Canoe EIT Income Fund Files Final Prospectus for Warrant Offering

CALGARY, ALBERTA--(Marketwired - May 15, 2014) -

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

Canoe EIT Income Fund (formerly EnerVest Diversified Income Trust) (the "Fund") (TSX:EIT.UN) announces that it has filed a final prospectus for an offering (the "Offering") of warrants (the "Warrants") to unitholders of the Fund. Each unitholder of record at the close of business on May 27, 2014 (the "Record Date") will be entitled to receive one Warrant for each whole unit of the Fund (a "Unit") held.

At any time prior to the expiry date of 5:00 p.m. (Calgary time) on November 14, 2014, four Warrants will entitle the holder to subscribe for one Unit upon payment of the subscription price of $12.40, which is 102% of the most recent closing price per Unit on the TSX prior to the date of the preliminary prospectus. Subject to more specific terms outlined in the final prospectus, the exercise period of the Warrants will be subject to a call option such that if exercised by the Fund, the new expiry date will be 20 business days from the date of the news release announcing that the call option is being exercised by the Fund.

Warrants issued pursuant to the Offering will not be eligible to receive distributions. However, subject to applicable record dates, Units received upon exercise of the Warrants will be eligible to receive distributions from the Fund.

The Warrants are being provided exclusively to unitholders of the Fund. Unitholders will have the opportunity to exercise their Warrants to acquire additional Units at a pre-determined price potentially lower than the market price of the Units. Proceeds from exercise of the Warrants will provide the Fund with additional capital, allowing the Fund to take advantage of attractive investment opportunities, and is also expected to increase trading liquidity of the Units and reduce the management expense ratio of the Fund, as well as ensure the sustainability of the Fund.

The Warrants distributed under this prospectus have been conditionally approved for listing on the TSX under the symbol EIT.WT.E. The Units issuable upon exercise of the Warrants will be freely tradable (EIT.UN). Once the Warrants begin trading, investors will have the opportunity to buy or sell the Warrants, which will trade independently of the existing Units. Warrants will be distributed to client accounts by brokers and custodians on a best-efforts basis after the Record Date. The Fund will pay an exercise fee of $0.10 per Unit subscribed for, payable to the investment advisor of the CDS participant whose client is exercising the Warrant.

The Warrants are not qualified for distribution in the United States of America. For further details please consult the final prospectus and your investment advisor. A copy of the final prospectus has been filed on SEDAR at www.sedar.com. Full details about this Offering will be available on our website at www.canoefinancial.com or you can contact us at 1-877-434-2796.

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

Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its 'GO CANADA!^®' investment thesis reflects Canoe's strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada's sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.

Canoe Financial is one of Canada's fastest-growing mutual fund companies and as at April 30, 2014, manages approximately $2.5 billion in assets through its investment products. To learn more about Canoe Financial, visit www.canoefinancial.com.

^® GO CANADA! is a registered trade-mark of Canoe Financial LP.

Forward Looking Statement: Certain statements included in this news release constitute forward looking statements which reflect Canoe Financial'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. 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 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.

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.