TORONTO, Jan. 31 /CNW/ - Creststreet today announced that it has filed a
final prospectus for the initial public offering of up to $100,000,000 of
Creststreet 2007 Limited Partnership units. Net proceeds of the offering will
be invested in flow-through shares of Canadian resource companies with a focus
on companies involved in natural gas exploration and development. Creststreet
expects investors to receive tax deductions equal to 100% of the amount
invested for the 2007 taxation year.
Closing of the offering has been scheduled for February 15, 2007.
The Partnership's objective is to preserve capital and generate capital
appreciation on its investments. Creststreet's investment strategy is to
invest in flow-through securities of resource companies that represent good
value in relation to the market price and intrinsic value of the shares, have
experienced and capable senior management, have a strong exploration or
development program and offer potential for future growth.
The offering is being made through a syndicate of investment dealers
co-led by Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc.
and RBC Dominion Securities Inc., and includes National Bank Financial Inc.,
TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada)
Inc., GMP Securities L.P., Orion Securities Inc., Peters & Co. Limited,
Raymond James 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 over $725 million for investment in resource
and renewable energy companies.
For further information:
For further information: Grant Bunker, VP Business Development,
Creststreet Asset Management, Tel: (416) 628-2161, E-mail: