TORONTO, August 15, 2022 – Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the Ninepoint 2022 Short Duration Flow-Through Limited Partnership (the “Partnership”) has filed a preliminary prospectus (the “Prospectus”) in connection with its offering of limited partnership units (the “Units”). A receipt for the preliminary prospectus has been issued by the securities regulatory authorities in each of the provinces and territories of Canada. The Units are being offered at a price per Unit of $25.00 with a minimum subscription of 100 Units ($2,500).
Ninepoint is a leading manager of Flow-Through Funds in Canada. Since its inception in 2017, Ninepoint has successfully raised more Flow-Through Fund capital than any other asset manager in Canada.
The Partnership intends to provide liquidity to limited partners through a roll-over to the Ninepoint Resource Fund Class in the period between January 15, 2024 and February 28, 2024.
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 (as defined in the Prospectus) and other securities, if any, of Resource Issuers (as defined in the Prospectus). Investments made with the proceeds from the Units will be made in Resource Issuers across Canada.
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., iA Private Wealth Inc., Manulife Securities Incorporated, Raymond James Ltd., Richardson Wealth Limited, Canaccord Genuity Corp., Desjardins Securities Inc. and INFOR Financial Inc.
About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $8.4 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 Alternative Income and Real Assets, in addition to North American and Global Equities.
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 specialized 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 Toronto Stock Exchange under the symbol (TSX:SII). For more information, please visit www.sprott.com.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expects”, “intends”, “anticipates”, “will” and similar expressions to the extent that they relate to the Partnership. The forward-looking statements are not historical facts but reflect the Partnership’s, Ninepoint’s and Sprott’s current expectations 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 Partnership, Ninepoint and Sprott believe 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 Partnership, nor Ninepoint or Sprott 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.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in all the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from one of the dealers noted above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.