The Canadian Shield Fund raises an additional $7.75 million through
over-allotment option

TSX Symbols: MSP.UN, MSP.WT

TORONTO , Dec. 10 /CNW/ - Mackenzie Financial Corporation ("Mackenzie Investments") is pleased to announce that the agents of The Canadian Shield Fund (the "Fund") have exercised their over-allotment option. As a result, the Fund has completed the issue of an additional 775,000 combined units at a price of $10.00 each for gross proceeds of $7.75 million . The total gross proceeds of the Fund's initial public offering of combined units are now $127.75 million .

The combined units have separated into units and warrants, which are now trading separately on the Toronto Stock Exchange under the symbols MSP.UN and MSP.WT respectively.

The investment objectives of the Fund are to generate risk-adjusted absolute returns in Canadian dollars and to preserve the Fund's capital in all market environments. The Fund intends to achieve these objectives by investing the net proceeds of the offering in an actively-managed portfolio consisting mainly of Canadian securities.

The Fund has been designed to take advantage of the expertise of Parador Asset Management, LLC ("Parador"), which will provide investment advisory and portfolio management services to the Fund. Parador's Chief Investment Officer is Roger Mortimer .

The offering was made through a syndicate of agents co-led by CIBC World Markets Inc. and RBC Capital Markets and including BMO Capital Markets, 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. Mackenzie Investments and Parador were represented by Osler, Hoskin & Harcourt LLP. The agents were represented by Blake, Cassels & Graydon LLP.

Mackenzie Investments: Mackenzie Investments was founded in 1967 and is a leading investment management firm providing investment advisory and related services. With $62.6 billion in assets under management as of November 30, 2009 , Mackenzie Investments distributes its services through a diversified network of third-party financial advisors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with over $118 billion in total assets under management as of November 30, 2009 .

To learn more, please contact your financial advisor or visit www.mackenziefinancial.com/msp.

For further information: Trish Tervit, Environics Communications Inc., [phone], [email protected]