Press Releases

Stone 2010 Flow-Through Limited Partnership Raises $9 Million at First Closing of IPO

Apr 29 2010

TORONTO – April 29, 2010 – Stone 2010 Flow-Through GP Inc. is pleased to announce that it has completed its first closing of the initial public offering of Stone 2010 Flow-Through Limited Partnership (the “Partnership”) raising gross proceeds of $9,057,150, representing 362,286 units of the Partnership, at $25 per Unit. The second closing of the offering is expected to be on or about May 27, 2010.
 
The Partnership will invest primarily in flow-through shares of resource issuers engaged in oil and gas and mineral exploration in Canada with a view to the preservation of capital and achieving capital appreciation of the Partnership?s investments. Stone Asset Management Limited will act as portfolio manager to the Partnership and will, prior to December 31, 2010, endeavour to invest all proceeds available for investment primarily in flow-through shares of resource issuers that will agree to incur Canadian Exploration Expense ("CEE") in carrying out exploration in Canada and renounce CEE to the Partnership. Limited Partners with sufficient income may be entitled to claim certain deductions from income and non-refundable investment tax credits where available, for income tax purposes for the 2010 taxation year.
 
The offering is made by a syndicate of agents co-led by CIBC, National Bank Financial Inc. and RBC Capital Markets and includes BMO Capital Markets, Scotia Capital Inc., Canaccord Financial Ltd., Manulife Securities Incorporated, Raymond James Ltd., Wellington West Capital Markets Inc., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Burgeonvest Bick Securities Limited and Mackie Research Capital Corporation.
 
This 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 agents listed above. Investors should read the prospectus before making an investment decision.
 
For more information, contact:
Stone & Co. Limited
Michael Bevan
Key Accounts Manager
p. 416 607-7387| 800 336 9528
e. michaelb@stoneco.com | www.stoneco.com
 

 

 

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