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DISSEMINATION IN THE UNITED STATES./
TORONTO, Feb. 28 /CNW/ - Creststreet is pleased to announce today that it
has completed the initial closing for its initial public offering of units of
Creststreet 2008 Limited Partnership. The available funds from the offering
will be invested in flow-through shares of resource companies engaged in oil,
natural gas, renewable energy and mining exploration and development in
Canada. Creststreet expects investors to receive tax deductions equal to 100%
of the amount invested for the 2008 taxation year.
Creststreet will invest in flow-through shares that: (i) represent good
value in relation to the market price and intrinsic value of the resource
company's shares; (ii) have experienced and capable management teams; (iii)
have a strong exploration or development program or renewable energy project
in place; and (iv) offer the potential for future growth.
The offering was made through a syndicate of investment dealers led by
Scotia Capital Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc., and
includes National Bank Financial Inc., TD Securities Inc., HSBC Securities
(Canada) Inc., Canaccord Capital Corporation, GMP Securities L.P., Peters &
Co. Limited, Raymond James Ltd., Macquarie Capital Markets Canada Ltd. and
Tristone Capital Inc.
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 $970 million for investment in resource and
renewable energy companies.
For further information:
For further information: Grant Bunker, Vice-President, Business
Development, Creststreet Asset Management Limited, Tel: (416) 628-2161,