Ninepoint Partners Announces Closing of Maximum $25M (Upsized from original $20M) Offering of the Ninepoint 2020 Short Durati...
September 21 2020 - 11:45AM
Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the
Ninepoint 2020 Short Duration Flow-Through Limited Partnership (the
“Partnership”) has completed the first and final closing in
connection with its offering of Class A and Class F limited
partnership units (the “Units”) pursuant to a prospectus dated
September 14, 2020. The Partnership issued 1,000,000 units for
gross proceeds of $25,000,000. The Units are being offered at a
price per Unit of $25.00 with a minimum subscription of 100 Units
($2,500). 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.
Ninepoint is Canada’s leading investment firm at
providing Flow-Through Funds in Canada. Since its inception in
2017, Nineopoint has successfully raised more Flow-Through Fund
capital than any other asset manager in Canada. “We are pleased
with another successful Flow-Through Fund raise, and with being
able to hit our maximum capacity for the Partnership in a short
period of time” said James Fox, Managing Partner at Ninepoint.
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 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
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., Richardson GMP 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 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, 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 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 best-in-class 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 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.
Sprott (TSX:SII)
Historical Stock Chart
From Aug 2024 to Sep 2024
Sprott (TSX:SII)
Historical Stock Chart
From Sep 2023 to Sep 2024