TORONTO, March 23, 2023 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the Ninepoint 2023 Flow-Through Limited Partnership (the “Partnership”) has completed the second closing in connection with its offering of Class A and Class F limited partnership Units (the “Units”) pursuant to a prospectus dated January 30, 2023. The Partnership raised $11,377,775 on the sale of an additional 455,111 units for aggregate gross proceeds of $28,319,625. The Partnership will have a third and final closing in respect of the Units on or about April 20, 2023. 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, 2025 and February 28, 2025.
Investment Objective of the Partnership
The 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 Units will be made in Resource Issuers across Canada.
Attractive Tax–Reduction Benefits
Flow-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 Expertise
The 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…
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