TORONTO: NCE Resources Group is pleased to announce that NCE Diversified Flow-Through (07) Limited Partnership (the “Partnership”) closed its offering on February 22, 2007, raising gross proceeds of $198,221,025 and issuing 7,928,841 units.
The Partnership: The Partnership has been created for the purpose of investing in flow-through shares of resource issuers engaged either in oil and gas exploration, development and/or production, or mineral exploration, development and/or production; or to a lesser extent, resource issuers involved in renewable energy exploration and development which qualify for Canadian renewable and conservation expenses. 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, 2007.
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: Investors will be eligible to receive tax benefits through participation in the Partnership, including an approximately 100% deduction in 2007 of the amount of their investment based on completion of the maximum offering and on certain other assumptions as set forth in the prospectus.
Investment 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 Capital Corp. is a wealth management company providing investment, administrative and marketing services to 35 exchange-listed closed-end funds and corporations (including preferred securities and debentures), 22 principal-protected notes, 16 mutual funds and four flow-through limited partnerships. As of December 31, 2006, the firm had approximately $8 billion in gross assets under management.
Management: The general partner is a corporation formed 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 $3 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.
Agents: The syndicate of agents co-led by CIBC World Markets Inc. and RBC Capital Markets included: BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Scotia Capital Inc., Berkshire Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Blackmont Capital Inc., Desjardins Securities Inc., IPC Securities Corporation, Jory Capital Inc., Research Capital Corporation and Wellington West Capital Inc.
More information: Investor Services (broker/investor inquiries) or Kinga Lam (media inquiries) Tel: 1-888-246-6656 Fax: 416-364-1197 email@example.com www.sentryselect.com
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