TORONTO, Feb. 1, 2012 /CNW/ - AlphaNorth Asset Management is pleased to announce that AlphaNorth 2012 Flow-Through Limited Partnership (the "Partnership") has filed a final prospectus in connection with its initial public offering of limited partnership units to raise aggregate gross proceeds of up to $25 million.
The price per unit is $10.00 with a minimum subscription of 250 units ($2,500).
The initial closing is expected to occur on or about February 9, 2012. This is AlphaNorth's third flow-through limited partnership offering.
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 and other securities, if any, of resource companies with a view to maximizing tax benefits and achieving capital appreciation for its limited partners. The Partnership's focus is on resource companies whose principal business will be (i) mineral exploration, development and production, (ii) oil and gas exploration, development and production, or (iii) certain energy production that may incur start-up phase costs of renewable energy projects.
Manager and Portfolio advisor:
The Partnership has retained AlphaNorth Asset Management (the "Manager") to provide investment, management, administrative and other services. The Manager currently provides management services to AlphaNorth Partners Fund Inc., a long biased, small cap hedge fund focusing primarily on Canadian companies, including resource companies. The Manager, led by Chief Investment Officer, Steven Palmer, will provide investment advisory and portfolio management services to the Partnership and will direct the day-to-day business operation and affairs of the Partnership. The Manager also manages the AlphaNorth 2011 Flow-Through Limited Partnership, the AlphaNorth Rollover Fund and the AlphaNorth Growth Fund.
The offering is being made through a syndicate of agents led by Canaccord Genuity Corp., GMP Securities L.P. and National Bank Financial Ltd., and includes Scotia Capital Inc., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Mackie Research Capital Corporation, Queensbury Securities Inc., Dundee Securities Ltd., Desjardins Securities Inc., MGI Securities Inc. and Union Securities Ltd.
A prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in all provinces of Canada, except Quebec. Copies of the prospectus may be obtained from one of the agents noted above. Investors should read the prospectus before making an investment decision.
For further information:
please contact Skye Collyer, Vice President, Sales and Marketing at (416) 506-0776 (ext 227) or [email protected].