TORONTO, March 1 /CNW/ - Creststreet Asset Management Limited today
announced that, in accordance with long established term limits for its
independent directors, Larry J. Macdonald has resigned as an independent board
member on Creststreet's oil and gas limited partnerships and mutual fund board
of directors, effective today.
"As a board member with Creststreet since the company's inception, Mr.
Macdonald has made an immense contribution to Creststreet and the very strong
governance practices we have embraced since the outset" said Robert J. Toole,
Managing Director of Creststreet Asset Management Limited. "On behalf of
Creststreet and all our investors, I wish to thank Mr. Macdonald for the very
fine wisdom and guidance he has provided over the years."
Mr. Macdonald was a member of the board and the audit committee for each
of Creststreet 2007 Limited Partnership, Creststreet 2006 (II) Limited
Partnership, Creststreet 2006 Limited Partnership and Creststreet Mutual Funds
Creststreet is in the process of identifying a suitable independent
director to replace Mr. Macdonald. In the interim Mr. Toole will step in as a
member of the audit committee. Mr. Toole is a member of the Canadian Institute
of Chartered Accountants and the founder of Creststreet Capital Corporation.
Creststreet is an investment management firm specializing in structuring
and managing high quality energy focused investment products for Canadian and
international institutional and high net worth investors. Since its inception
in 2000, Creststreet has raised over $750 million for investment in resource
and renewable energy companies.
For further information:
For further information: Grant Bunker, VP Business Development,
Creststreet Capital Corporation, Tel: (416) 628-2161, E-mail: