units of the Fund are listed on the Toronto Stock Exchange
under the symbol of JFS.UN.  


The Fund's investment objective is to maximize return on investment to holders
of Units while seeking to mitigate market risk and volatility by investing in an
actively managed portfolio (the "Portfolio") of long and short positions in any
one or a combination of equities, debt securities or other securities.  


The Portfolio will be managed by Timelo Investment Management Inc. Mr.
Jean-Francois (JF) Tardif will be the lead portfolio manager responsible for the
Portfolio. First Asset Investment Management Inc. is the investment manager of
the Fund. First Asset is a Canadian wealth management company that manages and
administers approximately $2.6 billion in assets. 


The syndicate of agents for this offering was led by CIBC, co-led by National
Bank Financial Inc., RBC Capital Markets and TD Securities Inc., and included
Scotiabank, Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd.,
DesJardins Securities Inc., Dundee Securities Ltd. and Macquarie Private Wealth
Inc. 


The Fund has granted the agents for the offering an over-allotment option to
acquire additional Class A Units on the same terms exercisable at any time
during the next thirty days. 


For further information, please visit www.firstasset.com.