TORONTO - NCE Resources Group is pleased to announce that NCE Diversified Flow-Through (05) Limited Partnership completed an initial close on February 24, 2005, raising gross proceeds of $54,919,175 and issuing 2,196,767 units.
Final Close - The final close for the Partnership is scheduled to occur on or about March 29, 2005. The maximum offering of the Partnership is $200,000,000.
Flow-Through Shares - The Partnership has been created for the purpose of investing in flow-through shares of certain resource companies. It is intended that all proceeds available for investment will be allocated by the Partnership approximately equally between resource companies engaged in oil and gas exploration (including resource issuers involved in renewable energy exploration and development) development and/or production, and resource companies engaged in mining exploration, development and/or production. 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 of resource companies by December 31, 2005.
Objective of the Partnership The objective of the Partnership is to achieve capital appreciation according to the investment strategies as detailed in the prospectus and to maximize the tax benefits received by investors.
Tax Benefits - Investors will be eligible to receive substantial tax benefits through participation in the Partnership, including an approximately 100% deduction in 2005 of the amount of their investment based on completion of the maximum offering and on certain other assumptions set forth in the prospectus.
Offering Prices - The price per unit is $25.00 with a minimum subscription of 200 units ($5,000).
Management - The general partner of the Partnership 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 $2.0 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 approximately 400 oil and gas industry participants.
Investment Advisor and Industry Advisor - The general partner has retained Sentry Select Capital Corp. to select potential investments and to provide advice on and manage the investment portfolio of the Partnership. Sentry Select is a wealth management company with current total assets under management of approximately $4 billion, including more than $1.2 billion in energy sector related investments. The general partner has also retained Schachter Asset Management Ltd., a Canadian investment management firm, to provide it with general oil and gas industry advice.
Agents - The Agents on the offering are National Bank Financial Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, Raymond James Ltd., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Berkshire Securities Inc., Desjardins Securities Inc., First Associates Investments Inc., Jory Capital Inc., Richardson Partners Financial Ltd. and Wellington West Capital Inc.More Information - Investor Services for broker/investor inquiries or Brian McOstrich for media inquiries. Tel: 1-888-246-6656 Fax: 416-364-1197 email@example.com www.sentryselect.com
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