NINEPOINT PARTNERS ANNOUNCES SECOND CLOSING OF NINEPOINT 2020 FLOW-THROUGH LIMITED PARTNERSHIP
March 10 2020 - 1:43PM
Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the
Ninepoint 2020 Flow-Through Limited Partnership (the “Partnership”)
has completed the second closing in connection with its offering of
limited partnership units of the National Class (“National Class
Units”) and the Quebec Class (“Quebec Class Units”, together with
the National Class Units, the “Units”) pursuant to a prospectus
dated January 31, 2020. The Partnership raised $8,335,400 on
the sale of an additional 322,976 National Class Units and
10,440 Quebec Class Units for aggregate gross proceeds of
$23,184,700. The Partnership will have a third and final
closing in respect of the Units on or about April 15, 2020. 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, 2022 and February 28, 2022.
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. Investments made with the proceeds from the National
Class Units will be made in Resource Issuers across Canada and
investments made with the proceeds from the Québec Class Units will
be made in Resource Issuers carrying out activities primarily in
the Province of Québec.
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., Stifel Nicolaus Canada Inc., Industrial Alliance
Securities Inc., Manulife Securities Incorporated, Raymond James
Ltd., Canaccord Genuity Corp. and Desjardins Securities
Inc.
About
Ninepoint Partners LPBased in Toronto, Ninepoint Partners
manages unique alternative investment solutions that offer
investors the benefits of better diversification. We target
investment strategies that are uncorrelated from traditional asset
classes, such as equities and bonds, with the goal of lowering
overall portfolio risk.
As a team, we have a long track-record of
managing alternative income, real asset and alternative core
strategies. Innovative thinking, and our ability to apply it to
real-world solutions, is what defines us.
Ninepoint is an independent, employee-owned firm
serving the investment advisor and institutional investor
communities. With over $6 billion in assets and institutional
contracts and 75 employees, we are among the largest independent
asset management firms in Canada.
For more information on Ninepoint Partners LP,
please visit www.ninepoint.com or for 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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