Securityholders in Canoe Financial Mutual Funds Approve Fixed Administration Fee and Other Changes

CALGARY, ALBERTA--(Marketwired - Dec. 20, 2013) - Canoe Financial LP, one of the fastest growing mutual fund companies in Canada, announced today that at an adjourned meeting held on December 20, 2013, securityholders in its Canoe Bond Advantage Class, Canoe Enhanced Income Class, Canoe Canadian 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 "Funds") approved a proposal to establish a fixed rate administration fee, effective January 1, 2014. 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 the Funds also 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.

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.