TORONTO, ONTARIO--(Marketwire - Mar 27, 2013) - Stone 2013 Flow‐Through GP Inc. is pleased to announce that it completed its first closing of the initial public offering of Stone 2013 Flow‐Through Limited Partnership (the "Partnership") on March 20, 2013, raising gross proceeds of $5.2 million representing 208,000 units of the Partnership, at $25 per Unit.
The Partnership will invest primarily in flow‐through shares of resource issuers engaged in oil and gas and mineral exploration in Canada with a view to the preservation of capital and achieving capital appreciation of the Partnership's investments. Stone Asset Management Limited will act as portfolio manager to the Partnership and will, prior to December 31, 2013, endeavour to invest all proceeds available for investment primarily in flow‐through shares of resource issuers that will agree to incur Canadian Exploration Expense ("CEE") in carrying out exploration in Canada and renounce CEE to the Partnership. Limited Partners with sufficient income may be entitled to claim certain deductions from income and non‐refundable investment tax credits where available, for income tax purposes for the 2013 taxation year.
The offering is made by a syndicate of agents co‐led by CIBC and National Bank Financial and includes BMO Capital Markets, Canaccord Genuity Corp., Scotiabank, TD Securities, GMP Securities L.P., Macquarie Private Wealth Inc., Raymond James Ltd., Burgeonvest Bick Securities Limited, Industrial Alliance Securities Inc., Mackie Research Capital Corporation and All Group Financial Services Inc.
This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from one of the dealers listed above. Investors should read the prospectus before making an investment decision.
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- Limited Partnership