Securityholders Approve Canoe Financial Fixed Administration Fees to Increase Fee Predictability and Consistency and Other Changes

CALGARY, ALBERTA--(Marketwired - Dec. 18, 2013) -

Canoe Financial LP, one of the fastest growing mutual fund companies in Canada, announced today that securityholders have approved proposals to establish a fixed rate administration fee for certain of its mutual funds, to amend the redemption rights for certain of its mutual funds and to amend the language in the investment objectives of EnerVest Natural Resource Fund, at special meetings held on December 17, 2013.

Fixed Rate Administration Fee

Effective January 1, 2014, Canoe Financial will pay the operating expenses of each of the participating mutual funds in exchange for the payment by each fund of a fixed rate administration fee. The administration fee replaces most operating expenses incurred by the funds except certain fund costs such as applicable taxes, interest and borrowing costs, directors and trustee fees, Independent Review Committee (IRC) costs, the costs of complying with any new regulatory requirements or with any material change to existing regulatory requirements and fees and expenses for certain types of securityholder meetings.

Canoe Financial may, in some years and in certain cases, pay a portion of a fund's administration fee or fund costs. The decision to absorb the administration fee or fund costs is reviewed periodically and determined at the discretion of Canoe Financial, without notice to securityholders.

Securityholders in each mutual fund that is a trust, in Canoe Strategic High Yield Class and in EnerVest Natural Resource Fund voted in favor of the resolution to adopt a fixed rate administration fee. Once implemented, investors will benefit from lower fees, greater fee predictability and increased transparency, as certain components of the MER for the funds will become fixed rather than varying from year to year.

Investment Objectives

Securityholders of EnerVest Natural Resource Fund voted in favor of the resolution to amend the language in the investment objectives of the fund to conform to the style used in the investment objectives of the other mutual funds managed by Canoe Financial and to reflect that EnerVest Natural Resource Fund will have greater flexibility to invest its assets in foreign securities in addition to its current focus on Canadian securities. The portfolio manager currently intends to limit its investments in foreign securities to no more than 30% of the Fund's assets. This change will take effect on January 1, 2014.

Redemption Rights Change

Securityholders in each mutual fund that is a trust, in Canoe Strategic High Yield Class and in EnerVest Natural Resource Fund voted in favor of the resolution to amend the redemption rights of these funds to give Canoe Financial broader authority to redeem investors from the funds where the holding of securities by an investor is, in Canoe Financial's reasonable opinion, detrimental to the fund or as otherwise determined by Canoe Financial, including in connection with a reorganization or winding-up of the fund or otherwise. This change takes effect immediately.

A complete list of the mutual funds that are subject to these changes, along with additional information, is available at www.canoefinancial.com.

A quorum was not achieved for the meetings of the following mutual funds: Canoe Bond Advantage Class, Canoe Enhanced Income Class, Canoe Monthly Income Class, Canoe Canadian Asset Allocation Class, Canoe North American Monthly Income class, Canoe Equity Income Class, Canoe Energy Income Class, Canoe Equity Class and Canoe Energy Class. The meetings for these funds will be adjourned to December 20, 2013 at which meeting a quorum will be any one investor who attends the meeting in person or by proxy.

About Canoe Financial LP

Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its 'GO CANADA!'^® investment thesis reflects Canoe's strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada's sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.

Canoe Financial is one of Canada's fastest-growing mutual fund companies and currently manages approximately $2.0 billion in assets as at November 30, 2013 through its investment products. To learn more, visit www.canoefinancial.com.

^® 'GO CANADA!' is a registered trade-mark of Canoe Financial LP.

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 and Annual Information Form 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. These funds are new and there is no history of performance associated with these funds. 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. Such an offer can only be made by way of a prospectus or other applicable offering document which should be read carefully before making any investment. Investors should consult their Investment Advisor for complete details and risk factors on specific strategies and various investment products.

This communication may contain forward-looking statements which involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated, and should not be unduly relied upon. Canoe Financial does not undertake any obligation to publicly update or revise any forward- looking statements. Market conditions may change and Canoe Financial accepts no responsibility for individual investment decisions arising from the use or reliance on the information contained herein.