TORONTO, Feb. 10, 2012 /CNW/ - The AlphaNorth 2012 Flow-Through Limited
Partnership (the "Partnership") is pleased to announce that it has
completed its first closing on February 9, 2012, raising a total of
$7,706,500 in respect of its offering of 770,650 limited partnership
units at a price per unit of $10.00. The Partnership anticipates completing a second closing on or about
March 1, 2012.
Investment Objective of the Partnership
The Partnership's investment objective is to provide for a tax-assisted
investment in a diversified portfolio of flow-through shares and other
securities, if any, of resource companies with a view to maximizing tax
benefits and achieving capital appreciation for its limited partners.
The Partnership's focus is on resource companies whose principal
business will be (i) mineral exploration, development and production,
(ii) oil and gas exploration, development and production, or (iii)
certain energy production that may incur start-up phase costs of
renewable energy projects. AlphaNorth GP Inc., the general partner of
the Partnership, expects investors to receive a tax deduction for the
2012 taxation year equal to approximately 102% of the amount invested
and 118% over a two year period (assuming the Minimum Offering and
based upon other assumptions set forth in the Partnership's prospectus
in respect of the offering).
Manager and Portfolio advisor
The Partnership has retained AlphaNorth Asset Management (the "Manager")
to provide investment, management, administrative and other services.
The Manager currently provides management services to AlphaNorth
Partners Fund Inc., a long biased, small cap hedge fund focusing
primarily on Canadian companies, including resource companies. The
Manager, led by Chief Executive Officer, Steven Palmer, will provide
investment advisory and portfolio management services to the
Partnership and will direct the day-to-day business operation and
affairs of the Partnership. The Manager also manages the AlphaNorth
2011 Flow-Through Limited Partnership, the AlphaNorth Rollover Fund and
the AlphaNorth Growth Fund.
The offering is being made through a syndicate of agents led by
Canaccord Genuity Corp., GMP Securities L.P. and National Bank
Financial Ltd., and includes Scotia Capital Inc., Macquarie Capital
Markets Canada Ltd., Raymond James Ltd., Mackie Research Capital
Corporation, Queensbury Securities Inc., Dundee Securities Ltd.,
Desjardins Securities Inc., MGI Securities Inc., and Union Securities
This offering is only made by prospectus. The prospectus contains
important detailed information about the securities being offered and
has been filed with securities commissions or similar authorities in
all provinces of Canada, except Quebec. Copies of the prospectus may be
obtained from one of the agents noted above. Investors should read the
prospectus before making an investment decision.
SOURCE AlphaNorth Asset Management
For further information:
For more information please contact your advisor. You may also visit our website at www.alphanorthasset.com or contact Skye Collyer, Vice President, Sales and Marketing at 416-506-0776 (ext. 227) or email@example.com