Canoe EIT Income Fund Announces Quarterly Distribution on Preferred Units

CALGARY, ALBERTA--(Marketwired - May 9, 2017) -

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)(TSX:EIT.PR.A) announces the initial quarterly 2017 distribution of $0.3058 per unit to Cumulative Redeemable Series 1 Preferred Unit holders, in respect of the period commencing March 14, 2017 through June 15, 2017. The distribution will be paid on June 15, 2017 to unitholders of record on May 23, 2017. The ex-distribution date for this distribution is May 18, 2017.

About the Distribution

The Fund's objective is to maximize monthly distributions relative to risk and maximize net asset value, while maintaining and expanding a diversified investment portfolio.

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 and EIT.PR.A. 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 $4.3 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.