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NCE Diversified Flow-Through (09) Limited Partnership closes offering, raises $60 million

TORONTO: NCE Resources Group is pleased to announce that NCE Diversified Flow-Through (09) Limited Partnership (the “Partnership”) completed its third closing, raising $8,751,550. The Partnership raised total gross proceeds of $60,519,500 issuing 2,420,780 units.

Flow-through shares: The Partnership was created for the purpose of investing in flow-through shares of resource companies engaged in oil and gas exploration, development and/or production, mineral exploration, development and/or production and, to a lesser extent and subject to certain limitations, resource companies engaged in renewable energy exploration and development. The actual allocation of the Partnership’s investment portfolio will be determined based on the investment opportunities available during the investment period. The Partnership will endeavour to invest all proceeds available for investment by December 31, 2009.

Objective of the Partnership: The objective of the Partnership is to achieve capital appreciation and to maximize the tax benefits received by investors.

Tax benefits: It is expected that investors will be eligible to receive tax benefits through participation in the Partnership, including a potential deduction in 2009 of approximately 100% of the amount of their investment based on certain assumptions as set forth in the prospectus.

Offering price: The price per unit was $25.00 with a minimum subscription of 200 units ($5,000).

Management: NCE Diversified (09) Management Corp. (the “General Partner”) will manage the ongoing business and administrative affairs of the Partnership. The General Partner is a corporation formed under the laws of the Province of Ontario. The General Partner is a member of NCE Resources Group, which is an oil and gas investment management organization specializing in energy investments, and providing a full range of technical, operational, administrative and investor services. Since 1984, NCE Resources Group has invested or managed the investment of more than $4.1 billion in the acquisition, development and exploration of resource properties and securities of resource companies, and has entered into drilling, joint venture and other similar arrangements with oil and gas industry participants.

Investment Advisor: The General Partner has retained Sentry Select Capital Inc. (“Sentry Select”) to select potential investments and to provide advice on and manage the investment portfolio of the Partnership. Sentry Select is a Canadian wealth management company that offers a diverse range of investment products including closed-end funds, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.

Agents: The syndicate of agents, co-led by RBC Capital Markets and CIBC World Markets Inc., included BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Scotia Capital Inc., Canaccord Adams, HSBC Securities (Canada) Inc., Raymond James Ltd., Dundee Securities Corporation, GMP Securities L.P., Berkshire Securities Inc., Blackmont Capital Inc., Jory Capital Inc., Richardson Partners Financial Limited, Wellington West Capital Inc., Desjardins Securities Inc., IPC Securities Corporation, Laurentian Bank Securities Inc. and Research Capital Corporation.

More information: Investor Services (broker/investor inquiries)Tel: 1-888-730-4623 Fax: 416-364-1197Email:

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect,” “intend,” “will” and similar expressions to the extent they relate to the Partnership. The forward-looking statements are not historical facts but reflect NCE Resources Group’s and the General Partner’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 including, but not limited to, the Partnership’s intended investment mandate. Although NCE Resources Group and the General Partner believe that 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. NCE Resources Group and the General Partner undertake no 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.

Documents (including press releases) regarding the various investment funds that are managed or advised by Sentry are provided for information purposes only and cannot be relied on to be complete, exhaustive or error-free unless the complete set of documents for any given investment fund with respect to which information is being sought is reviewed and then only on SEDAR (