Canoe 'GO CANADA' Income Fund Completes Initial Public Offering

CALGARY, ALBERTA--(Marketwire - Jan. 18, 2011) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. Canoe Financial LP ("Canoe") announces that the Canoe 'GO CANADA' Income Fund (the "Fund") has completed its initial public offering of units ("Combined Units") of the Fund, pursuant to the final prospectus dated December 17, 2010. Gross proceeds totaling over $55.2 million were raised, representing approximately 4.6 million Combined Units at a purchase price of $12.00 per Combined Unit. Each Combined Unit consists of one transferable trust unit (a "Unit") and one-half of one Unit purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one Unit at the subscription price of $12.00 per Unit on or before 5:00 p.m. (Toronto time) on January 30, 2012 (the "Warrant Expiry Time"). The Units are listed on the Toronto Stock Exchange under the symbol GCI.A. The Fund has been created to provide investors with exposure to a diversified portfolio comprised primarily of equity and fixed income securities of Canadian issuers. The Fund's portfolio will be managed by Haber Trilix Advisors, LP ("Haber") led by Robert Haber, an awarding winning portfolio manager and former CIO of Fidelity Investments Canada. Haber believes the Fund's portfolio is positioned to take advantage of the increasing demand by emerging and developing economies for resources, assets and services provided by these Canadian issuers. Canoe and Haber believe that by investing in the Fund, investors will participate in a period of major economic growth over the next decade and beyond, because they believe: /T/ -- developing economies will be the drivers of future global economic growth; -- resource rich countries like Canada, with its stable fiscal regime and sound banking system, will benefit from this new source of growth; and -- quantitative easing will reduce the cost for developing economies to fund their growth. /T/ The Fund's distributions are initially targeted to be 6% per annum on the subscription price of $12.00 per Combined Unit ($0.06 per Unit per month or $0.72 per Unit per annum). About Canoe Financial LP Canoe Financial is a privately owned investment management firm with over $1.7billion in assets under management and a solid performance track record. Canoe is focused on helping Canadian investors and advisors meet their financial goals with well managed, diversified, tax effective investment products. Canoe also has expertise in energy and resource investments. A copy of the Final Prospectus has been filed on SEDAR at www.sedar.com or may be obtained on our website at www.canoefinancial.com. Combined Units are not being offered for sale to residents of the United States. Capitalized terms used in this news 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.

Contact Information: Canoe Financial Investor Relations 1-877-434-2796 info@canoefinancial.com www.canoefinancial.com