Ninepoint Partners Announces Third and Final Closing of Ninepoint 2020 Flow-through Limited Partnership
April 15 2020 - 01:49PM
Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the
Ninepoint 2020 Flow-Through Limited Partnership (the “Partnership”)
has completed the third and final closing in connection with its
offering of limited partnership units of the National Class
(“National Class Units”) and the Quebec Class (“Quebec Class
Units”, together with the National Class Units, the “Units”)
pursuant to a prospectus dated January 31, 2020. The
Partnership raised $1,945,300 on the sale of an additional 62,412
National Class Units and 15,400 Quebec Class Units for aggregate
gross proceeds of $25,130,000. The Units are being offered at
a price per Unit of $25.00 with a minimum subscription of 100 Units
($2,500).
The Partnership 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.
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,
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., Stifel Nicolaus Canada Inc., 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 $6 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.
For more information on Ninepoint Partners LP, please
visit www.ninepoint.com or 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.
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