TORONTO, ONTARIO--(Marketwire - Dec. 23, 2009) - NCE Resources Group is pleased to announce that a preliminary prospectus for a new flow-through investment, NCE Diversified Flow-Through (10) Limited Partnership (the "Partnership"), has been filed with, and the receipt issued by, the securities commissions and regulatory authorities in each of the provinces and territories of Canada.
The Partnership has been created for the purpose of investing in flow-through shares of resource issuers engaged in oil and gas exploration, development and/or production, or mineral exploration, development and/or production and, to a lesser extent and subject to certain limitations, resource issuers involved in renewable energy exploration and development. The actual allocation of the Partnership's investment portfolio will be determined based on the investment opportunities available at the time of investment. The Partnership will endeavour to invest all proceeds available for investment in flow-through shares on or before December 31, 2010.
Objective of the Partnership
The objective of the Partnership is to achieve capital appreciation and to maximize the tax benefits received by investors.
Investors will be eligible to receive tax benefits through participation in the Partnership, including an approximately 100% deduction in 2010 of the amount of their investment based on completion of the maximum offering and on certain other assumptions as set forth in the prospectus.
The price per unit is $25.00 with a minimum subscription of 200 units ($5,000).
Manager and Portfolio advisor
The general partner, NCE Diversified Flow-Through (10) Corp. (the "General Partner") will retain Sentry Select Capital Inc. (the ''Manager'' or ''Sentry Select'') as the Manager of the Partnership, to direct the business, operations and affairs of the Partnership and provide day-to-day management services to the Partnership on behalf of the General Partner, including, without limitation, the provision of advice on and the management of the investment portfolio of the Partnership.
The General Partner is a corporation incorporated under the laws of the Province of Ontario. The General partner is a member of the 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, the 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 issuers, and has entered into drilling, joint venture and other similar arrangements with oil and gas industry participants.
The syndicate of agents, co-led by RBC Dominion Securities and CIBC World Markets Inc., includes BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Scotia Capital Inc., Canaccord Financial Ltd., Dundee Securities Corporation, Raymond James Ltd., Blackmont Capital Inc., Manulife Securities Incorporated, Burgeonvest Bick Securities Limited, Desjardins Securities Inc., Industrial Alliance Securities Inc., Jory Capital Inc., Laurentian Bank Securities Inc., M Partners Inc., Research Capital Corporation and Wellington West Capital Markets Inc..
Sentry Select Capital Inc.
Sentry Select Capital Inc. is a Canadian wealth management company that offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.
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 that they relate to the Partnership. The forward-looking statements are not historical facts but reflect the General Partner's and Sentry Select'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 and Sentry Select 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. Neither the General Partner nor Sentry Select 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.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in all the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from one of the dealers noted above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
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 (www.sedar.com).