CGE Resources 2010 L.P. Announces its initial closing

POINTE-CLAIRE, QC, June 23 /CNW Telbec/ - CGE Resources 2010 L.P. ('CGE' or the 'Partnership') is pleased to announce its initial closing of the sale of limited partnership units.

The gross proceeds raised were $2,218,450. A second closing of the Offering is expected to occur on or about July 15th, 2010.

The Partnership will primarily invest in flow-through shares of resource issuers engaged primarily in mineral exploration, and, secondarily, in oil and gas exploration, principally in the Province of Québec, with a view to maximizing the tax benefit of an investment in the Units, and achieving capital appreciation. The funds of the Partnership will be invested in a manner so that limited partners will be entitled to claim certain tax deductions for income tax purposes during the 2010 taxation year.

The Offering was conducted by a syndicate of Agents led by Desjardins Securities Inc. which included Industrial Alliance Securities Inc., Laurentian Bank Securities Inc. and Mackie Research Capital Corporation.

Headquartered in Pointe-Claire (Montreal) with an office in Québec City, CGE General Partner I Inc. manages the Partnership. Since 2006, it has actively managed through affiliates diversified flow-through share portfolios, mainly with assets from resource exploration companies operating in Québec.

For further information, please contact our Customer Service Center at 1-866-987-1455 or visit our website at www.cgeresources.com.

SOURCE CGE RESOURCES L.P.

For further information: For further information: Me Éloïse Gagnon, LL.M. Fisc., President, CGE General Partner I inc., (514) 987-1455, 1-866-987-1455; Clément C. Gagnon, MBA, Director, CGE General Partner I inc., (514) 987-1455, 1-866-987-1455

Organization Profile

CGE RESOURCES L.P.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890