Ninepoint Partners Announces Final Closing of Over $43 Million for Ninepoint 2024 Short Duration Flow-Through Limited Partnership
25 Abril 2024 - 10:53AM
Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the
Ninepoint 2024 Short Duration 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 and the Québec Class (together, the “Units”)
pursuant to a prospectus dated January 30, 2024. The Partnership
raised $17,566,000 on the sale of an additional 678,390 National
Class Units and 24,250 Québec Class Units for aggregate gross
proceeds of $43,216,075. 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 roll-over to the Ninepoint Resource Fund
Class on or before June 30, 2025 with such liquidity event not
expected to occur before February 2025.
Ninepoint is a leading manager of Flow-Through
Funds in Canada. Since its inception in 2017, Ninepoint has
successfully raised more Flow-Through Fund capital than any other
asset manager in Canada. Flow Through strategies continue to
provide an effective time-tested tax planning strategy to Canadian
investors and have delivered strong after-tax returns.
Investment
Objective
of
the
PartnershipThe
Partnership’s investment objective for each of the National
Portfolio and the Québec Portfolio 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). For National
Portfolio, the Partnership will invest in Resource Issuers carrying
out activities across Canada, while, for the Québec Portfolio, the
Partnership will invest 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 Wealth Inc., Raymond
James Ltd., Richardson Wealth Limited, Canaccord Genuity Corp.,
Desjardins Securities Inc. and Echelon Wealth Partners 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 spanning Equities, Fixed Income,
Alternative Income, Real Assets, F/X and Digital Assets.
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.
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 one of the dealers noted above.
Investors should read the prospectus before making an investment
decision.