TORONTO, October 18, 2019 – Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the Ninepoint 2019 Short Duration Flow-Through Limited Partnership (the “Partnership”) has completed the second and final closing in connection with its offering of limited partnership units (the “Units”) pursuant to a prospectus dated September 26, 2019. The Partnership raised $5,251,500 on the sale of an additional 210,060 units for aggregate gross proceeds of $14,691,425. The Units are being offered at a price per Unit of $25.00 with a minimum subscription of 100 Units ($2,500).
The Partnership has retained Sprott Asset Management LP (“Sprott”) to act as sub-advisor to the Partnership. The Partnership intends to provide liquidity to limited partners through a rollover to the Ninepoint Resource Class in the period between January 15, 2021 and February 28, 2021.
Investment Objective of the Partnership
The Partnership’s investment objective is to achieve capital appreciation and significant tax benefits for Limited Partners by investing in a diversified portfolio of Flow-Through Shares and other securities, if any, of Resource Issuers.
Attractive Tax-Reduction Benefits
Flow-through partnerships are one of the most effective tax reduction strategies available to Canadians. Ninepoint anticipates that investors participating in the Partnership will be eligible to receive a tax deduction of approximately 100% of the amount invested.
The Partnership will be sub-advised by Sprott, one of Canada’s leading investment advisors in small and mid- cap resource companies. Over its long history of investing in the resource sector, Sprott has developed relationships with hundreds of companies. Its experienced team of portfolio managers is supported by a team of technical experts with extensive backgrounds in mining and geology.
Portfolio manager Jason Mayer will manage the portfolio of the Partnership and will be supported by Sprott’s broader team of experienced resource investment professionals.
The offering is being made through a syndicate of agents led by RBC Dominion Securities Inc., which includes CIBC World Markets Inc., TD Securities Inc., National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., GMP Securities L.P., Industrial Alliance Securities Inc., Manulife Securities Incorporated, Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., and Echelon Wealth Partners Inc.
About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners manages unique alternative investment solutions that offer investors the benefits of better diversification. We target investment strategies that are uncorrelated from traditional asset classes, such as equities and bonds, with the goal of lowering overall portfolio risk.
As a team, we have a long track-record of managing alternative income, real asset and alternative core strategies. Innovative thinking, and our ability to apply it to real-world solutions, is what defines us.
Ninepoint is an independent, employee-owned firm serving the investment advisor and institutional investor communities. With over $6 billion in assets and institutional contracts and 75 employees, we are among the largest independent asset management firms in Canada.
About Sprott Asset Management LP
Sprott is an alternative asset manager and a global leader in precious metal and real asset investments. Sprott is a subsidiary of Sprott Inc. (the “Corporation”). Through its subsidiaries in Canada, the US and Asia, the Corporation is dedicated to providing investors with best-in-class investment strategies that include Exchange Listed Products, Alternative Asset Management and Private Resource Investments. The Corporation also operates Merchant Banking and Brokerage businesses in both Canada and the US. Sprott is based in Toronto with offices in New York, Carlsbad and Vancouver and its common shares are listed on the Toronto Stock Exchange under the symbol (TSX:SII). For more information, please visit www.sprott.com.