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Canoe EIT Income Fund Completes Overnight Offering

(Calgary, Alberta) – November 9, 2018. Canoe EIT Income Fund (the “Fund”) (TSX: EIT.UN) (TSX: EIT.PR.A) (TSX: EIT.PR.B) is pleased to announce it has completed the overnight offering of 6,261,288 Units of the Fund (the “Units”). Total proceeds of the offering were approximately $70.0 million.  The Units will trade on the Toronto Stock Exchange under the existing symbol of “EIT.UN”.

The Units were offered at a price of $11.18 per Unit to yield 10.7%.

The offering was co-led by National Bank Financial Inc., CIBC Capital Markets and Scotiabank and also included RBC Capital Markets, TD Securities Inc., BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., Industrial Alliance Securities Inc., Raymond James Ltd., Desjardins Securities Inc., Echelon Wealth Partners Inc., Haywood Securities Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated.

The net proceeds of the offering will be used by the Fund in accordance with its investment objectives and investment strategies, subject to the investment restrictions of the Fund.

The Fund’s regular monthly distribution of $0.10 per unit for unitholders of EIT.UN units remains unchanged. The Fund has maintained the $0.10 per unit monthly distribution since August 2009, through varying market conditions.  The Fund’s annual voluntary redemption feature for unitholders of EIT.UN units remains unchanged.

You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange. If the units are purchased or sold on the Toronto Stock Exchange, investors may pay more than the current net asset value when buying Units of the Fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

The Units have not been, nor will be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. persons absent registration or applicable exemption from the registration requirement of such Act and applicable state securities laws. This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such jurisdiction.

About the Fund

The Fund is one of Canada's largest, diversified closed-end investment funds and is listed on the TSX under the symbol EIT.UN.  The Fund is actively managed and invests in a diversified portfolio of income-generating and capital growth-oriented securities listed primarily on the TSX.  The Fund is designed to maximize distributions and net asset value for the benefit of its unitholders.  The Fund is managed by Robert Taylor, Senior Vice President and Portfolio Manager of Canoe Financial LP.

About Canoe Financial LP

Canoe is one of Canada’s fastest growing independent mutual fund companies managing $4.5 billion in assets across a diversified range of award-winning mutual funds and private energy equity products. Founded in 2008, Canoe Financial LP is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe has offices in Calgary, Toronto, Vancouver, Winnipeg, and Montreal.

Further Information

Investor Relations
Canoe Financial LP
1–877–434–2796
info@canoefinancial.com