Canoe Financial Files Preliminary Prospectus for the Canoe 2012 Flow-Through LP

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA. 


Canoe Financial LP (the "Manager" or "Canoe"), has filed a preliminary
prospectus for the initial public offering of limited partnership units
("Units") of the Canoe 2012 Flow-Through LP (the "Partnership"), in each of the
provinces of Canada, except Quebec.


The Partnership's investment objective is to provide Limited Partners with
exposure to quality tax-advantaged energy investments of 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 target their specific investment requirements. 


The offering has been set at a maximum of $125 million (5,000,000 Units) being
$100 million (4,000,000 CDE Units) of the Class CDE Portfolio and $25 million
(1,000,000 CEE Units) of the Class CEE Portfolio and a minimum of $5 million
(200,000 Units), subject to a minimum of 200,000 CDE Units or 80,000 CEE Units.


The Investment Portfolios will be managed by Canoe Financial LP, a Calgary-based
investment management firm with approximately $1.6 billion in assets under
management. Canoe's personnel have experience investing in and operating oil and
natural gas companies as well as financing and structuring energy-related
transactions. The minimum subscription amount is 200 Units at a price of $25.00
per Unit comprised of one or both of the classes of Units and payable in full on
Closing. On or before June 30, 2014, the Partnership intends to complete an
exchange transaction on a tax-deferred basis with Canoe 'GO CANADA!' Canadian
Energy Class or with another designated Canoe Financial mutual fund. The Canoe
'GO CANADA!' Canadian Energy Class is a mutual fund corporation focused on
generating capital appreciation by investing primarily in oil and natural gas
and related businesses. 


The offering is being conducted by a syndicate of Agents co-led by CIBC and RBC
Capital Markets and includes 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. 


A preliminary prospectus containing important information relating to these
securities has been filed with securities commissions or similar authorities in
all of the provinces of Canada, except Quebec. The preliminary prospectus is
still subject to completion or amendment. Copies of the preliminary prospectus
may be obtained from any of the Agents listed above. There will not be any sale
or any acceptance of an offer to buy the securities until a receipt for the
final prospectus has been issued. These Units will not be offered for sale to
residents of the United States.


About Canoe Financial LP 

Canoe Financial is the Manager of the Fund. Canoe Financial is an investment
management firm focused on building financial wealth for Canadians. Canoe
currently manages approximately $1.6 billion in assets through its investment
products. Canoe is a strong believer in Canada as a place to invest. With
continued global urbanization, increasing worldwide demand for resources and its
sound fiscal structure, we believe Canada provides long-term growth potential
for investors.


To learn more about Canoe Financial, visit our website at 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.