Canoe EIT Income Fund Announces 2019 Annual Voluntary Redemption Results

CALGARY, Alberta, Nov. 19, 2019 (GLOBE NEWSWIRE) -- Canoe EIT Income Fund ("Canoe" or the "Fund"), (TSX:EIT.UN) today announced the results of the 2019 voluntary cash redemption.

Requests for redemption of approximately 565,803 units of the Fund, representing approximately 0.48% of the current issued and outstanding units, have been submitted by unitholders. The Fund's Declaration of Trust limits the annual redemption to 10% of the issued and outstanding units on the final day on which to submit units for redemption, which was November 15, 2019. Payment of the redemption proceeds will be made on or before January 2, 2020 at a redemption price equal to 95% of the average net asset value based on the three business days preceding the redemption date of December 9, 2019, less direct costs. Units that have been submitted for redemption will remain eligible for the November 2019 distribution, which is paid in December 2019.

About Canoe EIT Income Fund

One of Canada's largest closed-end investment funds, designed to maximize monthly distributions and capital appreciation by investing in a broadly diversified portfolio of high quality securities. The Fund is listed on the TSX under the symbol EIT.UN and is actively managed by Robert Taylor, Senior Vice President and Portfolio Manager of Canoe Financial.

About Canoe Financial
Canoe is one of Canada's fastest growing independent mutual fund companies managing over $6.0 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 and Montreal.

Further Information

Investor Relations
1?877?434?2796
www.canoefinancial.com
[email protected]

Disclaimer

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of America.

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.