TORONTO, Jan. 9, 2012 /CNW/ - Sprott Asset Management LP ("Sprott") is pleased to announce that the Sprott 2012 Flow-Through
Limited Partnership (the "Partnership") has filed a preliminary
prospectus in connection with its offering of limited partnership
units. Receipt for the preliminary prospectus has been issued by the
securities commissions and regulatory authorities in each of the
provinces and territories of Canada.
Investment Objective of the Partnership
The Partnership's investment objective is to provide for a tax-assisted
investment in a diversified portfolio of flow-through shares of
resource issuers with a view to achieving capital appreciation and
significant tax benefits for the Limited Partners.
Attractive Tax-Reduction Benefits
Flow-through partnerships are one of the most effective tax reduction
strategies that remain available to Canadians. Sprott anticipates that
investors participating in the Partnership will be eligible to receive
a tax deduction in 2012 that is 100% of the amount invested in the
Partnership, based on certain assumptions as set forth in the
The Partnership will be managed by Sprott, an independent asset
management company that is dedicated to achieving superior returns for
its clients over the long term. Portfolio managers Allan Jacobs, Eric
Nuttall and Jamie Horvat will co-manage the Partnership and will be
supported by Eric Sprott, Charles Oliver, Rick Rule and Paul Wong.
As at September 30, 2011, Sprott had an estimated $9.1 billion in assets
under management in various mutual funds and hedge funds, including
approximately $8.0 billion dedicated to investments in natural
resources. Sprott specializes in investing in small and mid-cap stocks
and has a team of leading investment managers who think independently
and act on their convictions.
The offering is being made through a syndicate of agents led by RBC
Capital Markets and including CIBC, TD Securities Inc., BMO Capital
Markets, National Bank Financial Inc., Canaccord Genuity Corp., GMP
Securities L.P., Dundee Securities Ltd., Scotia Capital Inc.,
Desjardins Securities Inc., Macquarie Private Wealth Inc., Manulife
Securities, Raymond James Ltd. and Sprott Private Wealth LP.
The Partnership is now available for investment. The price per unit is
$25.00 with a minimum subscription of 200 units ($5,000).
Certain statements included in this news release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions ''expect,'' ''intend,'' "will" and
similar expressions to the extent that they relate to the Partnership.
The forward-looking statements are not historical facts but reflect the
General Partner's and Sprott's current expectations regarding future
results or events. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results or
events to differ materially from current expectations. Although the
General Partner and Sprott believe that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements
are not guarantees of future performance and, accordingly, readers are
cautioned not to place undue reliance on such statements due to the
inherent uncertainty therein. Neither the General Partner nor Sprott
undertake any obligation to update publicly or otherwise revise any
forward-looking statement or information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law.
A preliminary prospectus containing important information relating to
these securities has been filed with securities commissions or similar
authorities in all the provinces and territories of Canada. The
preliminary prospectus is still subject to completion or amendment.
Copies of the preliminary prospectus may be obtained from one of the
dealers noted above. There will not be any sale or any acceptance of an
offer to buy the securities until a receipt for the final prospectus
has been issued.
SOURCE Sprott Asset Management LP
For further information:
on Sprott Asset Management,please visit www.sprott.com or contact us at (416) 362-7172 or 866 299-9906 or firstname.lastname@example.org