Ninepoint Partners Announces First Closing of Ninepoint 2020 Flow-Through Limited Partnership
TORONTO, Feb. 12, 2020 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the Ninepoint 2020 Flow-Through Limited Partnership (the “Partnership”) has completed the first closing in connection with its offering of limited partnership units of the National Class and the Quebec Class (together, the “Units”) pursuant to a prospectus dated January 31, 2020. The Partnership issued 464,552 National Class Units and 129,420 Quebec Class Units for aggregate gross proceeds of $14,849,300. The Partnership will have a second closing in respect of the Units on or about March 10, 2020. The Units are being offered at a price per Unit of $25.00 with a minimum subscription of 100 Units ($2,500).
The Partnership has retained Sprott Asset Management LP (“Sprott”) to act as sub-advisor to the Partnership. The Partnership intends to provide liquidity to limited partners through a rollover to the Ninepoint Resource Class in the period between January 15, 2022 and February 28, 2022.Investment Objective of the Partnership
The Partnership’s investment objective is to achieve capital appreciation and significant tax benefits for Limited Partners by investing in a diversified portfolio of Flow-Through Shares and other securities, if any, of Resource Issuers. Investments made with the proceeds from the National Class Units will be made in Resource Issuers across Canada and investments made with the proceeds from the Québec Class Units will be made in Resource Issuers carrying out activities primarily in the Province of Québec.Attractive Tax-Reduction Benefits
Flow-through partnerships are one of the most effective tax reduction strategies available to Canadians. Ninepoint anticipates that investors participating in the Partnership will be eligible to receive a tax deduction of approximately 100% of the amount invested.Resource Expertise
The Partnership will be sub-advised by Sprott, one of Canada’s leading investment advisors in small and mid- cap resource companies. Over its long history of investing in the resource sector, Sprott has developed relationships with hundreds of companies. Its experienced team of portfolio managers is supported by a team of technical experts with extensive backgrounds in mining and geology.Portfolio manager Jason Mayer will manage the portfolio of the Partnership and will be supported by Sprott’s broader team of experienced resource investment professionals.Agents
The offering is being made through a syndicate of agents led by RBC Dominion Securities Inc, which includes CIBC World Markets Inc., TD Securities Inc., National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Stifel Nicolaus Canada Inc., Industrial Alliance Securities Inc., Manulife Securities Incorporated, Raymond James Ltd., Canaccord Genuity Corp. and Desjardins Securities Inc. About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners manages unique alternative investment solutions that offer investors the benefits of better diversification. We target investment strategies that are uncorrelated from traditional asset classes, such as equities and bonds, with the goal of lowering overall portfolio risk.As a team, we have a long track-record of managing alternative income, real asset and alternative core strategies. Innovative thinking, and our ability to apply it to real-world solutions, is what defines us.Ninepoint is an independent, employee-owned firm serving the investment advisor and institutional investor communities. With over $6 billion in assets and institutional contracts and 75 employees, we are among the largest independent asset management firms in Canada.For more information on Ninepoint Partners LP, please visit www.ninepoint.com or for inquiries regarding the offering, please contact us at (416) 943-6707 or (866) 299-9906 or [email protected]About Sprott Asset Management LP
Sprott is an alternative asset manager and a global leader in precious metal and real asset investments. Sprott is a subsidiary of Sprott Inc. (the “Corporation”). Through its subsidiaries in Canada, the US and Asia, the Corporation is dedicated to providing investors with best-in-class investment strategies that include Exchange Listed Products, Alternative Asset Management and Private Resource Investments. The Corporation also operates Merchant Banking and Brokerage businesses in both Canada and the US. Sprott is based in Toronto with offices in New York, Carlsbad and Vancouver and its common shares are listed on the Toronto Stock Exchange under the symbol (TSX: SII). For more information, please visit www.sprott.com.Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expects”, “intends”, “anticipates”, “will” and similar expressions to the extent that they relate to the Partnership. The forward-looking statements are not historical facts but reflect the Partnership’s, Ninepoint’s and Sprott’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Partnership, Ninepoint and Sprott believe the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Partnership, nor Ninepoint or Sprott undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.This offering is only made by prospectus. The Partnership’s prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your IIROC registered financial advisor. Investors should read the prospectus before making an investment decision.