Canoe Financial Refines its Product Shelf

CALGARY, ALBERTA--(Marketwired - June 12, 2017) -

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

Canoe Financial LP ("Canoe" or the "Manager") proposes the merger of five Canoe Funds, which is subject to the receipt of all required regulatory and securityholder approvals.

The proposed mergers are a result of an ongoing product review. "These proposed mergers are intended to scale certain funds with like investment strategies and offer a better potential for investors to seek cost savings. All proposed mergers will reflect our core investment capabilities and further simplify our product shelf," said Darcy Hulston, President and Chief Executive Officer.

The Mergers

Details about the changes will be contained in meeting materials to be mailed to securityholders of record as of July 5, 2017.

The below table outlines the proposed funds to be merged into their corresponding continuing funds on or about August 18, 2017.

Terminating Funds	Continuing Funds
Canoe Equity Income Class	Canoe Canadian Asset Allocation Class
Canoe Canadian Monthly Income Class	Canoe North American Monthly Income Class
Canoe Global Balanced Fund	Canoe North American Monthly Income Class
EnerVest Natural Resource Fund Ltd	Canoe Energy Class
Canoe Global Opportunities Class	Canoe Global Equity Income Class

Approval from securityholders of the Terminating Funds and from each of the Continuing Funds other than Canoe Energy Class will be sought at special meetings to be held on or about August 16, 2017.

To facilitate certain mergers, Canoe intends to create new series for certain Continuing Funds. These series will only be available for purchase by existing investors of the Terminating Funds who merge into the new series.

If the proposed mergers are approved, securityholders of each series of each Terminating Fund will receive securities of a series of the corresponding Continuing Fund that have a management fee which is the same as, or lower than, the management fee on their existing series, determined on a dollar-for-dollar basis. If the proposed mergers are approved, purchases, switches and redemptions of securities of the Terminating Funds will be suspended after the close of business on August 17, 2017. The Terminating Funds will be wound up as soon as possible following the mergers.

The Independent Review Committee of the funds has reviewed the potential conflict of interest matters related to the proposed mergers and has provided the Manager with a positive recommendation for each merger after determining that each merger, if implemented, achieves a fair and reasonable result for the applicable funds.

About Canoe Financial

Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial is one of Canada's fastest-growing independent mutual fund companies and currently manages approximately $4.3 billion in assets across a diversified range of award - winning mutual funds and private energy equity products. Canoe Financial has expanded from its Calgary head office across Canada, including a significant presence in Toronto and offices in Vancouver, Winnipeg, Ottawa and Montreal. To learn more about Canoe Financial and its investment products, visit www.canoefinancial.com.

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.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the information filed about the fund on www.sedar.com before investing. Investment funds are not guaranteed and past performance may not be repeated.