Canoe Completes O'Leary Asset Acquisition

CALGARY, ALBERTA--(Marketwired - Feb. 17, 2016) - Canoe Financial (Canoe) today announced completion of its acquisition of the O'Leary Funds management contracts and related assets. The acquisition continues Canoe's trajectory as the fastest-growing independent mutual fund company in Canada.

"In addition to Canoe's impressive organic growth since launching its first mutual funds in 2011, this transaction will result in an enhanced offering of investment solutions to serve both investment advisors and their clients," said Canoe chairman W. Brett Wilson. "Success in this business is driven by the quality of our people, and we are particularly excited about bringing Canoe's award-winning investment management expertise to even more Canadian investors."

"We have never wavered from our vision to be a leading high-quality, independent asset manager and a first choice for Canadian investors with asset management needs," said Darcy Hulston, president & chief executive officer, Canoe Financial. "With this strategic acquisition, we have added to our sales team, expanded our distribution channels and enhanced the depth and breadth of our investment solutions at Canoe."

Stanton Asset Management Inc. will continue as sub-advisor for Canoe Canadian Corporate Bond Fund (formerly O'Leary Canadian Bond Yield Fund), and Aegon USA Investment Management, LLC (AUIM) has been appointed sub-advisor for Canoe Floating Rate Income Fund (formerly O'Leary Floating Rate Income Fund), Floating Rate Income Fund and Canoe Floating Rate Portfolio Trust (formerly O'Leary Floating Rate Portfolio Trust). AUIM also continues to act as sub-advisor for Canoe Global Income Class/Fund and Canoe Strategic High Yield Class/Fund.

Canoe will no longer be re-designating Series A (USD) and Series F (USD) units of Canoe Floating Rate Income Fund (formerly O'Leary Floating Rate Income Fund), Canoe Tactical Income Fund (formerly O'Leary Tactical Income Fund) and Canoe U.S. Strategic Yield Fund (formerly O'Leary U.S. Strategic Yield Fund) (the "USD Series"), as set out in the management information circular sent to O'Leary investors on December 18, 2 015. Investors in Canoe Tactical Income Fund and Canoe U.S. Strategic Yield Fund will continue to be able to purchase units of the USD Series until such funds are merged into an existing Canoe mutual fund. Series A (USD), and Series F (USD) units of Canoe Floating Rate Income Fund will be unavailable for purchase by new investors or for subsequent purchase by existing investors shortly following the closing. However, on that date, Canoe will be introducing a US dollar purchase option for this fund, so that investors in a USD Series of Canoe Floating Rate Income Fund will continue to be able to purchase and redeem units of the fund in US dollars.

In addition, effective immediately, Series H, Series H (hedged), Series H (USD), Series FH and Series FH (hedged) units of each of the former O'Leary funds will not be available for purchase by new investors or for subsequent purchase by existing investors. Series A and Series F units of Canoe Global Balanced Fund (formerly O'Leary Global Infrastructure Income Fund) will not be available for purchase by new in vestors or for subsequent purchase by existing investors effective on or about February 18, 2016. The hedged Series A and Series F remain available for purchase.

All other material changes to the former O'Leary funds, as previously announced by O'Leary Funds Management LP in the management information circular dated December 18, 2015 and in Amendment No. 1 to the Simplified Prospectus of the O'Leary Funds dated November 27, 2015, will take effect as described therein.

About Canoe Financial

Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe is Canada's fastest-growing independent mutual fund company and currently manages more than $3.3 billion in assets across a diversified range of award-winning mutual funds and private energy equity products. Canoe 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.

Important information regarding the Canoe mutual funds, including conditions of purchase, investment strategy, distribution policy, management fees, and expenses, are set out in the funds' Simplified Prospectus, Annual Information Form and Fund Facts which are available on Canoe Financial's website at www.canoefinancial.com or SEDAR at www.sedar.com. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed and their values change frequently. This communication is for information purposes only and is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Investors should consult with a financial advisor prior to making any investment decisions.