Canoe Strategic Resources Income Fund Announces Initial Public Offering

CALGARY, ALBERTA--(Marketwire - April 26, 2011) -

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

Canoe Financial LP (the "Manager") is pleased to announce that a preliminary prospectus (the "Prospectus") in connection with an initial public offering of Units for the Canoe Strategic Resources Income Fund (the "Fund") has been filed with, and a receipt has been issued by, the securities regulatory authorities in each of the provinces and territories of Canada.

The Fund's investment objectives are to:

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

Distributions are initially targeted to be 6.0% per annum on the Offering Price of $12.00 per Unit ($0.06 per Unit per month or $0.72 per Unit per annum).

The Fund will invest in a portfolio comprised primarily of equity securities of issuers listed on North American exchanges whose security price has been positively correlated to the prices of one of the following six Strategic Resources:

The Manager has retained Haber Trilix Advisors, LP (the "Portfolio Advisor") as portfolio advisor.

The Fund is a closed-end investment fund governed by the laws of the province of Alberta which proposes to issue Units of the Fund (the "Offering") at a price of $12.00 per Unit. Prospective purchasers may purchase Units by cash payment or pursuant to an exchange of eligible securities under an exchange option (the "Exchange Option") as set out in the Prospectus. Pursuant to the Exchange Option, prospective purchasers are required to deposit their securities prior to 5:00 p.m. (Toronto time) on June 7, 2011. CDS participants may have an earlier deadline for receiving instructions. The Fund will issue a press release as soon as practicable after the close of business on June 7, 2011 announcing among other things, the applicable exchange ratio for each exchange eligible security.

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

About Canoe Financial LP

Canoe Financial is an experienced and innovative investment management firm focused on building financial wealth for Canadians. Canoe currently manages approximately $1.8 billion in assets through its mutual fund and closed-end products. Canoe is a strong believer in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources and our sound fiscal structure, we believe Canada provides long-term growth potential for investors.

Canoe Financial is committed to providing exceptional client service and is a proud partner of Canada's Investment Advisor and Financial Planner network. To learn more about Canoe, visit our website at www.canoefinancial.com.

A preliminary prospectus containing important information relating to the Units has been filed with securities commissions or similar authorities in all of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from your broker or from one of the agents listed above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.Units will not be 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 preliminary 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's and its affiliates' ("Canoe") 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 Canoe 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. Canoe 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.

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.