Creststreet files preliminary prospectus for 2008 flow-through fund

    TORONTO, Jan. 11 /CNW/ - Creststreet is pleased to announce that it has
filed a preliminary prospectus for the initial public offering of units of
Creststreet 2008 Limited Partnership. The offering has been set at a maximum
of $50 million. Net proceeds of the offering will be invested in flow-through
shares of resource companies engaged in oil, natural gas, renewable energy and
mining exploration and development in Canada. Creststreet expects investors to
receive tax deductions equal to 100% of the amount invested for the 2008
taxation year.
    Creststreet will invest in flow-through shares that: (i) represent good
value in relation to the market price and intrinsic value of the resource
company's shares; (ii) have experienced and capable management teams; (iii)
have a strong exploration or development program or renewable energy project
in place; and (iv) offer the potential for future growth.
    The offering is being made through a syndicate of investment dealers led
by Scotia Capital Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc.,
and includes National Bank Financial Inc., TD Securities Inc., HSBC Securities
(Canada) Inc., Canaccord Capital Corporation, GMP Securities L.P., Peters &
Co. Limited, Raymond James Ltd., Macquarie Capital Markets Canada Ltd. and
Tristone Capital Inc.

    About Creststreet

    Creststreet is an investment management firm specializing in structuring
and managing high quality energy focused investment products for Canadian and
international institutional and high net worth investors. Since its inception
in 2000, Creststreet has raised over $970 million for investment in resource
and renewable energy companies.

For further information:

For further information: Grant Bunker, Vice-President, Business
Development, Creststreet Asset Management Limited, Tel: (416) 628-2161,

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