Matrix Announces the Withdrawal of the Final Prospectus for the Matrix 2013 Short Duration National and Quebec Flow Through LP

TORONTO, ONTARIO--(Marketwired - April 23, 2013) - Growth Works Capital Ltd. (through its operating division, Matrix Funds Management) ("Matrix") today announced the withdrawal of the final prospectus for the initial public offering of units of Matrix 2013 Short Duration National and Québec Flow Through LP previously filed on April 17, 2013.

Growth Works Capital Ltd., a subsidiary company of Matrix Asset Management Inc. (TSX:MTA), is currently addressing a recent non-market related matter referenced on Friday April 19, 2013 by press release. With management's efforts directed towards the successful resolution of such matter, the decision to withdraw the current Matrix 2013 Short Duration National and Québec Flow Through LP has been made.

Matrix will review future market conditions to assess the best time to engage the market with another Flow Through LP offering for 2013.

The syndicate for the offering was being co-led by National Bank Financial Inc., CIBC and Desjardins Securities Inc. with other syndicate members including BMO Nesbitt Burns Inc., TD Securities Inc., Industrial Alliance Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Argosy Securities Inc., Burgeonvest Bick Securities Limited, Dundee Securities Ltd., Laurentian Bank Securities Inc., Mackie Research Capital Corporation, Macquarie Private Wealth Inc. and Raymond James Ltd. (the "Agents).

Matrix and the Flow Through LP are represented by Blake, Cassels & Graydon LLP and the Agents are represented by McCarthy Tétrault LLP.

About Growth Works Capital Ltd.

Growth Works Capital Ltd. (through its operating division, Matrix Funds Management) is the manager of the Matrix Funds and is a subsidiary of Matrix Asset Management Inc. (TSX:MTA). Matrix provides diversified asset and wealth management for both individuals and institutional investors. Please visit www.matrixfunds.ca for more information.