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