Canoe 'GO CANADA' Income Fund

January 10, 2011 21:27 ET

Canoe 'GO CANADA' Income Fund Announces Exchange Ratios

CALGARY, ALBERTA--(Marketwire - Jan. 10, 2011) -

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

Canoe Financial LP (the "Manager"), announces the exchange ratios of eligible securities under an exchange option (the "Exchange Option") as set out in the final prospectus dated December 17, 2010 for the Canoe 'GO CANADA' Income Fund (the "Fund"). 

Exchange Option

Prospective purchasers of the Fund had the option to purchase Units by cash payment or pursuant to the Exchange Option. The number of Units issuable in exchange for the securities was determined by dividing the volume weighted average trading price of such securities on the Toronto Stock Exchange during the five consecutive trading days ending on, and including January 10, 2011 (the "Pricing Period"), as adjusted to reflect distributions declared by the applicable Issuer that will not be received by the Fund, by $12.00. 

The table below sets out the equity securities that are Exchange Eligible Securities, their CUSIP number, ISIN number, ticker symbol, volume weighted average trading price during the Pricing Period and the Exchange Ratios.

Exchange Eligible Securities CUSIP ISIN Ticker Symbol VWAP Exchange Ratio
Agnico-Eagle Mines Ltd. 8474108 CA0084741085 AEM 70.5860 5.8821
ARC Resources Ltd. 00208D408 CA00208D4084 ARX 25.3100 2.1091
Bank of Montreal 63671101 CA0636711016 BMO 58.0005 4.8333
Bank of Nova Scotia (The) 64149107 CA0641491075 BNS 56.0467 4.6705
Canadian National Railway Company 136375102 CA1363751027 CNR 66.5329 5.5444
Canadian Oil Sands Limited 13643E105 CA13643E1051 COS 26.0383 2.1698
Cenovus Energy Inc. 15135U109 CA15135U1093 CVE 32.6222 2.7185
Enbridge Inc. 29250N105 CA29250N1050 ENB 55.1768 4.5980
EnCana Corporation 292505104 CA2925051047 ECA 29.0106 2.4175
Iamgold Corporation 450913108 CA4509131088 IMG 17.8996 1.4916
Imperial Oil Limited 453038408 CA4530384086 IMO 40.3991 3.3665
Manulife Financial Corporation 56501R106 CA56501R1064 MFC 17.6501 1.4708
Penn West Petroleum Ltd. 707887105 CA7078871059 PWT 24.3548 2.0295
Power Corporation of Canada 739239101 CA7392391016 POW 27.6577 2.3048
Royal Bank of Canada 780087102 CA7800871021 RY 51.9350 4.3279
Shoppers Drug Mart Corporation 82509W103 CA82509W1032 SC 39.6241 3.3020
Suncor Energy Inc. 867224107 CA8672241079 SU 37.5659 3.1304
Teck Resources Limited 878742204 CA8787422044 TCK.B 61.9445 5.1620
Tim Hortons Inc. 88706M103 CA88706M1032 THI 41.9826 3.4985
Toronto-Dominion Bank (The) 891160509 CA8911605092 TD 74.0219 6.1684
TransAlta Corporation 89346D107 CA89346D1078 TA 21.1256 1.7604
Yellow Media Inc. 985569102 CA9855691023 YLO 6.2262 0.5188

About the Fund

The Fund has been created to invest in an actively managed, diversified portfolio (the "Portfolio") primarily comprised of equities and fixed income securities of Canadian businesses. The Manager will also act as portfolio manager for the Fund and has retained Haber Trilix Advisors, LP (the "Portfolio Advisor") as portfolio advisor.

The Fund's investment objectives are to:

  • provide investors with a monthly cash distribution; and
  • maximize Unitholders' risk-adjusted total returns.

The monthly cash distributions are initially targeted to be 6.0% per unit per annum on the $12.00 offering price ($0.06 per unit per month or $0.72 per unit per annum).

The offering is being conducted by a syndicate of Agents co-led by RBC Capital Markets and CIBC and includes BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., Canaccord Genuity Corp., GMP Securities L.P., HSBC Securities (Canada) Inc., Dundee Securities Corporation, Macquarie Private Wealth Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Desjardins Securities Inc., Mackie Research Capital Corporation, Manulife Securities Incorporated and Rothenberg Capital Management.

About Canoe Financial LP

The Manager is a privately owned investment management firm which has over $1.6 billion in assets under management and a solid performance track record. The Manager is focused on helping Canadian investors and advisors meet their financial goals. The Manager provides investors with well managed, diversified, tax effective investment products. The Manager also has significant experience in energy and resource investments. 

A copy of the Final Prospectus has been filed on SEDAR at www.sedar.com or may be obtained from your broker or from one of the agents listed above. Combined Units are not being offered for sale to residents of the United States. Capitalized terms used in this press release and not otherwise defined have the meanings given thereto in the final prospectus.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect Canoe Financial LP and its affiliates (the "Manager") current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. Investment funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value at a constant amount or that the full amount of your investment in the fund will be returned to you. 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. Investors should contact their Investment Advisor to review their investment objectives and strategies. This information is for review purposes only, and investors should consult their Investment Advisor for complete details and risk factors on specific strategies and various investment products.

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