Ninepoint Partners Announces Ninepoint 2021 Flow-Through Limited Partnership
December 15 2020 - 2:43PM
Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the
Ninepoint 2021 Flow-Through Limited Partnership (the “Partnership”)
has filed a preliminary prospectus (the “Prospectus”) in connection
with its offering of limited partnership units of the National
Class and the Québec Class (together, the “Units”). A receipt for
the preliminary prospectus has been issued by the securities
regulatory authorities in each of the provinces and territories of
Canada. The Units are being offered at a price per Unit of $25.00
with a minimum subscription of 100 Units ($2,500).
Ninepoint is a leading manager of Flow-Through
Funds in Canada. Since its inception in 2017, Ninepoint has
successfully raised more Flow-Through Fund capital than any other
asset manager in Canada. “Flow-Through Funds help provide much
needed capital to companies exploring for resources in Canada,”
said James Fox, Co-CEO and Managing Partner at Ninepoint.
“Furthermore, they provide an effective time-tested tax planning
strategy to Canadian investors. We are thrilled to stand behind
such unique strategies that benefit their portfolios.”
The Partnership intends to provide liquidity to
limited partners through a roll-over to the Ninepoint Resource
Class in the period between January 15, 2023 and February 28,
2023.
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 (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 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 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
portfolios 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., Richardson Wealth Limited, 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 LP is one of
Canada’s leading alternative investment management firms overseeing
approximately $7 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 including Alternative Income and Real
Assets, in addition to North American and Global Equities.
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 a wholly-owned subsidiary of Sprott
Inc., an alternative asset manager and a global leader in precious
metal and real asset investments. Through its subsidiaries in
Canada, the US and Asia, Sprott Inc. is dedicated to providing
investors with specialized investment strategies that include
Exchange Listed Products, Managed Equities, Lending and Brokerage.
Sprott Inc.’s common shares are listed on the New York Stock
Exchange under the symbol (NYSE: SII) and 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.
A
preliminary
prospectus
containing
important
information
relating
to
these
securities
has
been
filed
with
securities
commissions
or
similar
authorities
in all
the
provinces
and
territories of
Canada. The
preliminary
prospectus
is
still
subject
to
completion
or
amendment.
Copies
of
the
preliminary
prospectus
may be
obtained
from one
of the dealers noted
above.
There
will
not
be any
sale
or any
acceptance
of an
offer
to buy
the
securities
until
a
receipt
for
the
final
prospectus
has
been
issued.
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