Canoe EIT Income Fund Suspends Premium Distribution™ and Distribution Reinvestment Components of its DRIP

Calgary, Alberta, CANADA

CALGARY, Alberta, March 08, 2019 (GLOBE NEWSWIRE) -- Canoe EIT Income Fund (“Canoe” or the “Fund”) (TSX: EIT.UN) announces today that it has determined to suspend the Premium Distribution™ component and Distribution Reinvestment component of its Premium Distribution™, Distribution Reinvestment and Optional Cash Purchase Plan (the “DRIP”) commencing with the distributions payable April 2019. As a result, unitholders enrolled in the Premium Distribution™ and Distribution Reinvestment components of the DRIP will receive their original distribution amount in cash effective with the distributions to be paid on April 15, 2019 to unitholders of record on March 22, 2019.  The Optional Cash Purchase component of the DRIP shall remain in effect.

If the Fund elects to reinstate the Premium Distribution™ and Distribution Reinvestment components of the DRIP, unitholders enrolled in such components at reinstatement will automatically resume participation in the Premium Distribution™ and Distribution Reinvestment components of the DRIP. 

For further information on the Fund’s DRIP, including a complete copy of the DRIP, please contact our Investor Relations Department.

About Canoe EIT Income Fund

One of Canada’s largest closed-end investment funds, designed to maximize monthly distributions and capital appreciation by investing in a broadly diversified portfolio of high quality securities. The Fund is listed on the TSX under the symbol EIT.UN, EIT.PR.A and EIT.PR.B and is actively managed by Robert Taylor, Senior Vice President and Portfolio Manager of Canoe Financial.

About Canoe Financial LP

Canoe Financial LP, the manager of the Fund, is one of Canada’s fastest growing independent mutual fund companies managing $5.5 billion in assets across a diversified range of award-winning mutual funds and private energy equity products. Founded in 2008, Canoe Financial LP is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe has offices in Calgary, Toronto, Vancouver, Winnipeg, and Montreal.

For further information, please contact
Investor Relations
Canoe Financial LP

Forward Looking Statements

Certain statements included in this news release constitute forward looking statements which reflect Canoe Financial LP’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 LP 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.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the information filed about the Fund on before investing. Investment funds are not guaranteed 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.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.