Harvest Announces Closed End Fund Name Change

OAKVILLE, ONTARIO--(Marketwired - June 22, 2016) - Harvest Portfolios Group Inc., on behalf of the Global Telecom & Utilities Income Fund, (TSX:HGI.UN), (the "Fund") is pleased to announce that, effective today, the Fund changed its name from Global Advantaged Telecom & Utilities Income Fund, (TSX: HGI.UN) to Global Telecom & Utilities Income Fund, (TSX:HGI.UN). The trading symbol for the Fund's listed units on the Toronto Stock Exchange (the "TSX") will not change. An application has been submitted to the TSX for the listed units of the Fund to trade under the new name.

The amended name of the Fund more accurately reflects the mandate of the Fund following the elimination of favourable treatment of character conversion transactions in the Income Tax Act. No changes have been made to the investment objective, strategies or management of the Fund.

The Fund has been established to provide Unitholders with exposure to an actively managed portfolio comprised primarily of equity securities of global telecom issuers and global utilities issuers. The Fund's investment objectives are to provide Unitholders with (i) monthly distributions; and (ii) capital appreciation.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect the Fund's, Harvest Portfolios Group Inc. ("Harvest"), the manager of the Fund and/or investment manager's 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, including, but not limited to, market factors. Although the Fund, Harvest, the manager of the Fund and/or investment managers believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest, the manager of the Fund and/or investment manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.