SPR & Co Announces First Closing of Sprott 2017-II Flow-Through Limited Partnership
September 12 2017 - 11:36AM
SPR & Co LP (“SPR”) is pleased to announce that the Sprott
2017-II 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 August 30, 2017. The Partnership issued 535,418 units for
gross proceeds of $13,385,450. The Partnership will have a second
and final closing in respect of the Units on or about October 3,
2017. The Units are being offered at a price per Unit of $25.00
with a minimum subscription of 200 Units ($5,000).
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 Sprott Resource Class prior to February
28, 2019.
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. SPR
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 Capital Markets,
which includes CIBC Capital Markets, TD Securities Inc. and Scotia
Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc.,
GMP Securities L.P., Manulife Securities Incorporated, Raymond
James Ltd., Canaccord Genuity Corp., Caldwell Securities Ltd.,
Desjardins Securities Inc., Echelon Wealth Partners Inc. and
Industrial Alliance Securities Inc.
About SPR & Co LPSPR &
Co LP is an expert active manager of specialty investment
solutions, committed to helping investors explore innovative ways
to manage portfolio risk, and advisors to differentiate their
businesses with unique investment solutions. Based in
Toronto, SPR & Co LP 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. The new firm oversees approximately $3
billion in assets under management.
Please visit www.sprlp.com to learn more.
About Sprott Asset Management
LPSprott is an alternative asset manager and a global
leader in precious metal and real asset investments. 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.sprottinc.com.
For more information on SPR & Co LP, please
visit www.sprlp.com or inquiries regarding the offering,
please contact us at (416) 943-6707 or (866) 299-9906 or
invest@sprlp.com.
“Sprott” is a registered trademark of Sprott
Inc. used under license.
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 General Partner’s, SPR’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 General
Partner, SPR 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 General Partner, nor SPR 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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