Ninepoint Partners Announces First Closing of Ninepoint 2019 Short Duration Flow-Through Limited Partnership
October 04 2019 - 9:48AM
Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the
Ninepoint 2019 Short Duration Flow-Through Limited Partnership (the
“Partnership”) has completed the first closing in connection with
its offering of limited partnership units (the “Units”) pursuant to
a prospectus dated September 26, 2019. The Partnership issued
377,597 units for gross proceeds of $9,439,925. The Partnership
will have a second and final closing in respect of the Units on or
about October 17, 2019. The Units are being offered at a price per
Unit of $25.00 with a minimum subscription of 100 Units ($2,500).
The Partnership has retained Sprott Asset
Management LP (“Sprott”) to act as sub-advisor to the Partnership.
The Partnership intends to provide liquidity to limited partners
through a rollover to the Ninepoint Resource Class in the period
between January 15, 2021 and February 28, 2021.
Investment Objective of the
PartnershipThe 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 and other securities, if any, of Resource
Issuers.
Attractive Tax-Reduction
BenefitsFlow-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.
Resource ExpertiseThe
Partnership will be sub-advised by 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.
AgentsThe 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., GMP Securities L.P., Industrial Alliance Securities
Inc., Manulife Securities Incorporated, Raymond James Ltd.,
Canaccord Genuity Corp., Desjardins Securities Inc., and Echelon
Wealth Partners Inc.
About Ninepoint Partners
LPBased in Toronto, Ninepoint Partners LP is one of
Canada’s leading alternative investment management firms overseeing
approximately $3.1 billion in assets under management. 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 including
North American Equity, Global Equity, Real Assets & Alternative
Income.
Ninepoint is an operating company that has been
created to assume portfolio management of the Canadian diversified
assets of Sprott Asset Management LP, including actively managed
hedge and mutual funds.
For more information on Ninepoint Partners LP,
please visit www.ninepoint.com or inquiries regarding the
offering, please contact us at (416) 943-6707 or (866) 299-9906 or
invest@ninepoint.com.
About Sprott Asset Management
LPSprott is an alternative asset manager and a global
leader in precious metal and real asset investments. Sprott is a
subsidiary of Sprott Inc. (the “Corporation”). Through its
subsidiaries in Canada, the US and Asia, the Corporation is
dedicated to providing investors with best-in-class investment
strategies that include Exchange Listed Products, Alternative Asset
Management and Private Resource Investments. The Corporation also
operates Merchant Banking and Brokerage businesses in both Canada
and the US. Sprott is based in Toronto with offices in New York,
Carlsbad and Vancouver and its common shares are listed on the
Toronto Stock Exchange under the symbol (TSX:SII). For more
information, please visit www.sprott.com.
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.
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