CALGARY, ALBERTA--(Marketwired - Oct. 12, 2016) -
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of
America.
Canoe EIT Income Fund ("Canoe" or the "Fund")(TSX:EIT.UN) today announced the 2016 voluntary cash
redemption.
VOLUNTARY ANNUAL CASH REDEMPTION
The redemption date for the Fund's annual voluntary cash redemption will be December 8, 2016. Unitholders are
entitled to redeem units of the Fund at a price equal to 95% of the Average Net Asset Value (NAV) of the three trading days
preceding the December 8, 2016 redemption date, less direct costs. Direct costs are expected to be less than 1%. If all
redemption requests exceed 10% of the aggregate outstanding units of the Fund on November 17, 2016, the final day to submit units
for redemption, the Fund will process redemptions to this maximum on a pro-rata basis based on the total number of units
tendered. Payment for units that have been tendered and accepted for redemption will be made on or before January 3, 2017.
Unitholders wishing to redeem their units must provide notice of their intent to do so with their investment
advisor or brokerage office no later than November 17, 2016. Please note that investment firms may impose an earlier
deadline in order to facilitate the processing of redemption requests. Unitholders are strongly urged to consult their investment
advisor or brokerage office directly to confirm their internal deadlines. Registered unitholders (those who hold a
physical share certificate in their name) should contact the Fund's transfer agent, Alliance Trust Company, at 403-237-6111 to
redeem their units. Units that have been submitted for redemption will remain eligible for the October 2016 and November 2016
distributions which are paid in November 2016 and December 2016, respectively.
Please note that any redemption requests made by non-resident unitholders may be subject to withholding tax.
| Key Dates: |
|
| October 13 - November 17, 2016: |
Unitholders may tender units for redemption |
| December 5, 6 & 7, 2016: |
Redemption price determined based on average NAV of these trading days |
| December 8, 2016: |
Redemption date |
| January 3, 2017: |
Payment of redemption proceeds on or before this date |
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.
About Canoe Financial
Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial
wealth for Canadians. Canoe Financial is one of Canada's fastest-growing independent mutual fund companies and currently manages
approximately $3.8 billion in assets across a diversified range of award- winning mutual funds and private energy equity
products. Canoe Financial has expanded from its Calgary head office across Canada, including a significant presence in Toronto
and offices in Vancouver, Winnipeg, Ottawa and Montreal. To learn more about Canoe Financial and its investment products, visit
www.canoefinancial.com.
The Fund makes monthly distributions of an amount comprised in whole or in part of Return of Capital (ROC) of the
net asset value per unit. A ROC reduces the amount of your original investment and may result in the return to you of the entire
amount of your original investment. ROC that is not reinvested will reduce the net asset value of the fund, which could reduce
the fund's ability to generate future income. You should not draw any conclusions about the fund's investment performance from
the amount of this distribution.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please
read the information filed about the fund on www.sedar.com before investing.
Investment funds are not guaranteed and past performance may not be repeated.
This communication 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 and should be read
carefully before making any investment. This release is for information purposes only. Investors should consult their Investment
Advisor for details and risk factors regarding specific strategies and various investment products.