/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Dec. 30 /CNW Telbec/ - Mr. Jean-Guy Masse, President of Northern Precious Metals Management Inc., is pleased to announce that Northern Precious Metals 2010 Limited Partnership (the "Partnership") completed the fourth and last closing of its initial public offering on December 23, 2010. The second and third closing occurred last December 2, 2010 and December 14, 2010.
The total number of limited partnership units issued under the fourth closing was 721 at $1,000 per unit. An aggregate number of 3,379 limited partnership units were issued in the course of the 2010 Offering resulting in total proceeds of $3,379,000. The 2010 Offering is the eighth consecutive year in which Northern Precious Metals Management has closed a flow-through share limited partnership.
The proceeds of the offering will be invested in flow-through shares of Canadian, primarily gold mining companies. Limited Partners will be entitled to claim certain deductions from income and investment tax credits for the 2010 taxation year.
The Partnership's investment objective is to provide limited partners with a tax-assisted investment in a portfolio of flow-through shares of primarily gold mining companies with a view to achieving capital appreciation for limited partners.
Secutor Capital Management Corporation and Industrial Alliance Securities Inc. are acting as agents for the offering. The Partnership units are offered for sale to the public in all the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec pursuant to a prospectus dated November 4, 2010 and can be purchased through any Investment Dealer in those provinces. A copy of the Final Prospectus can be found at www.sedar.com.
This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This offering is made by prospectus only and copies thereof may be obtained from Secutor Capital Management Corporation or Industrial Alliance Securities Inc.
For further information: For further information:
Secutor Capital Management Corporation: Mr. Frank Jacobs (416) 545-1015
Industrial Alliance Securities Inc.: Pierre-Francois Roy (514) 499-0224