Mr. Aaron Sobeski reports

BMO LAUNCHES ITS FIRST DEDICATED AUTOCALLABLE ETF

BMO Asset Management Inc., the manager of the BMO ETFs, has launched BMO Strategic Autocallable Income U.S. Large Cap ETF, offering Canadian-dollar units (Toronto Stock Exchange: ZACU), hedged units (TSX: ZACU.F) and U.S.-dollar units (TSX: ZACU.U). Collectively, the units of each series of the BMO ETF are referred to as the units.

The BMO ETF has closed its initial offering of units and is listed and trading on the Toronto Stock Exchange.

Investment objectives

BMO Strategic seeks to provide investors with the opportunity for regular income distributions by primarily investing in an actively managed portfolio of single-stock autocallable derivatives linked to the performance of large capitalization U.S. equity issuers. The BMO ETF will seek to replicate, to the extent possible, the outcome of an actively managed portfolio of diversified autocallable structured notes that each reference equity U.S. listed securities, net of fees and expenses.

BMO Strategic is an alternative mutual fund for securities law purposes. As an alternative mutual fund, BMO Strategic has the ability to invest in asset classes and use investment strategies that are not permitted for conventional mutual funds, including the ability to invest in other alternative mutual funds, borrow cash to use for investment purposes, short sell beyond the limits prescribed for conventional mutual funds, and generally employ leverage. While these strategies will be used in accordance with BMO Strategic's investment objectives and strategies, during certain market conditions, they may accelerate the pace at which an investor's investment decreases in value. BMO Strategic is subject to restrictions and practices contained in Canadian securities legislation applicable to alternative mutual funds, including National Instrument 81-102, and is managed in accordance with these restrictions, except as otherwise permitted by exemptions provided by Canadian securities regulatory authorities.