TORONTO, April 26 /CNW/ - Mackenzie Financial Corporation ("Mackenzie Investments") is pleased to announce that MSP 2010 Resource Limited Partnership (the "Partnership") has completed the second closing of its initial public offering of limited partnership units. The Partnership issued 167,904 limited partnership units at a price of $25.00 each for gross proceeds of $4,197,600. Including the first closing, the total amount raised by the Partnership is $11,712,100.
The Partnership's investment objectives are to maximize total return for limited partners and to provide significant tax benefits for limited partners by investing in flow-through shares and in other securities of resource issuers. The Partnership's portfolio is expected to consist primarily of securities of resource issuers involved in oil and gas exploration and development and, to a lesser extent, securities of resource issuers involved in mining exploration and development or other energy production. MSP 2010 GP Inc., the general partner of the Partnership and a wholly-owned subsidiary of Mackenzie Investments, expects limited partners to receive tax deductions equal to 100% of the gross proceeds of the offering for the 2010 taxation year.
Fred Sturm, Executive Vice-President of Mackenzie Investments and Benoit Gervais, Vice-President of Mackenzie Investments, will lead a team of professionals providing investment advisory and portfolio management services to the Partnership. Mr. Sturm and Mr. Gervais currently manage MSP 2009 Resource Limited Partnership, and were the portfolio managers for all of the Mackenzie and MSP resource limited partnerships offered between 2004 and 2008.
Mackenzie Investments was founded in 1967 and is a leading investment management firm providing investment advisory and related services. With $64.9 billion in assets under management as of March 31, 2010, Mackenzie Investments distributes its services through a diversified network of third-party financial advisors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with over $123 billion in total assets under management as of March 31, 2010.
The offering was made through a syndicate of agents co-led by CIBC World Markets Inc., BMO Capital Markets and RBC Capital Markets and including National Bank Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., Dundee Securities Corporation, Macquarie Capital Markets Canada Ltd., Canaccord Financial Ltd., M Partners Inc., Manulife Securities Incorporated, Raymond James Ltd., Wellington West Capital Markets Inc. and Desjardins Securities Inc.
To learn more, contact your financial advisor or visit the MSP website at www.mackenziefinancial.com/msp.
SOURCE Mackenzie Financial Corporation
For further information: For further information: Trish Tervit, Environics Communications Inc., (416) 969-2809, email@example.com