TORONTO, Jan. 28, 2015 /CNW/ - Sprott 2013 Flow-Through Limited Partnership (the "Partnership") announced today that it had completed the tax-deferred transfer of the assets of the Partnership (the "Mutual Fund Rollover Transaction") into Sprott Resource Class (the "Resource Fund") of Sprott Corporate Class Inc. on January 26, 2015.
1,254,032 Series A shares of the Resource Fund ("Fund Shares") were issued at their net asset value of $5.6863 per Fund Share. The final net asset value per Partnership unit for purposes of the Mutual Fund Rollover Transaction was $18.4123 per Partnership unit, which represents an after-tax return of 22.54% over the life of the Partnership(1). Accordingly, each holder of Partnership units will receive 3.2380 Fund Shares for each Partnership unit held. The adjusted cost base for each Partnership unit was $17.90 per Partnership unit and the adjusted cost base for each allocated Fund Share was $5.53 per Fund Share.
For investors looking for another tax-advantaged investment, Sprott has filed a preliminary prospectus dated December 29, 2014 offering units of a new flow-through limited partnership, Sprott 2015 Flow-Through Limited Partnership. This limited-time offering is expected to provide investors with a 100% tax deduction for their investment. Information about the Sprott 2015 Flow-Through Limited Partnership is available through a syndicate of underwriters or by contacting us directly at 1-866-299-9906 or [email protected]. A copy of the preliminary prospectus for Sprott 2015 Flow-Through Limited Partnership can be found under Sprott 2015 Flow-Through Limited Partnership's SEDAR profile at www.sedar.com. The preliminary prospectus is still subject to completion or amendment. There will not be any sale or any acceptance of an offer to buy the securities offered by Sprott 2015 Flow-Through Limited Partnership until a receipt for the final prospectus has been issued.
Additional information: The prospectus for the Resource Fund is available at www.sprott.com, through a broker or by calling Sprott Asset Management LP at 1-866-299-9906. Information about the Sprott 2015 Flow-Through Limited Partnership is available through the dealers or by contacting us directly at 1-866-299-9906 or [email protected]. A copy of the final prospectus for the Sprott 2015 Flow-Through Limited Partnership can be found at www.sprott.com or under Sprott 2015 Flow-Through Limited Partnership's SEDAR profile at www.sedar.com.
Sprott Asset Management LP is a leading independent asset management company headquartered in Toronto, Canada. The company manages the Sprott family of mutual funds, hedge funds, physical bullion funds, specialty products and discretionary managed accounts. Sprott is dedicated to achieving superior returns for its investors over the long term. To learn more, please visit us at www.sprott.com.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of the relevant Fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein does not constitute an offer or solicitation to anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors should consult their financial advisor to determine if such Funds may be sold in their jurisdiction.
Please be advised that your individual circumstances may result in an adjusted cost base per unit that is different from what is outlined above. You are advised to obtain professional tax advice on your individual circumstances.
(1) Return is unaudited and is based on the assumption of highest marginal tax rate in Ontario and disposition at January 26, 2015 net asset value.
SOURCE Sprott 2013 Flow-Through Limited Partnership