TORONTO, September 21, 2020 – Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the Ninepoint 2020 Short Duration Flow-Through Limited Partnership (the “Partnership”) has completed the first and final closing in connection with its offering of Class A and Class F limited partnership units (the “Units”) pursuant to a prospectus dated September 14, 2020. The Partnership issued 1,000,000 units for gross proceeds of $25,000,000. The Units are being offered at a price per Unit of $25.00 with a minimum subscription of 100 Units ($2,500). The Partnership intends to provide liquidity to limited partners through a rollover to the Ninepoint Resource Class in the period between January 15, 2022 and February 28, 2022.
Ninepoint is Canada’s leading investment firm at providing Flow-Through Funds in Canada. Since its inception in 2017, Nineopoint has successfully raised more Flow-Through Fund capital than any other asset manager in Canada. “We are pleased with another successful Flow-Through Fund raise, and with being able to hit our maximum capacity for the Partnership in a short period of time” said James Fox, Managing Partner at Ninepoint.
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 Asset Management LP (“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., Richardson GMP Limited, Industrial Alliance Securities Inc., Manulife Securities Incorporated, Raymond James Ltd., Canaccord Genuity Corp. and Desjardins Securities Inc.
About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets & Alternative Income.
Ninepoint is an operating company that has been created to assume portfolio management of the Canadian diversified assets of Sprott, including actively managed hedge and mutual funds.
About Sprott Asset Management LP
Sprott is a wholly-owned subsidiary of Sprott Inc., an alternative asset manager and a global leader in precious metal and real asset investments. Through its subsidiaries in Canada, the US and Asia, Sprott Inc. is dedicated to providing investors with best-in-class investment strategies that include Exchange Listed Products, Managed Equities, Lending and Brokerage. Sprott Inc.’s common shares are listed on the New York Stock Exchange under the symbol (NYSE: SII) and on the Toronto Stock Exchange under the symbol (TSX:SII). For more information, please visit www.sprott.com.