Canoe Financial Announces Completion of EnerVest Energy and Oil Sands Total Return Trust Merger

CALGARY, ALBERTA--(Marketwired - Nov. 19, 2013) -

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

Canoe Financial LP (the "Manager") today announced that the merger of EnerVest Energy and Oil Sands Total Return Trust (the "Fund") (TSX:EOS.UN) into Canoe Energy Income Class (the "Continuing Fund"), an open-ended mutual fund managed by Canoe Financial LP, became effective on November 19, 2013.

Pursuant to the merger, on or about November 20, 2013, each unitholder of the Fund will receive 0.76 Series A shares (using an exchange ratio of 0.758642:1) of the Continuing Fund in exchange for each unit of the Fund. The exchange ratio was determined with reference to the net asset value for each of the Fund and the Continuing Fund as at the close of business on November 18, 2013. The net asset value per Series A share of the Continuing Fund as of November 18, 2013 was $12.89.

As a result of the merger, the Fund was de-listed from the Toronto Stock Exchange as at the close of business on November 14, 2013.

Important merger information for non-residents: unitholder accounts which are deemed to be non-resident of Canada may not be allowed to hold shares of the Continuing Fund following the merger where the holding of such shares could be detrimental to the Continuing Fund and accordingly may be redeemed immediately prior to or shortly after the merger is completed.

About Canoe Energy Income Class

Canoe Energy Income Class is an open end natural resource mutual fund managed by Rafi G. Tahmazian, Senior Portfolio Manager at Canoe Financial. Canoe Energy Income Class seeks to provide dividend income and long- term capital growth by investing in energy equity and fixed income securities. Additional information about Canoe Energy Income Class can be found on our website, www.canoefinancial.com.

About Canoe Financial LP

Canoe Financial is the Portfolio Manager and Manager of the Fund. 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 is one of Canada's fastest-growing mutual fund companies and as at October 31, 2013, manages approximately $1.9 billion in assets through its investment products. To learn more about Canoe Financial, visit www.canoefinancial.com.

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. 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, the receipt of regulatory approval for the merger, 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.

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.