CALGARY, Jan. 29 /CNW/ - UTA Asset Management Corp. ("UTA"), the sub-advisor to Goodman & Company Investment Management Ltd., the manager (the "Manager") of CDR 2007 Private Flow-Through LP ("CDR 2007 LP"), CMP 2008 Resource Limited Partnership ("CMP 2008 LP") and Canada Dominion Resources 2008 Limited Partnership ("Canada Dominion 2008 LP"), announced today that they have filed an early warning report with the Canadian securities regulatory authorities confirming that UTA has disposed of all of its interest in 23,634,900 Class A Shares of Nexstar Energy Ltd. ("Nexstar"), representing 19.43% of the issued and outstanding Class A Shares of Nexstar. Upon such disposition, UTA does not hold any securities in the capital of Nexstar.
UTA, as sub-advisor to the Manager, may cause CDR 2007 LP, CMP 2008 LP and Canada Dominion 2008 LP to review the investments of these entities on a continuing basis and holdings may be increased or decreased from time to time.
UTA is a registered Portfolio Manager with the Alberta Securities Commission and has entered into a sub-advisory agreement (the "Sub-Advisory Agreement") with the Manager to manage certain assets of CDR 2007 LP, CMP 2008 LP and Canada Dominion 2008 LP. The Sub-Advisory Agreement grants UTA full discretion and authority to manage the oil and gas assets of these entities.
The 11,473,784 Class A Shares of Nexstar were disposed by UTA on the TSX Venture Exchange and the remaining 12,161,116 Class A Shares were rolled over into Dynamic Managed Portfolios Ltd., an open-ended mutual fund corporation pursuant to the terms of a transfer agreement dated January 24, 2008.
A copy of the report filed by UTA in connection with the acquisition, as required under applicable securities legislation may be obtained by contacting UTA at (403) 531-2655. UTA Asset Management Corp. is a Calgary-based investment firm with over $139 million in assets under management.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Certain information contained in this press release, including information and statements which may contain words such as "could", "plans", "should", "anticipates", "expects", "believes", "will" and similar expressions and statements relating to matters that are not historical facts, are forward-looking statements.
These forward-looking statements are based on a number of risks and assumptions, some of which are beyond management's control, including the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. By their nature, forward-looking statements are subject to numerous risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, actual results may differ materially from those predicted. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements contained in this press release.
Readers are cautioned that the foregoing list of important factors is not exhaustive. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise, and as such, undue reliance should not be placed on forward-looking statements. These statements speak only as of the date of this press release. Unless required by law, UTA does not undertake any intention or obligation or update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
SOURCE UTA ASSET MANAGEMENT CORP.
For further information: For further information: Paige Knight, Vice President, UTA Asset Management Corp., Suite 1700, 444 - 5th Avenue S.W., Calgary, AB, T2P 2T8, (403) 531-2655, firstname.lastname@example.org