Formula Growth Limited Announces the Termination of Formula Growth Mutual Fund

MONTREAL, QUEBEC--(Marketwired - Jan. 19, 2016) - Formula Growth Limited ("Formula Growth"), the manager of Formula Growth Mutual Fund (the "FGMF") today announced that it will terminate the FGMF on or about March 29^th, 2016 (such date, the "Termination Date").

After considering the FGMF's relatively small asset size, the small number of existing unitholders (the "Unitholders"), the limited demand from new investors, and the regulatory burden of continuing the FGMF, Formula Growth has determined that it is in the best interests of Unitholders to terminate the FGMF.

As of the most recent valuation date, January 12^th, 2016, the FGMF was able to deliver to investors an +8.5% Canadian dollar return since inception (January 7^th, 2015) after fees and inclusive of the change in exchange rates, through a very difficult and turbulent period for U.S. stock markets. In U.S. dollar terms, the FGMF declined 10.1% over the same period of time. This compares to a decline of 11.2% for the Russell 2000 Small-cap Index.

The FGMF is now closed to new purchases and Formula Growth will not be renewing the FGMF's existing simplified prospectus. Unitholders will continue to have the right to redeem their units of the FGMF at each weekly valuation date prior to the Termination Date, at which time, after having discharged the FGMF's liabilities, Formula Growth will distribute the net assets of the FGMF to Unitholders. Unitholders representing over 50% of the FGMF's outstanding units have agreed with Formula Growth not to redeem their units prior to the Termination Date, allowing the Manager to actively manage the holdings of the FGMF, and enabling an orderly wind down of the FGMF by the Termination Date. Notwithstanding the foregoing, following the giving of notice of the Termination to Unitholders, the Manager may begin liquidating the portfolio investments and the FGMF may no longer be invested in accordance with the stated investment objectives outlined in the FGMF's Simplified Prospectus.

Pursuant to applicable securities regulations and the FGMF's constating documents, Formula Growth is required to provide Unitholders with 60 days' written notice of the FGMF's termination. Formula Growth anticipates sending such notice to Unitholders by ordinary pre-paid mail on or before January 26^th, 2016.

Formula Growth is committed to sustaining a strong and efficient product offering that serves the needs of our investors and includes several investment fund products and strategies. Unitholders resident in Quebec, Ontario, British Columbia or Alberta that qualify as "Accredited Investors" are encouraged to contact Formula Growth to discuss investing their proceeds from the termination of the FGMF in another Formula Growth product.

For more information or details on individual account status, Unitholders may contact Mathieu Boisvert or Randall Kelly at Formula Growth at 1-844-FGFUNDS (1-844-343-8637) or info@formulagrowth.ca.

About Formula Growth Limited

Formula Growth Limited is one of Canada's oldest and most renowned investment firms with a track record spanning over 55 years. Its original mutual fund, the Formula Growth Fund, was founded in 1960 and was recently the subject of a book entitled Up and to the Right by Mr. Craig Toomey. The book, published by the McGill-Queen's University Press, details how the Formula Growth Fund and its founder, the late John W. Dobson, and other original investors invested $10,000 each. Today, that same $10,000 is worth more than $8,000,000. Since its inception in June 1960, the Formula Growth Fund has compounded returns after fees at US$ 12.1% versus 10.0% for the S&P500 total return.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Formula Growth undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.