TORONTO, May 6, 2013 /CNW/ - Pathway Mining 2011 Inc., general partner of Pathway Mining 2011 Flow-Through Limited Partnership (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) on a tax-deferred basis to the Mutual Fund Corporation in exchange for shares of the Mutual Fund Corporation of the series designated as Mutual Fund Shares, Explorer Series, A/Rollover Series ("Explorer Class Shares") effective April 30, 2013, at a value of $1.6738 per unit that was originally sold for $10.00.
An investment in limited partnership units ("Units") of the Partnership were exchanged on a tax-deferred basis for Explorer Series Fund A/Rollover Series Class Shares ("Explorer Class Shares") with equal value pursuant to an arrangement between the Partnership and the Mutual Fund Corporation. The Limited Partners received 1.1683 Explorer Class Shares of the Mutual Fund Corporation for each Unit held, based on a net asset value per Unit of $1.6738 and a net asset value per share of $1.4327 for each Explorer Class Share.
The Partnership had net assets of $7,491,518 at the time of the transfer. The capital gains tax liability that would arise upon disposition can be deferred by retaining the shares of the Mutual Fund Corporation.
SOURCE: PATHWAY MINING 2011 INC.
For further information:
Information on the Mutual Fund Corporation can be obtained by visiting the website www.marquest.ca or by contacting the General Partner by e-mail at email@example.com, by telephone at (416) 777-7350, toll-free at 1 (877) 777-1541, or by facsimile at (416) 777-7362.