Creststreet Provides Notice of Early Rollover of 2011 Flow-Through Limited Partnerships

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TORONTO, Oct. 4, 2012 /CNW/ - Creststreet 2011 Flow-Through Limited Partnership and Creststreet 2011 (II) Flow-Through Limited Partnership (the "Partnerships") have mailed notices to their unitholders that the general partner of the Partnerships has moved up the date upon which the Mutual Fund Rollover Transaction for the Partnerships will occur and the Partnerships will be dissolved (as described in each Partnership's prospectus) from on or about January 16, 2013 to on or about November 16, 2012.  These notices have been provided in accordance with the limited partnership agreements of each of the Partnerships. Shares of the Creststreet Resource Fund received by the Partnerships' unitholders upon the dissolution of the Partnerships will be redeemable on or after March 28, 2013.

On August 29, 2012, Creststreet Asset Management Limited ("Creststreet") and Brompton Funds Limited ("Brompton") announced that they had entered into an agreement for Brompton to acquire the rights to manage Creststreet's funds, including the Creststreet Resource Fund.   The transaction is expected to be completed on or about November 30, 2012 and is subject to the approval of Creststreet's public mutual fund shareholders at a meeting to be held on November 8, 2012, regulatory approvals and certain other terms and conditions.  It is expected that certain key Creststreet personnel will join Brompton at the time of closing to assist in the ongoing management and operations of the Creststreet funds.  Following the completion of the transaction, the Creststreet Resource Fund will change its name to the Brompton Resource Fund to reflect the change in management.

Creststreet will prepare the 2012 tax information packages for the Partnerships and send this important information to unitholders in the same familiar, timely and complete manner as in previous years.

Brompton is a leading and experienced Canadian fund manager which launched its first investment fund in 2002 and currently manages 12 closed-end and flow-through funds with over $1.2 billion in assets under management. Brompton is focused on meeting the needs of investors by offering innovative products with client friendly terms and supported by strong corporate governance.

Creststreet believes the long term interests of unitholders of the Partnerships will be well served by Brompton, a larger and more diversified investment fund and portfolio manager, assuming management of the Creststreet Resource Fund.
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Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to Creststreet, the Partnerships, Brompton, and the early rollover and dissolution of the Partnerships. The forward-looking statements are not historical facts but reflect Creststreet'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, including, but not limited to, the anticipated date of the rollover, receipt of requisite shareholder approvals for the change of manager, and the receipt of requisite regulatory approvals for the change of manager. Although Creststreet believes that 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. Creststreet undertakes no 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. For a complete disclosure record of the Partnerships, please visit their profiles at www.sedar.com.

SOURCE: Creststreet 2011 Flow-through Limited Partnership

For further information:

Robert Toole, Chief Executive Officer, Creststreet Asset Management Limited, [phone]; Mark Caranci, Chief Executive Officer, Brompton Funds Limited, [phone].