ALPS, a DST company providing products and services to the financial services industry, and RiverNorth Capital Management today announced that they successfully launched a new closed-end fund, RiverNorth Opportunities Fund, Inc. (the “Fund”), which priced its initial public offering and began trading on the New York Stock Exchange on December 24, 2015 under the symbol “RIV.”

ALPS serves as the investment adviser and RiverNorth serves as subadviser of the Fund. The Fund raised approximately $72.6 million in its common stock offering, excluding any exercise of the underwriters’ option to purchase additional shares of common stock. If the underwriters exercise that option in full, which may or may not occur, the Fund will have raised approximately $83.5 million. RiverNorth and its affiliates and employees purchased approximately $10 million in shares of the Fund in the offering.

“RiverNorth is extremely excited to have launched the RiverNorth Opportunities Fund. The closed-end fund structure offers RiverNorth's portfolio management team an advantage relative to other fund structures in implementing its opportunistic closed-end investment strategy,” said Patrick Galley, Chief Investment Officer of RiverNorth Capital Management LLC.

The Fund is a diversified, closed-end management investment company. The Fund’s investment objective is total return consisting of capital appreciation and current income. The Fund seeks to achieve its investment objective by pursuing a tactical asset allocation strategy and opportunistically investing under normal circumstances in closed-end funds and exchange-traded funds.

The lead managing underwriter of the offering was Wells Fargo Securities, LLC.

For more information on the RiverNorth Opportunities Fund, visit www.rivernorthcef.com or call 1.855.830.1222.

IMPORTANT DISCLOSURES

The Fund has no operating history. An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle.

Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. The prospectus should be read carefully before investing. For more information, please read the prospectus, call your financial professional or call 1-855-830-1222.

The Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.

Shares of closed-end investment companies frequently trade at a discount from their net asset value and initial offering prices. The risk of loss due to this discount may be greater for initial investors expecting to sell their shares in a relatively short period after completion of the public offering.

Important Information and Risk Factors

Risk is inherent in all investing. Investing in any investment company security involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Therefore, before investing in the common shares of the Fund, you should consider the risks as well as the other information in the prospectus.

About ALPS

Through its subsidiary companies, ALPS Holdings, Inc. is a leading provider of innovative investment products and customized servicing solutions to the financial services industry. Founded in 1985, Denver‐based ALPS delivers its asset management and asset servicing solutions through offices in Boston, New York, Seattle, and Toronto. ALPS is a wholly owned subsidiary of Kansas City‐based DST Systems, Inc. For more information about ALPS and its services, visit www.alpsinc.com. Information about ALPS’ products is available at www.alpsfunds.com.

About DST

DST Systems, Inc. is a leading provider of sophisticated information processing and servicing solutions to companies around the world. Through its global enterprise, DST delivers strategically unified transactions and business processing, data management, and customer communications solutions to the asset management, brokerage, retirement, and healthcare markets. Headquartered in Kansas City, MO., DST is a publicly-traded company on the New York Stock Exchange. For more information, visit www.dstsystems.com.

About RiverNorth Capital Management, LLC

RiverNorth is a Chicago-based investment management firm founded in 2000 that specializes in opportunistic investment strategies. The firm focuses on strategies in niche markets where it believes the potential to exploit inefficiencies is greatest. RiverNorth has over $3.1 billion in assets under management.