frontierAlt Energy 2006-II Flow-Through Limited Partnership & frontierAlt Resource Capital Class Fund - Rollover of Assets Completed



    
    /THIS PRESS RELEASE IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
    CONSTITUTE AN OFFER TO SELL OR A SOLICITATION TO BUY THE SECURITIES
    REFERRED TO HEREIN. THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE
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    TORONTO, Aug. 25 /CNW/ - Toronto-based frontierAlt Energy 2006-II Inc.,
the general partner of frontierAlt Energy 2006-II Flow-Through Limited
Partnership (the "Partnership"), and frontierAlt Capital Class Fund Limited
(the "Mutual Fund Corporation") announce that the Partnership has completed
the transfer and sale (the "Rollover Transaction") of all its assets on a
tax-deferred basis to the Mutual Fund Corporation in exchange for Series A
Shares of frontierAltResource Capital Class Fund (the "Resource Fund"), a
class of shares of the Mutual Fund Corporation, effective August 22, 2008.
    The Rollover Transaction was approved by the required majority of limited
partners of the Partnership (the "Limited Partners") at a special meeting of
the Partnership held on August 22, 2008.
    Limited partnership units ("Units") of the Partnership were exchanged on
a tax-deferred basis for shares of the Resource Fund with equal value pursuant
to a transfer agreement dated August 22, 2008 between the Partnership and the
Mutual Fund Corporation. The Limited Partners received 589,577.861 shares of
the Resource Fund for each Unit held, based on a net asset value per Unit of
$13.02 of the Partnership and a net asset value per share of $8.00 of the
Resource Fund.
    The Partnership had net assets of $4,714,513.24 at the time of the
transfer. The Partnership's original subscription price in 2006 was $25.00 per
Unit resulting in an after tax return of approximately -6%. The capital gains
tax liability that would arise upon disposition can be deferred by retaining
the shares of the Mutual Fund Corporation.

    Based in Toronto, frontierAlt Capital Corporation specializes in the
manufacturing and distribution of structured products, flow-through limited
partnerships and mutual funds.

    To view the documents of the Mutual Fund Corporation visit www.sedar.com.

    This news release contains certain "forward-looking statements". The
statements that are not historical facts contained in this press release are
forward-looking statements that involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking statements. There
can be no assurance that forward-looking statements will prove to be accurate,
as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.





For further information:

For further information: Asif Khan, Chairman & CEO, frontierAlt Capital
Corporation, (416) 623-3161, akhan@frontieralt.com; Kurankye Sekyi-Otu, EVP,
frontierAlt Capital Corporation, (416) 623-3171, ksekyiotu@frontieralt.com; Or
visit frontierAlt Capital Corporation's website at www.frontieralt.com

Organization Profile

FRONTIERALT ENERGY 2006-II FLOW-THROUGH LIMITED PARTNERSHIP

More on this organization

FRONTIERALT RESOURCE CAPITAL CLASS FUND

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