Maple Leaf Short Duration 2010 Flow-Through Limited Partnership: Notice of Mutual Fund Rollover Transaction-October 21, 2011
October 14 2011 - 2:46PM
Marketwired Canada
MUTUAL FUND ROLLOVER TRANSACTION
Maple Leaf Short Duration 2010 Flow-Through Limited Partnership (the
"Partnership", CUSIP # 56531A107) announces that it will be proceeding with a
transaction (the "Liquidity Transaction") pursuant to which the assets of the
Partnership (the "Assets") will be transferred, at the close of business on
October 21st, to the Maple Leaf Resource Class Mutual Fund (the "Mutual Fund"
and or "CDO100") of Maple Leaf Corporate Funds Ltd., an open-ended mutual fund
corporation, in exchange for Resource Class - Series A shares of the Mutual
Fund.
The transfer will be on a tax deferred exchange basis and no capital gains tax
is payable on the transaction. Investors can elect to hold their Mutual Fund
shares for long term growth and capital appreciation switch tax-deferred into
the Maple Leaf Income Class shares or redeem their shares. Investors may have a
capital gain when the Mutual Fund shares are redeemed.
The rollover to the Mutual Fund provides investors with the ability to redeem
and obtain immediate liquidity. Alternatively, investors diversify their
investments through maintaining ownership of Mutual Fund shares in the either
the Resource Class or the Income Class shares, while deferring capital gains.
There will be no fees charged on either the rollover to the Mutual Fund or on
redemption of the Mutual Fund shares.
Once the Mutual Fund shares that the Partnership will receive as consideration
for the transfer of the Assets are distributed to the Limited Partners, the
Partnership will be dissolved.
The general partner of the Partnership (the "General Partner") will be
implementing the Liquidity Transaction in accordance with the limited
partnership agreement (the "Partnership Agreement") that governs the
Partnership. The Liquidity Transaction has been mutually agreed to by the
General Partner and the Mutual Fund and joint elections will be made to effect
the transfer on a tax-deferred basis.
Summary Information of the Rollover Transaction
-- Maple Leaf Short Duration 2010 Flow-Through Limited Partnership units
(CUSIP # 56531A107).
-- The Conversion Ratio to the Mutual Fund shares (CDO100) will be
determined based on the Net Asset Value per unit of the Partnership and
the Net Asset Value per Mutual Fund share, each as determined at the
close of business on October 21st, 2011. A ratio will be established
such that each Partner will receive a proportionate number of Mutual
Fund shares (rounded down), the total value of which is equivalent,
based on the Net Asset Value per Mutual Fund share, to the total market
value of their units of the Partnership, based on the Net Asset Value
per unit of the Partnership.
-- ACB (adjusted cost base) for each unit of the Partnership and each share
of the Mutual Fund will be determined by the General Partner upon the
wind-up of the Partnership's affairs. The Partnership will dissolve
within 60 days of the Rollover Transaction. The General Partner will
communicate the finalized details at that time. Partners should consult
with their Investment Advisor and/or tax advisor for all tax-related
matters.
Important Notes:
1. Redemptions of the Mutual Fund shares ARE NOT subject to a 30 day short
term trading fee.
2. There may be delays (administrative and/or processing) between the
rollover date, being October 21st, 2011, and the date the Mutual Fund
shares show in client accounts.
3. Transactions including redemptions and switches may only be executed
once the dealer has processed the rollover and the Mutual Fund shares
show in investor's accounts.
The Partnership, Maple Leaf Corporate Funds Ltd nor the Mutual Fund will accept
any liability for transactions that are either executed or fail to be executed
due to processing delays or prior to dealer records being updated.
THE PARTNERSHIP AND THE MUTUAL FUND
Maple Leaf Short Duration 2010 Flow-Through Limited Partnership
The Partnership was established to provide Limited Partners with a tax-assisted
investment in a diversified portfolio of flow-through shares of resource
companies with a view to achieving capital appreciation for Limited Partners.
The principal business of the resource companies was oil and gas exploration,
development and/or production and mining exploration, development and/or
production.
Investors received tax deductions for 2010 of approximately 100% of the amount
of their investment.
Maple Leaf Corporate Funds Ltd.
The Mutual Fund is a mutual fund corporation authorized to issue an unlimited
number of separate classes of which the Maple Leaf Resource Class of shares is
one. Each class of mutual fund shares is a separate mutual fund. The
Corporation's articles permit it to issue an unlimited number of mutual fund
shares in each class in one or more series. The Corporation currently offers
series A shares of the Maple Leaf Resource Class and series A shares of the
Maple Leaf Income Class. The Corporation may, without notice to, or approval
from, the existing shareholders of the Fund, create new mutual funds by
distributing these classes of mutual fund shares to the public.
Specific Information about the Mutual Fund
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Organization and Management of the Mutual Fund
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Manager: CADO Investment Fund Management Inc. is
CADO Investment Fund Management Inc. the manager of the Mutual Fund and is
609 Granville Street, Suite 808 responsible for managing the overall
Vancouver, BC V7Y 1G5 business and operations of the Mutual
Tel: 604-684-5742 Fund.
Fax: 604-684-5748
Toll free: 1-866-688-5750
www.mapleleaffunds.ca
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Portfolio Advisor: The Manager has retained TIP as
T.I.P. Wealth Manager Inc. ("TIP") portfolio advisor to provide investment
Toronto, Ontario advice for the Mutual Fund.
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Custodian: The custodian has physical custody of
RBC Dexia Investor Services Trust the Mutual Fund's property.
Toronto, Ontario
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Registrar: The registrar keeps track of the owners
RBC Dexia Investor Services Trust of shares of the Mutual Fund and
Toronto, Ontario processes purchases.
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Auditors: The auditors are responsible for
PricewaterhouseCoopers LLP auditing the annual financial
Vancouver, BC statements of the Mutual Fund. The
auditors of the Mutual Fund may not be
changed unless the independent review
committee of the Mutual Fund has
approved the change and a written
notice describing the change is sent to
unit holders at least 60 days before
the effective date of the change.
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Independent Review Committee Canadian securities legislation
(the "IRC") requires the Mutual Fund to have an
IRC. The IRC is composed of three
members, each of whom is independent of
us. The mandate of the IRC is to
review, and provide input on, our
written policies and procedures that
deal with conflict of interest matters
in respect of the Mutual Fund and to
give their recommendation regarding
and, in some cases, approve, conflict
of interest matters identified and
referred to the IRC by us. The IRC will
prepare, at least annually, a report of
its activities for investors. This
report will be available at our website
at www.mapleleaffunds.ca or you may
request a copy, at no cost to you, by
contacting us at info@cadobancorp.ca.
Additional information about the IRC,
including the names of the members, is
available in the Mutual Fund's Annual
Information Form.
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Investment Objective & Strategies of the Mutual Fund
The investment objective of the Mutual Fund is to maximize capital appreciation
by investing in equity securities of natural resource companies and companies
that support resource companies.
The Mutual Fund's portfolio will consist primarily of investments which generate
capital gains, but will also include investments which generate income. The
Mutual Fund may hold significant cash, cash equivalents or fixed income
positions pending investment or when the Portfolio Advisor considers it
desirable. The Mutual Fund may use derivatives for hedging or non-hedging
purposes.
The Portfolio Advisor will make investments in securities which it believes are
undervalued based on its research. These will include, in particular, securities
of issuers with improving fundamentals such as growing revenues and earnings,
strong balance sheets and solid management, capital structure and business
franchises.
The Mutual Fund may take positions in other securities, such as convertible
securities, high-yield debt securities and derivative instruments based on such
securities, invest in foreign companies listed on major stock exchanges or
exchange traded funds that provide magnified positive or inverse exposure to the
foregoing.
Commissions, trailing commissions, management fees and expenses all may be
associated with mutual fund investments. Mutual Funds are not guaranteed, their
values change frequently, and past performance may not be repeated. Please read
the prospectus before investing.
Portfolio Advisor
T.I.P. Wealth Manager Inc. ("TIP") will be responsible for the Mutual Fund's
investment activities. Mr. Jim Huang, the President of T.I.P., will act as
Portfolio Manager on behalf of TIP. Mr. Huang has over 16 years of experience
investing in the Canadian capital markets. As lead or co-manager while working
at NATCAN (formerly Altamira), Mr. Huang has managed or co-managed over $2
billion in mutual funds and institutional assets, including all of the resource
and equity income products in the Altamira and National Bank mutual fund
families. Altamira Energy Fund, Altamira Resource Fund, Altamira Precious and
Strategic Metals Fund and AltaFund (a Canadian Equity fund focusing on Western
Canada) had industry-leading performance and won awards and positive press
coverage during Mr. Huang's management. Currently, Mr. Huang is the manager for
the T.I.P. Opportunities Fund, a long/short North American equity hedge fund, as
well as being the lead manager for the Maple Leaf Short Duration Flow-Through
Funds, the Maple Leaf Corporate Funds Ltd. family of mutual funds and a small
cap equity mutual fund.
Regulatory Approvals
Completion of the Liquidity Transaction is subject to the receipt of all
necessary regulatory approvals and other closing conditions.
Additional Information
Additional information about the Mutual Fund will be available in the Mutual
Fund's simplified prospectus, annual information form, management reports of
fund performance and financial statements. You can obtain a copy of these
documents at your request and at no cost by calling toll free 1-866-688-5750, or
from your financial advisor, or by e-mailing info@cadobancorp.ca, or at
www.mapleleaffunds.ca.
These documents and other information about the Mutual Fund, such as information
circulars and material contracts, will also be available at SEDAR (the System
for Electronic Document Analysis and Retrieval established by the Canadian
Securities Administrators) at www.sedar.com.
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