TORONTO, February 7, 2020 – Ninepoint 2018 Flow-Through Limited Partnership (the “Partnership”), announced today that it had completed the tax-deferred transfer of the assets of the Partnership (the “Mutual Fund Rollover Transaction”) into Ninepoint Resource Class (the “Resource Fund”) of Ninepoint Corporate Class Inc. on February 3, 2020, as discussed in the Partnership’s press release of November 15, 2019.
5,390,428 Series F shares of the Resource Fund (“Fund Shares”) were issued at their net asset value of $5.8082 per Fund Share. The final net asset value per Partnership unit for purposes of the Mutual Fund Rollover Transaction was $13.3423 per Partnership unit. Accordingly, each holder of Partnership units will receive 2.2971 Fund Shares for each Partnership unit held. The adjusted cost base for each Partnership unit was $6.4140 per Partnership unit and the adjusted cost base for each allocated Fund Share was $2.7922 per Fund Share. The after-tax return was -0.19% for an Ontario investor taxed at the highest marginal rate.
For investors looking for another tax-advantaged investment, Ninepoint Partners LP has filed and received a receipt for a final prospectus dated January 31, 2020 offering limited partnership units of the National Class and the Quebec Class of a new flow-through limited partnership, Ninepoint 2020 Flow-Through Limited Partnership. The prospectus contains important detailed information about the securities being offered. Investors should read the prospectus before making an investment decision.
The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be, the rendering or tax, legal, accounting or professional advice. Readers should consult with their own accountants and/or lawyers for advice on the specific circumstances before taking any action.
Additional information: The prospectus for the Resource Fund is available at www.ninepoint.com, through a broker or by contacting us at (866) 299-9906 or firstname.lastname@example.org. Information about the Ninepoint 2020 Flow-Through Limited Partnership is available through the dealers or by contacting us at (866) 299-9906 or email@example.com.
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.