Dragon Deal- Wilson and O'Leary Reach Agreement

CALGARY, ALBERTA--(Marketwired - Oct. 15, 2015) - Canoe Financial (Canoe) Chairman W. Brett Wilson and O'Leary Funds Management LP (O'Leary Funds) Chairman Kevin O'Leary today announced that Canoe has agreed to purchase O'Leary Funds management contracts which represent more than $800 million in investment assets - expanding the portfolio of funds managed by Canoe to almost $4 billion. As part of the agreement, Stanton Asset Management Inc. will continue as sub-advisor for certain funds and Kevin O'Leary will become Vice-Chairman of Canoe Financial.

"Kevin and I share some great history as Dragons on Dragons' Den that fostered a relationship leading to today. We've both successfully built our businesses by seeking out the best people and the best assets - I know that Canoe's partners and employees are very excited by this transaction," said W. Brett Wilson, Chairman, Canoe Financial - Canada's fastest-growing independent mutual fund company. "We look forward to providing O'Leary's clients and their top-tier investment advisors access to Canoe's world-class investment managers and enhanced offering of investment solutions."

"Working with Brett on Dragons' Den gave me some great insight and frankly, confidence and trust in his business acumen and financial leadership," said Kevin O'Leary, Chairman, O'Leary Funds Management. "Combining our companies' assets will ensure that Canadian investors continue to have a strong, competitive and independent investment option. This is a tremendous opportunity for O'Leary investors who will be well-served by Canoe's award-winning portfolio management team and outstanding customer service and sales groups that truly separate Canoe from the rest of the pack. I can't imagine a better or more synergistic fit for our investors than Canoe."

"This transaction is the next step for Canoe in continuing our vision to be a leading high-quality, independent asset manager and a first choice for Canadian investors with asset management needs," said Darcy Hulston, President & CEO, Canoe Financial. "We believe that this deal enhances the range of investment solutions that Canadian investors are looking for - whether it is growth/capital appreciation or income/capital preservation - Canoe offers a complete line up of investment solutions. And, as a result of efficiencies anticipated from this transaction, we also expect to reduce fees on certain fund offerings."

The proposed transaction is subject to the receipt of all necessary regulatory approvals and approval by the securityholders of the O'Leary Funds. Details about the changes will be contained in meeting materials to be mailed to securityholders of the O'Leary Funds. More information on the proposed changes related to the O'Leary funds can be found in the O'Leary news release issued today and posted on www.sedar.com and www.olearyfunds.com. If approved, the proposed transaction is expected to close in January 2016.

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 approximately $3 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 and Ottawa. To learn more about Canoe Financial and its investment products, visit www.canoefinancial.com.

About O'Leary Funds Management LP

O'Leary Funds Management LP is a Canadian investment fund manager of mutual funds and closed-end funds striving to provide Canadian investors with reliable and strategic income solutions. Based on O'Leary's value- yield investment philosophy, Canadian and global investment opportunities are identified through a disciplined investment process. O'Leary's core principles, Income, Capital Appreciation and Capital Preservation, are driven by each portfolios investment objectives. O'Leary's portfolios are diversified by sector, region and asset class. For more details about O'Leary Funds, visit www.olearyfunds.com.

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Important information regarding the Funds, including conditions of purchase, investment strategy, distribution policy, management fees, and expenses, are set out in the Funds' Simplified Prospectus, Annual Information Form and Fund Facts which are available on Canoe Financial's website at www.canoefinancial.com or SEDAR at www.sedar.com. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed and their values change frequently. This communication is for information purposes only and is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Investors should consult with a financial advisor prior to making any investment decisions.