CANOE Financial LP

CANOE Financial LP

July 25, 2016 12:21 ET

Canoe Financial Announces Completion of Floating Rate Income Fund Merger

CALGARY, ALBERTA--(Marketwired - July 25, 2016) -

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

Canoe Financial LP ("Canoe" or the "Manager") announces that the merger of the Floating Rate Income Fund (TSX:OFR.UN) into Canoe Floating Rate Income Fund (the "Continuing Fund") (GOC1509), an open-end mutual fund managed by Canoe, became effective as of the close of business on July 22, 2016. The merger was approved by unitholders at a special meeting held on January 15, 2016.

The unitholders of the Floating Rate Income Fund transferred their units to the Continuing Fund in exchange for Series Z shares of the Continuing Fund. Pursuant to the merger, each unitholder of the Fund received 0.871058546 Series Z shares of the Continuing Fund in exchange for each unit of the Floating Rate Income Fund. The exchange ratio was determined with reference to the net asset value for each of the Floating Rate Income Fund and the Continuing Fund as at the close of business on July 22, 2016. The net asset value per Series Z of the Continuing Fund as of July 22, 2016 was $10.00.

The monthly distribution for Series Z of Canoe Floating Rate Income Fund has been increased from $0.0525 to $0.0603 per unit.

About the Continuing Fund

The Continuing Fund is an open-end mutual fund and aims to provide a steady flow of income and capital growth through diversified investments primarily in Canadian equity and fixed income securities.

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 $3.6 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.

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.

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. Investment funds are not guaranteed and past performance may not be repeated.

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