Sprott 2017-II Flow-Through Limited Partnership Announces Completion of Rollover Transaction
TORONTO, Feb. 06, 2019 (GLOBE NEWSWIRE) — Sprott 2017-II 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 Ninepoint Resource Class (the “Resource Fund”) of Ninepoint Corporate Class Inc. on February 4, 2019, as discussed in the Partnership’s press release of November 26, 2018. The Partnership was subsequently dissolved on February 6, 2019.
1,780,040 Series F shares of the Resource Fund (“Fund Shares”) were issued at their net asset value of $6.7558 per Fund Share. The final net asset value per Partnership unit for purposes of the Mutual Fund Rollover Transaction was $12.7580 per Partnership unit. Accordingly, each holder of Partnership units will receive 1.8885 Fund Shares for each Partnership unit held. The adjusted cost base for each Partnership unit was $7.8878 per Partnership unit and the adjusted cost base for each allocated Fund Share was $4.1769 per Fund Share. The after-tax return was -3.26% for an Ontario investor taxed at the highest marginal rate.
For investors looking for another tax-advantaged investment, Ninepoint Partners LP has filed and received a receipt for a final prospectus dated January 29, 2019 offering units of a new flow-through limited partnership, Ninepoint 2019 Flow-Through Limited Partnership. The prospectus contains important detailed information about the securities being offered. Investors should read the prospectus before making an investment decision.
The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be, the rendering or tax, legal, accounting or professional advice. Readers should consult with their own accountants and/or lawyers for advice on the specific circumstances before taking any action.
Additional information: The prospectus for the Resource Fund is available at www.ninepoint.com, through a broker or by calling Ninepoint Partners LP at 1-866-299-9906. Information about the Ninepoint 2019 Flow-Through Limited Partnership is available through the dealers or by contacting us directly at 1-866-299-9906 or [email protected].
About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $2.5 billion in assets under management. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets & Alternative Income.
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.
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 General Partner’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 General Partner, 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 General Partner, 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.