Marquest Canadian Equity Income Fund Announces Closing of Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - May 27, 2011) - Marquest Canadian Equity Income Fund (the "Fund") (TSX:MIF.UN) is pleased to announce that the Fund's syndicate of agents for its initial public offering has exercised the over-allotment option for an additional 65,555 units (the "Units") of the Fund. In total, the Fund has issued 2,315,555 Units, for gross proceeds of $23,155,550. The Units are listed for trading on the Toronto Stock Exchange under the symbol "MIF.UN".

The Units were offered to the public by a syndicate of agents led by Scotia Capital Inc., CIBC World Markets Inc., and RBC Capital Markets, and included BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., GMP Securities L.P., HSBC Securities (Canada) Inc., Macquarie Private Wealth Inc., Raymond James Ltd., Mackie Research Capital Corporation, Wellington West Capital Markets Inc., Dundee Securities Ltd., and Union Securities Ltd.