Canoe EIT Income Fund Warrants Expire November 14, 2014

CALGARY, ALBERTA--(Marketwired - Nov. 5, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Canoe EIT Income Fund (the "Fund") (TSX:EIT.UN) reminds Warrantholders that they have until November 14, 2014 to exercise any outstanding Warrants.

Four Warrants of the Fund entitles the holder to purchase one Unit of the Fund at a subscription price of $12.40 and can be exercised at any time on or before 5:00 p.m. (Calgary time) on November 14, 2014 (the "Expiry Date"). Dealers may impose earlier deadlines for exercise. Warrants not exercised by the Expiry Date will automatically expire and be void and of no value. Including all Warrants exercised to date, the Fund's net asset value as at November 4, 2014 was $14.46. The Fund's current cash yield is 9.7%*.

Pursuant to the Additional Subscription Privilege, each Unitholder who subscribes for units by exercising their warrants can also request to subscribe for additional units at the exercise price of $12.40 per unit. The number of additional units available for all additional subscriptions will be the difference, if any, between the total number of units issuable upon exercise of the warrants and the total number of units subscribed and paid for prior to 5:00 p.m. (Calgary time) on the Expiry Date. To apply for additional units, Unitholders should notify their investment advisor or brokerage firm.

Proceeds from the exercise of the Warrants will provide the Fund with additional capital, allowing the Fund to take advantage of attractive investment opportunities, and is also expected to increase trading liquidity of the Units and reduce the management expense ratio of the Fund, as well as ensure the sustainability of the Fund.

As at September 31, 2014, the Fund's net asset value generated total returns (net of fees) of 23.8%, 11.4%, 11.3% and 8.3% respectively for the 1, 3, 5 and 10-year time periods.

Full details about this Offering are available on our website at www.canoefinancial.com, or you can contact us at 1-877-434-2796.

About the Fund

The Fund is one of Canada's largest, diversified closed-end investment funds and is listed on the TSX under the symbol EIT.UN. The Fund is actively managed and invests in a diversified portfolio of income-generating and capital growth-oriented securities listed primarily on the TSX. The Fund is designed to maximize distributions and net asset value for the benefit of its unitholders. The Fund is managed by Robert Taylor, Senior Vice President and Portfolio Manager of Canoe Financial.

About Canoe Financial LP

Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its 'GO CANADA!^®' investment thesis reflects Canoe's strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada's sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.

Canoe Financial is one of Canada's fastest-growing mutual fund companies and as at September 30, 2014, manages approximately $2.8 billion in assets through its investment products. To learn more about Canoe Financial, visit www.canoefinancial.com.

^® GO CANADA! is a registered trade-mark of Canoe Financial LP.

Forward Looking Statement: Certain statements included in this news release constitute forward looking statements which reflect Canoe Financial's current expectations regarding future results or events. Words such as "may," "will," "should," "could," "anticipate," "believe," "expect," "intend," "plan," "potential," "continue" and similar expressions have been used to identify these forward-looking statements. In addition, any statement regarding future performance, strategies, prospects, action or plans is also a forward-looking statement. Market predictions and forward-looking statements are subject to known and unknown risks and uncertainties and other factors that may cause actual results, performance, events, activity and achievements to differ materially from those expressed or implied by such statements. Forward-looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.

The Fund makes monthly distributions of an amount comprised in whole or in part of Return of Capital (ROC) of the net asset value per unit. A ROC reduces the amount of your original investment and may result in the return to you of the entire amount of your original investment. ROC that is not reinvested will reduce the net asset value of the fund, which could reduce the fund's ability to generate future income. You should not draw any conclusions about the fund's investment performance from the amount of this distribution.

*For Canoe EIT Income Fund (EIT.UN), "current cash yield" means the annual cash distribution for the Fund (currently $1.20 per unit) divided by its market price. Annual cash distributions may be made up in whole or in part by interest, dividends or return of capital. You should not draw any conclusions about the Fund's investment performance from the amount or percentage of this distribution. Approximately seventy percent of total distributions are reinvested in the Fund. Commissions, trailing commissions, management fees and expenses may all be associated with investment funds. Please read the Fund's prospectus or the information filed about the Fund on www.sedar.com before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.