TORONTO, ONTARIO--(Marketwired - July 20, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Global Alpha Worldwide Growth Fund (the "Fund") is pleased to announce that it has obtained a receipt for its final prospectus for the initial public offering (the "Offering") of the Fund's units (the "Units").

The Offering has a maximum size of $75,000,000 ($86,250,000 if the over-allotment option is exercised in full). The Units are being offered for $10.00 per Unit and BMO Nesbitt Burns Inc. (the "Manager"), the manager of the Fund, will pay all fees and expenses of the Offering. As a result, the net asset value per Unit immediately following the closing of the Offering will be $10.00. The Toronto Stock Exchange has conditionally approved the listing of the Units under the symbol "GAF.UN". Closing of the Offering is expected to occur on or about August 6, 2015.

The Fund's investment objective is to provide holders of Units ("Unitholders") with the opportunity for long-term capital appreciation through an actively managed, diversified portfolio (the "Portfolio") of equity securities of companies in the global small cap universe based primarily in developed market economies that have unrecognized and accelerating earnings growth potential. The Fund is intended to provide an opportunity for significant portfolio diversification for Canadian investors by focusing on attractive growth stocks in the global small cap universe in primarily developed market economies (U.S., Europe, Japan, etc.) and will limit exposure to Canadian securities.

For the remaining months in 2015 following the closing of the Offering, the Fund does not intend to pay regular distributions. However, after this period, the Manager, in consultation with Global Alpha Capital Management Ltd. (the "Portfolio Manager" or "Global Alpha"), the portfolio manager of the Fund, may determine on a quarterly basis to pay a cash distribution to Unitholders and/or purchase (in the open market or by invitation for tenders) Units for cancellation in order to enhance secondary market trading liquidity and return profits to Unitholders.

Global Alpha Capital Management Ltd., an affiliate of Connor, Clark & Lunn Financial Group Ltd. at its principal offices in Montréal, Québec, will be retained as the portfolio manager of the Fund. Global Alpha is an independent and privately owned investment management firm focused exclusively on global and international small cap portfolio management. The Portfolio Manager believes that any investment must be considered using a global perspective given the world acts as one opportunity set and economic unit. The Portfolio Manager's aim is to understand the thematic relevance to global investments and generate consistent returns over a long-term investment horizon, within a risk-controlled, low turnover approach. As of May 1, 2015, Connor, Clark & Lunn Financial Group Ltd. had approximately $60 billion of financial assets under management and Global Alpha had approximately $350 million of financial assets under management.

BMO Nesbitt Burns Inc. is the promoter of the Fund, one of the agents in connection with the Offering and will act as the manager of the Fund.

The syndicate of agents for the Offering is being co-led by BMO Capital Markets, CIBC, RBC Capital Markets and Scotiabank and includes National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Global Securities Corporation, Industrial Alliance Securities Inc., Laurentian Bank Securities Inc., Mackie Research Capital Corporation, Manulife Securities Incorporated and PI Financial Corp.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities of the Fund have not been registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to a U.S. person absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

This Offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any of the above-mentioned agents. Investors should read the prospectus before making an investment decision.

GLOBAL ALPHA WORLDWIDE GROWTH FUND