TORONTO--(BUSINESS WIRE)--Marquest 2017-I Mining Super Flow-Through Limited Partnership (the “Partnership”) is pleased to announce that it has filed a final prospectus (the “Prospectus”) dated April 19, 2017 with the securities commissions or similar authorities in each of the provinces and territories of Canada. The initial closing of the offering is expected to occur on or about April 28, 2017.
National Class The investment objectives of the National Class portfolio are to preserve capital, achieve capital appreciation and to provide holders of National Class units with a tax-assisted investment in a diversified portfolio of flow-through shares issued by resource issuers engaged in mineral exploration and development in Canada that will incur “Canadian exploration expenses” (“CEE”). Investors in National Class units are expected to receive tax deductions for 2017 of up to approximately 100% of the amount invested plus potential further reductions in tax otherwise payable through federal investment tax credits, based on and subject to certain conditions as set forth in the Prospectus.
Québec Class The investment objectives of the Québec Class portfolio are to preserve capital, achieve capital appreciation, and to provide holders of Québec Class units with a tax-assisted investment in a diversified portfolio of flow-through shares issued by resource issuers engaged in mineral exploration and development primarily in the Province of Québec that will incur CEE. Investors in Québec Class units are expected to receive tax deductions for 2017 of up to approximately 120% of the amount invested plus potential further reductions in tax otherwise payable through federal investment tax credits, based on and subject to certain conditions as set forth in the Prospectus.
Each portfolio’s investment strategy is to invest in flow-through shares that: (a) represent good value in relation to the market price and intrinsic value of the shares of a resource issuer; (b) are issued by resource issuers that have experienced and capable senior management; (c) have a strong exploration or development program; and (d) offer potential for future growth.
Mutual Fund Rollover Transaction On or before February 15, 2018, and in any case no later than February 15, 2019, the General Partner intends to transfer the assets in the National Class portfolio and the Québec Class portfolio to the Mutual Fund (as defined in the Prospectus) in exchange for shares of the Mutual Fund.
The syndicate of agents for the offering is being led by National Bank Financial Inc. and CIBC World Markets, and includes Scotiabank, BMO Capital Markets, RBC Capital Markets, TD Securities Inc., Desjardins Securities Inc., Industrial Alliance Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Manulife Securities Incorporated, Echelon Wealth Partners Inc. and Laurentian Bank Securities Inc.
Certain statements included in this news release constitute forward-looking statements that relate to the Partnership. Forward-looking statements in this news release include statements regarding the eligibility for and receipt of tax benefits by investors through investment in the Partnership. The forward-looking statements are not historical facts but reflect the current expectations of MQ 2017-I SD Limited Partnership (the “General Partner”) and Marquest 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 Marquest 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 Marquest 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. For a complete disclosure record of the Partnership, please visit www.sedar.com.
The offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from one of the dealers noted above. Investors should read the prospectus before making an investment decision.
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