TMXgroup

February 15, 2012

First Asset Canadian Dividend Opportunity Fund II (the "Fund") – An application has been granted for the original listing in the Industrial category of up to maximum of 17,250,000 Units ("Units"), of which up to 15,000,000 Units will be issued and outstanding, and up to 2,250,000 Units will be reserved for issuance upon completion of an initial public offering (the "Offering").

Listing of the Units will become effective at 5:01 p.m. on Thursday, February 16, 2012, in anticipation of the public offering closing on Friday, February 17, 2012 ("Closing Date"). The Units, other than those which have not been distributed to the public, will be posted for trading at the opening on Friday, February 17, 2012.

Registration of interests in and transfers of the Units will be made only through the Book-Entry Only System. On the closing date, the Fund will deliver to CDS a certificate representing the aggregate number of Units subscribed for under the Offering. Units must be purchased and transferred only through a CDS Participant. Upon purchase of any Units, the beneficial holders of Units (the "Unitholders) will receive only a customer confirmation from the registered dealer which is a CDS Participant and from or through which the Units are purchased.

Additional information on the Units may be found in the final prospectus dated January 25, 2012 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.

Stock Symbol: "DVF.UN"   CUSIP:   31863C 10 4   Trading Currency: CDN $

Temporary Market Maker: W.D. Latimer Co. Limited

Other Markets: None

Head Office
Address: 95 Wellington Street West
Suite 1400
Toronto, Ontario
M5J 2N7

Email Address: info@firstasset.com

Website Address: www.firstasset.com

Head Office
Telephone Number: (416) 642-1289

Fax Number: (416) 362-2199

Investor Relations: Rob MacNiven
(416) 642-1289
rmacniven@firstasset.com

Chief Financial Officer: Karen Wagman

Secretary: Z. Edward Akkawi

Incorporation: The Fund is an investment trust established under the laws of the Province of Ontario pursuant to the Declaration of Trust dated January 25, 2012.

Manager of the Fund: First Asset Investment Management Inc.

Fiscal Year End: December 31

Nature of Business: The Fund has been created to invest in an actively managed portfolio ("Portfolio") comprised primarily of dividend paying equity securities of Canadian Utility Issuers, Energy Issuers, Energy Infrastructure Issuers, REITS, and Telecommunications and Cable Issuers that First Asset Investment Management Inc. (the "Manager") believes will provide superior risk adjusted returns through a combination of dividend income and capital appreciation potential.

Transfer Agent &
Registrar: Computershare Investor Services Inc. at its principal office in Toronto.

Distributions: The Fund will not have a fixed monthly distribution amount but distributions are initially targeted to be 5.0% per annum on the subscription price of $10.00 per Unit ($0.0416 per Unit per month or $0.50 per Unit per annum). The amount of monthly distributions going forward will be based, in part, on the Manager's assessment of anticipated cash flow, expenses of the Fund, market conditions and the tax position of the Fund from time to time. Assuming gross proceeds of the Offering are $100 million and fees and expenses are as described in the Prospectus, the Portfolio, using the maximum amount of leverage permitted, would be required to generate an average annual total return of approximately 6.49%, inclusive of dividends and other income, in order for the Fund to achieve its initial targeted monthly distributions for the Units.

Conversion: On or about but no later than February 28, 2014, the Fund will, subject to all regulatory approvals required by legislation then in force, automatically either (i) convert to an open-end mutual fund; or (ii) merge with an open-end mutual fund on a tax-deferred basis to be managed by the Manager or an affiliate of the Manager (the "Conversion"). The Fund shall provide notice of the Conversion to Holders, not less than 60 days prior to the Conversion.

Public Offering: Pursuant to the terms of the Prospectus, up to a maximum of 15,000,000 Units are being offered to the public by CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Dundee Securities Ltd. and Macquarie Private Wealth Inc. as agents, at a price of $10.00 per Unit.