TMXgroup

November 18, 2009

The Canadian Shield Fund (the "Fund") - An application has been granted for the original listing in the Industrial category of up to 23,000,000 combined units (the "Combined Units") of the Fund, of which up to 20,000,000 Combined Units will be issued and outstanding, and up to 3,000,000 Combined Units will be reserved for issuance upon completion of an initial public offering (the "Offering").

Listing of the Combined Units will become effective at 5:01 p.m. on Thursday, November 19, 2009, in anticipation of the offering closing on Friday, November 20, 2009. The Combined Units will be posted for trading at the opening on November 20, 2009.

Each Combined Unit consists of one redeemable unit (the "Unit") and one-half of one warrant (the "Warrant"). The Combined Units will separate into Units and Warrants upon the earlier of the closing of the final exercise of the over-allotment option or 30 days after the closing of the Offering. Each Warrant entitles the holder to purchase one Unit at a subscription price of $10.50 per Unit on and only on March 31, 2011 (the "Expiry Time"). Warrants not exercised by the Expiry Time will be void and of no value.

Upon separation of the Combined Units, the Units and the Warrants will be listed on TSX. A further bulletin will be issued confirming the separation date of the Combined Units and the trading information of the Units and Warrants.

Registrations of interests in, and transfers of, the Combined Units and the Units will be made through the book-entry only system of CDS Clearing and Depository Services Inc. ("CDS"). Registrations of interests in, and transfers of, the Warrants will be made only through the book-based system of CDS. Combined Units, Units and Warrants must be purchased and transferred, and Units surrendered for redemption, only through a CDS Participant. Upon purchase of any Combined Units, Units or Warrants, the owner will receive only the customary confirmation.

Additional information on the Combined Units, Units and Warrants can be found in the Fund's final prospectus dated October 29, 2009 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.

Stock Symbol: "MSP.A"
CUSIP: 136614 20 3
Trading Currency: CDN$

Temporary Market Maker: Desjardins Securities Inc.

Other Markets: None

Head Office Address: 180 Queen Street West
Toronto, Ontario M5V 3K1

Head Office Telephone Number: (416) 922-3217

Fax Number: (416) 922-5660

Email Address: service@mackenziefinancial.com

Website Address: www.mackenziefinancial.com

Manager: Mackenzie Financial Corporation

Investor Relations: P. Brad Gerster
Mackenzie Financial Corporation
Tel: (416) 967-2134
E-mail: brad.gerster@mackenziefinancial.com

Chief Financial Officer of the Manager: Edward L. Merchand

Secretary of the Manager: Geoffery D. Creighton

Incorporation: The Fund is closed-ended investment trust governed by the laws of the Province of Ontario pursuant to a declaration of trust dated October 29, 2009.

Fiscal Year End: March 31

Nature of Business: The Fund has been created to invest in an actively managed portfolio consisting mainly of Canadian securities. The Fund will invest in securities and themes that offer downside capital protection together with an asymmetric opportunity to participate in capital appreciation. The Fund has the latitude to invest in other markets and in other asset classes when, in the opinion of Parador Asset Management, LLC (the "Portfolio Manager"), their prospective risk/return in Canadian dollars is favourable. The Fund's investment objectives are to generate superior risk-adjusted absolute returns in Canadian dollars and to preserve the Fund's capital in all market conditions.

Transfer Agent & Registrar: Mackenzie Financial Corporation at its principal office in Toronto.

Distributions: The Fund does not anticipate making regular distributions on the Units.

The Fund will pay one or more special distributions in each year as required to ensure that the Fund will not be liable for non-refundable tax under Part I of the Tax Act on its net income for tax purposes, including net realized capital gains. Such distributions will be paid in Units and such Units will be automatically consolidated into that number of Units outstanding immediately prior to the distribution.

Conversion: The Fund will become an open-end mutual fund on or about July 2, 2011 (the "Conversion Date") and the Units will be delisted. On and after the Conversion Date, the Units will be redeemable at their NAV per Unit on a daily basis and the Fund will become subject to National Instrument 81-102 - Mutual Funds of the Canadian Securities Administrators.

Initial Public Offering: Pursuant to the terms of the Prospectus, a maximum of 23,000,000 Combined Units (including the overallotment option of 3,000,000 Units) at a price of $10.00 per Combined Unit are being offered to the public by CIBC World Markets Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Blackmont Capital Inc., Desjardins Securities Inc., Dundee Securities Corporation, GMP Securities L.P., Manulife Securities Incorporated, Raymond James Ltd. and Wellington West Capital Markets Inc., as agents.