Canoe EIT Income Fund Announces 2015 Annual Redemption Results

CALGARY, ALBERTA--(Marketwired - Nov. 23, 2015) -

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

Canoe EIT Income Fund ("Canoe" or the "Fund") (TSX:EIT.UN) announces the results of the 2015 voluntary cash redemption.

Requests for redemption of approximately 45.7 million units of the Fund, representing approximately 46.5% of the current issued and outstanding units, have been submitted by unitholders. The Fund's Declaration of Trust limits the annual redemption to 10% of the issued and outstanding units on the final day on which to submit units for redemption, which was November 19, 2015 this year. Accordingly, redemption requests will be prorated to approximately 21.5% of units tendered, subject to rounding. Any units not accepted for redemption will be returned to redeeming unitholders as soon as practicable.

Payment of the redemption proceeds will be made on or before January 4, 2016 at a redemption price equal to 95% of the average net asset value based on the three business days preceding the redemption date of December 10, 2015, less direct costs.

Units that have been submitted for redemption will remain eligible for the November 2015 distribution which has a payment date of December 15, 2015.

About the Fund

The Fund is one of Canada's largest, diversified closed-end investment funds and is listed on the TSX under the symbol EIT.UN. The Fund is actively managed and invests in a diversified portfolio of income-generating and capital growth-oriented securities listed primarily on the TSX. The Fund is designed to maximize distributions and net asset value for the benefit of its unitholders. The Fund is managed by Robert Taylor, Senior Vice President and Portfolio Manager of Canoe Financial.

About Canoe Financial LP

Founded in 2008, Canoe Financial LP is an investment management firm focused on building financial wealth for Canadians. Canoe is Canada's fastest-growing independent mutual fund company and manages approximately $3 billion in assets across a diversified range of award-winning mutual funds, flow-through limited partnerships and private energy equity products. Canoe has expanded from its Calgary head office to across Canada, including a significant presence in Toronto and offices in Vancouver, Winnipeg and Ottawa. To learn more about Canoe Financial and its investment products, visit www.canoefinancial.com.

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 www.sedar.com before investing. The indicated rates of return are the historical and annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. 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.