Norrep Performance 2008 Flow-Through Limited Partnership Raises $14,852,000 in First Closing



    CALGARY, Feb. 21 /CNW/ -

    
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    Calgary               Norrep 2008 Management Inc. announced today that
                          Norrep Performance 2008 Flow-Through Limited
                          Partnership completed the first closing of its
                          initial public offering of limited
                          partnership units.

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    Total gross proceeds  On February 21, 2008, Norrep Performance 2008
                          Flow-Through Limited Partnership issued 1,485,200
                          limited partnership units at $10.00 per unit for
                          gross proceeds of $14,852,000. The maximum amount
                          of the offering is $60,000,000 and the offering
                          remains open to investors.

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    Flow-through shares   Norrep Performance 2008 Flow-Through Limited
                          Partnership has been organized to invest in flow-
                          through shares of resource companies, with the
                          objective of achieving capital appreciation for
                          limited partners.

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    Management            Management of Norrep 2008 Management Inc., the
                          general partner, has managed or manages nine other
                          flow-through limited partnerships that were formed
                          to invest in flow-through shares of resource
                          companies. Including Norrep Performance 2008 Flow-
                          Through Limited Partnership, these partnerships
                          have raised total gross proceeds of $399,580,000.

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    Agents                The offering was led by BMO Capital Markets and
                          included CIBC World Markets Inc., Richardson
                          Partners Financial Limited, TD Securities Inc.,
                          Blackmont Capital Inc., Canaccord Capital
                          Corporation, FirstEnergy Capital Corp.,
                          GMP Securities L.P., Macquarie Capital Markets
                          Canada Ltd. and Wellington West Capital Inc.

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For further information:

For further information: Norrep 2008 Management Inc., Suite 175,
601-10th Avenue S.W., Calgary, AB, T2R 0B2, Contact Steve Smith -
steve@hesperiancapital.com, or Randy Oliver, randy@hesperiancapital.com,
Website: www.hesperiancapital.com

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NORREP PERFORMANCE 2008 FLOW-THROUGH LIMITED

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