TORONTO, Sept. 21, 2022 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the Ninepoint 2022 Short Duration Flow-Through Limited Partnership (the “Partnership”) has completed the first closing in connection with its offering of Class A and Class F limited partnership Units (the “Units”) pursuant to a prospectus dated September 14, 2022. The Partnership issued 507,377 units for gross proceeds of $12,684,425. The Partnership will have a second closing in respect of the Units on or about October 20, 2022. The Units are being offered at a subscription price of $25.00 per Unit with a minimum subscription of 100 Units ($2,500).
The Partnership intends to provide liquidity to limited partners through a tax-deferred rollover to the Ninepoint Resource Fund Class in the period between January 15, 2024 and February 28, 2024.
Investment Objective of the Partnership
The Partnership’s investment objective is to achieve capital appreciation and significant tax benefits for limited partners by investing in a diversified portfolio of Flow-Through Shares (as defined in the Prospectus) and other securities, if any, of Resource Issuers (as defined in the Prospectus). Investments made with the proceeds from the Units will be made in Resource Issuers across Canada
Attractive Tax–Reduction Benefits
Flow-through partnerships are one of the most effective tax reduction strategies available to Canadians. Ninepoint anticipates that investors participating in the Partnership will be eligible to receive a tax deduction of approximately 100% of the amount invested.
The Partnership will be sub-advised by Sprott Asset Management LP (“Sprott”), one of Canada’s leading investment advisors in small and mid-cap resource companies. Over its long history of investing in the resource sector, Sprott has developed relationships with hundreds of companies. Its experienced team of portfolio managers is supported by a team of technical experts with extensive backgrounds in mining and geology.
Portfolio manager Jason Mayer will manage the portfolio of the Partnership and will be supported by Sprott’s broader team of experienced resource investment professionals.
The offering is being made through a syndicate of agents led by RBC Dominion Securities Inc, which includes CIBC World Markets Inc., TD Securities Inc., National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., iA Private Wealth Inc., Manulife Securities Incorporated, Raymond James Ltd., Richardson Wealth Limited, Canaccord Genuity Corp., Desjardins Securities Inc. and INFOR Financial Inc.
About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners is one of Canada’s leading alternative investment management firms overseeing $8.4 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets.
For more information on Ninepoint, please visit www.ninepoint.com or inquiries regarding the Offering, please contact us at (416) 943-6707 or (866) 299-9906 or [email protected]. Please contact your Investment Advisor for more details.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expects”, “intends”, “anticipates”, “will” and similar expressions to the extent that they relate to the Partnership. The forward-looking statements are not historical facts but reflect the Partnership’s, Ninepoint’s and Sprott’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Partnership, Ninepoint and Sprott believe the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Partnership, nor Ninepoint or Sprott undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
This offering is only made by prospectus. The Partnership’s prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your IIROC registered financial advisor. Investors should read the prospectus before making an investment decision.