MSP 2008 Resource Limited Partnership raises $22 million through initial public offering

    TORONTO, Feb. 25 /CNW/ - MSP 2008 GP Inc. is pleased to announce that MSP
2008 Resource Limited Partnership (the "Partnership") has completed the first
closing of its initial public offering of limited partnership units. The
Partnership issued 866,860 limited partnership units at a price of $25.00 each
for gross proceeds of $21,671,500. The maximum amount of the offering is $50
million and the offering remains open to investors.
    The Partnership's investment objectives are to maximize total return for
limited partners, and to provide significant tax benefits for limited
partners, through investments in flow-through shares of resource issuers
engaged primarily in oil and gas or mining exploration and development or
renewable energy production. MSP 2008 GP Inc., the general partner of the
Partnership, expects limited partners to receive tax deductions equal to 100%
of the gross proceeds of the offering for the 2008 taxation year.
    The Partnership intends to achieve these objectives by investing in a
diversified portfolio comprised primarily of flow-through shares of resource
issuers, so that limited partners will be entitled to claim certain deductions
for income tax purposes for the 2008 taxation year. The Partnership may also
hold warrants or other securities of resource issuers, and cash and/or cash
    Fred Sturm, Executive Vice-President of Mackenzie Financial Corporation
and Benoit Gervais, Vice-President of Mackenzie Financial Corporation, will
lead a team of professionals providing investment advisory and portfolio
management services to the Partnership. Mr. Sturm and Mr. Gervais currently
manage MSP 2007 Resource Limited Partnership and MSP 2006 Resource Limited
Partnership, and were the portfolio managers for MSP 2005 Resource Limited
Partnership and Mackenzie 2004 Resource Limited Partnership, partnerships with
investment objectives and strategies substantially similar to those of the

    MSP 2008 GP Inc. is a wholly-owned subsidiary of Mackenzie Financial
Corporation, a part of IGM Financial Inc. (TSX:IGM) and a member of the Power
Financial Corporation group of companies and the manager of the Partnership.
Mackenzie, founded in 1967, manages approximately $60.2 billion of assets for
more than one million investors.
    The offering is being made through a syndicate of agents co-led by CIBC
World Markets Inc. and RBC Capital Markets and including BMO Capital Markets,
National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., HSBC
Securities (Canada) Inc., Canaccord Capital Corporation, Dundee Securities
Corporation, Raymond James Ltd., Berkshire Securities Inc., Blackmont Capital
Inc., Desjardins Securities Inc., IPC Securities Corporation, Richardson
Partners Financial Limited and Wellington West Capital Inc.
    To learn more, contact your financial advisor or visit the MSP website at

For further information:

For further information: Catharine Marion, Environics Communications
Inc., (416) 969-2809,

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890