Ninepoint Partners Announces Second Closing of Ninepoint 2022 Flow-Through Limited Partnership
March 22 2022 - 3:20PM
Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the
Ninepoint 2022 Flow-Through Limited Partnership (the “Partnership”)
has completed the second closing in connection with its offering of
limited partnership units of the National Class and the Québec
Class (together, the “Units”) pursuant to a prospectus dated
January 21, 2022. The Partnership raised $13,250,000 on the sale of
an additional 481,580 National Class Units and 48,420 Quebec Class
Units for aggregate gross proceeds of $61,775,350. The Partnership
will have a third and final closing in respect of the Units on or
about April 7, 2022, books will close at noon on or about April 6,
2022. The Units are being offered at a subscription price of $25.00
per Unit with a minimum subscription of 100 Units ($2,500).
The Partnership intends to provide liquidity to
limited partners through a tax-deferred rollover to the Ninepoint
Resource Fund Class in the period between January 15, 2024 and
February 28, 2024.
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
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., iA Private Wealth Inc., Manulife Securities
Incorporated, Raymond James Ltd., Richardson Wealth Limited,
Canaccord Genuity Corp., Desjardins Securities Inc. and INFOR
Financial Inc.
About
Ninepoint Partners
LPBased in Toronto, Ninepoint
Partners LP is one of Canada’s leading alternative investment
management firms overseeing approximately $8 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.
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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