VANCOUVER, BC / Maple Leaf Short Duration 2014 Flow-Through Limited Partnership (the “Partnership") is pleased to announce that it completed the final closing of its public offering of National Class and Québec Class units. On the final closing, the Partnership issued 76,316 National Class Units and 150,512 Quebec Class Units at a price of $25 per unit, for gross proceeds of $5,670,700. In total, the Partnership issued 161,566 National Class units and 400,000 Quebec Class units at a price of $25.00 per unit for cumulative total gross proceeds of $14,039,150. —
Partnership Objectives & Benefits – National Class
The Partnership is designed to provide holders of its National Class Units (“National Class Limited Partners”) with an investment in a diversified portfolio of Flow-Through Shares of Resource Companies incurring Eligible Expenditures (as those terms are defined in the Prospectus) across Canada with a view to maximizing the tax benefits of an investment in National Class Units and achieving capital appreciation and/or income for National Class Limited Partners. National Class Limited Partners must be residents of Canada or liable to pay Canadian income tax.
Investors are expected to receive tax deductions for 2014 of approximately 100% of the amount invested based on and subject to certain conditions as set forth in the Prospectus.
Partnership Objectives & Benefits – Québec Class
The Partnership is designed to provide holders of its Québec Class Units (“Québec Class Limited Partners”) with an investment in a diversified portfolio of Flow-Through Shares of Resource Companies incurring Eligible Expenditures principally in the Province of Québec with a view to maximizing the tax benefits of an investment in Québec Class Units and achieving capital appreciation and/or income for Québec Class Limited Partners. Québec Class Units are most suitable for investors who reside in the Province Québec or are liable to pay income tax in Québec.
Investors are expected to receive tax deductions for 2014 of up to 150% of the amount invested based on and subject to certain conditions as set forth in the Prospectus.
The investment portfolios of both the National and Québec Class Units will be actively managed in such a way as to preserve the ability to undertake a future liquidity event, such as a rollover into a mutual fund corporation.
The syndicate of agents for the offering was co-led by Scotiabank and National Bank Financial Inc. and includes, BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Desjardins Securities Inc., Manulife Securities Incorporated, Burgeonvest Bick Securities Limited, Dundee Securities Ltd. and Mackie Research Capital Corporation. A copy of the Prospectus can be obtained from any agent.
Each of the provinces and territories of Canada.
FOR FURTHER INFORMATION, PLEASE CONTACT
Hugh Cartwright, Chairman
MAPLE LEAF SHORT DURATION 2014
FLOW-THROUGH MANAGEMENT CORP.
This press release contains forward-looking statements. These statements relate to future events or the Partnership’s future performance. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "project", "potential", "targeting", "intend", "could", "might", "continue" or the negative of these terms or other similar terms. Forward-looking statements in this press release include, but are not limited to tax deductions available to investors, objectives and benefits of the Units and the Partnership’s ability to undertake a future liquidity event. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. These include, but are not limited to, the risks of the business of the Partnership, changes in the global economy, general economic and business conditions, existing governmental regulations, supply, demand and other market factors specific to the resource sector and to the securities of Resource Companies, including those set out under “Risk Factors” in the Prospectus. Accordingly, investors are cautioned against placing undue reliance on these forward-looking statements. None of the Partnership, the General Partner, the Investment Manager, the Manager or the Agents undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by applicable laws. Capitalized terms not defined herein have the meanings set forth in the final prospectus (the “Prospectus”) dated January 29, 2014. Copies of the Prospectus may be obtained from one of the agents noted above.
Release ID: 38317