TORONTO, Feb. 20, 2014 /CNW/ - Marquest 2013-1 Mining Super Flow-Through Limited Partnership (National and Québec Classes) (the "Partnership"), and Marquest Mutual Funds Inc. (the "Mutual Fund Corporation") announce that the Partnership has completed the transfer and sale (the "Rollover Transaction") of all its assets excluding cash (all cash in excess of funds required to meet existing liabilities was distributed to limited partners on February 14, 2014) to the Mutual Fund Corporation on February 14, 2014, in exchange for Mutual Fund Corporation - Explorer Series Fund, Mutual Fund Shares: A/Rollover Series (MIN001) (the "Mutual Fund Shares"). As part of the wind-up and dissolution of the Partnership, the Mutual Fund Shares were distributed to limited partners of record as of February 14, 2014 on a pro rata basis.
Limited partners of the Partnership's National Class received 7.2426 Mutual Fund Shares (issued at the February 14, 2014 net asset value per Mutual Fund Share of $0.9846) for each limited partnership unit, based on a net asset value of $7.1310 per unit of the Partnership's National Class.
Limited partners of the Partnership's Québec Class received 7.7241 Mutual Fund Shares (issued at the February 14, 2014 net asset value per Mutual Fund Share of $0.9846) for each limited partnership unit, based on a net asset value of $7.6051 per unit of the Partnership's Québec Class.
The capital gains tax liability that would arise upon disposition can be deferred by retaining the Mutual Fund Shares.
SOURCE: MARQUEST FT INC. in its capacity as the General Partner of MQ 2013-1 SD Limited Partnership, general partner of the Partnership
SOURCE: Marquest Asset Management Inc.
For further information:
Information on the Mutual Fund Corporation can be obtained by visiting the website www.marquest.ca or by e-mail at [email protected], by telephone at (416) 777-7350, toll-free at 1 (888) 964-3533, or by facsimile at (416) 777-7362.