Ninepoint Partners Announces Ninepoint 2020 Flow-Through Limited Partnership
December 16 2019 - 4:36PM
Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the
Ninepoint 2020 Flow-Through Limited Partnership (the "Partnership")
has filed a preliminary 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).
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. Sprott
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
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., CIBC World Markets Inc., TD Securities Inc., National Bank
Financial Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., GMP
Securities L.P., 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.
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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