EnerVest 2011 Flow-Through LP

May 02, 2011 08:00 ET

Canoe Announces Completion of Second Closing for the EnerVest 2011 Flow-Through LP

CALGARY, ALBERTA--(Marketwire - May 2, 2011) -

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

Canoe Financial LP (the "Manager" or "Canoe"), is pleased to announce that the second closing of the public offering of limited partnership units ("Units") of the EnerVest 2011 Flow-Through LP (the "Partnership") was completed on April 29, 2011. The Partnership issued 77,915 Units at $25.00 per Unit for gross proceeds of approximately $1.9 million. A third closing for this Offering is expected to occur on or about May 18, 2011. This Offering is available in each of the provinces of Canada, except Quebec.

The Partnership's investment objective is to provide Limited Partners with exposure to quality, tax-advantaged energy investments within two separate portfolios, consisting primarily of (i) Canadian Exploration Expense ("CEE") Flow-Through Shares of Resource Companies (the "Class CEE Portfolio"); or (ii) Canadian Development Expense ("CDE") Flow-Through Shares of Resource Companies (the "Class CDE Portfolio", and together with the Class CEE Portfolio, the "Investment Portfolios"). The Partnership provides the choice of investing in either the Class CEE Portfolio or the Class CDE Portfolio or a combination of both, allowing investors to tailor their investment to their specific investment requirements.

The Investment Portfolios will be managed by Canoe Financial LP, a Calgary-based investment management firm with approximately $1.8 billion in assets under management. Canoe's investment personnel have extensive experience investing in and operating oil and natural gas companies as well as financing and structuring energy-related transactions.

The offering is being conducted by a syndicate of Agents co-led by CIBC and RBC Capital Markets and includes BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities LP, HSBC Securities (Canada) Inc., Macquarie Private Wealth Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated.

A final prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in all of the provinces of Canada, except Quebec. Copies of the final prospectus may be obtained from any of the Agents listed above or on SEDAR at www.sedar.com. Investors should read the prospectus before making an investment decision. These Units are not offered for sale to residents of the United States.

About Canoe Financial

Canoe Financial is an experienced and innovative investment management firm focused on building financial wealth for Canadians. Canoe currently manages approximately $1.8 billion in assets through its mutual fund and closed-end products. Canoe is a strong believer in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources and our sound fiscal structure, we believe Canada provides long-term growth potential for investors.

Canoe Financial is committed to providing exceptional client service and is a proud partner of Canada's Investment Advisor and Financial Planner network. To learn more about Canoe visit our website at www.canoefinancial.com.

Forward Looking Statement: Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect Canoe Financial LP's and its affiliates' ("Canoe") current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Canoe believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Canoe undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Investors should contact their Investment Advisor to review their investment objectives and strategies. This information is for review purposes only, and investors should consult their Investment Advisor for complete details and risk factors on specific strategies and various investment products.

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