Canoe Announces Final Closing for the Canoe 2012 Flow-Through LP

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UNITED STATES OF AMERICA. 


Canoe Financial LP (the "Manager" or "Canoe"), today announced that the second
and final closing of the public offering of limited partnership units ("Units")
of the Canoe 2012 Flow-Through LP (the "Partnership") has been completed. The
Partnership issued a total of 506,154 Units at $25.00 per Unit for aggregate
gross proceeds of approximately $12.7 million raised.


The Partnership's investment objective is to provide Limited Partners with
exposure to quality, tax-advantaged energy investments within two separate
portfolios, consisting primarily of (i) Canadian Exploration Expense ("CEE")
Flow-Through Shares of Resource Companies (the "Class CEE Portfolio"); or (ii)
Canadian Development Expense ("CDE") Flow-Through Shares of Resource Companies
(the "Class CDE Portfolio", and together with the Class CEE Portfolio, the
"Investment Portfolios"). The Partnership provides the choice of investing in
either the Class CEE Portfolio or the Class CDE Portfolio or a combination of
both, allowing investors to tailor their investment to their specific investment
requirements. Approximately 56% of proceeds raised were allocated to the Class
CDE Portfolio, the balance of the proceeds were allocated to the Class CEE
Portfolio.


The Investment Portfolios will be managed by Rafi G. Tahmazian, Senior Portfolio
Manager and Partner of Canoe Financial LP, a Calgary-based investment management
firm with approximately $1.7 billion in assets under management. Canoe's
investment team has extensive experience investing in and operating oil and
natural gas companies as well as financing and structuring energy-related
transactions.


The offering was conducted by a syndicate of Agents co-led by CIBC and RBC
Capital Markets and included BMO Capital Markets, TD Securities Inc., National
Bank Financial Inc., Scotia Capital Inc., Canaccord Genuity Corp., Manulife
Securities Incorporated, Mackie Research Capital Corporation, Macquarie Private
Wealth Inc., Dundee Securities Ltd., GMP Securities LP., and Raymond James Ltd.


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 is one of Canada's fastest-growing investment fund companies and currently
manages approximately $1.7 billion in assets through its investment products. To
learn more about Canoe Financial, visit www.canoefinancial.com.


Forward Looking Statement: Certain statements included in this news release
constitute forward looking statements which reflect Canoe Financial's current
expectations regarding future results or events. Words such as "may," "will,"
"should," "could," "anticipate," "believe," "expect," "intend," "plan,"
"potential," "continue" and similar expressions have been used to identify these
forward-looking statements. Forward-looking statements involve significant risks
and uncertainties and a number of factors could cause actual results to
materially differ from expectations discussed in the forward looking statements
including, but not limited to, changes in general economic and market conditions
and other risk factors. Although the forward-looking statements are based on
what Canoe Financial believes to be reasonable assumptions, we cannot assure
that actual results will be consistent with these forward-looking statements.
Investors should not place undue reliance on forward-looking statements. These
forward-looking statements are made as of the current date and we assume no
obligation to update or revise them to reflect new events or circumstances.


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.