Canoe Financial 2016 Flow-Through Raises More Than $18 Million

CALGARY, ALBERTA--(Marketwired - April 15, 2016) -

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

Canoe Financial LP (the "Manager" or "Canoe") has completed the second and final closing for the initial public offering (the "Offering") of limited partnership units ("Units") of Canoe 2016 Flow-Through LP (the "Partnership") in each of the provinces of Canada, except Quebec. In combination with the first closing on March 11, 2016, the Partnership has issued 239,420 class CDE Units and 510,135 class CEE Units at a price of $25.00 per Unit for aggregate gross proceeds of $18,738,875.

The Partnership's investment objective is to provide limited partners with exposure to quality tax-advantaged energy investments of one or both of its two separate investment portfolios: (i) one consisting primarily of Canadian Development Expense ("CDE") flow-through shares of resource companies (the "Class CDE Portfolio"); and (ii) one consisting primarily of Canadian Exploration Expense ("CEE") flow-through shares of resource companies (the "Class CEE Portfolio", and together with the Class CDE Portfolio, the "Investment Portfolios"). The Partnership provides investors with the choice of investing in either the Class CDE Portfolio or the Class CEE Portfolio or a combination of both, allowing investors to target their specific investment requirements.

The Investment Portfolios will be managed by Canoe Financial LP, a Calgary-based investment management firm with approximately $3.4 billion in assets under management. Canoe's personnel have experience investing in and operating oil and natural gas companies as well as financing and structuring energy-related transactions. On or before June 30, 2018, the Partnership intends to complete an exchange transaction on a tax-deferred basis with Canoe 'GO CANADA!'^® Fund Corp. or with another designated Canoe Financial mutual fund.

The Offering was conducted by a syndicate of agents co-led by Scotiabank, CIBC and RBC Capital Markets and includes BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., GMP Securities L.P. and Raymond James Ltd.

About Canoe Financial LP

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 manages approximately $3.4 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, Montreal and Ottawa. To learn more about Canoe Financial and its investment products, visit www.canoefinancial.com.

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

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 A dvisor for details and risk factors regarding specific strategies and various investment products.