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TORONTO, Oct. 17, 2024 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the Ninepoint 2024 Short Term Flow Through Limited Partnership II (the “Partnership”) has completed the second and final closing in connection with its offering of Partnership Units. Ltd. Class A and F securities (“Units”) pursuant to a prospectus dated September 18, 2024. The Partnership raised $12,290,500 from the sale of an additional 491,620 Units for gross proceeds of $24,997,900. Units are offered at $25.00 USD each with a minimum subscription of 100 units ($2,500 USD).
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Ninepoint is Canada’s leading streaming fund manager. Since its inception in 2017, Ninepoint has raised more flow fund capital than any other asset manager in Canada.
The Partnership intends to provide liquidity to limited partners through migration to the Ninepoint Resource Fund category between January 15, 2026 and February 28, 2026.
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The investment objective of the partnership is to achieve capital appreciation and significant tax benefits for the limited partners by investing in a diversified portfolio of flow-through shares (as defined in the prospectus) and other securities, if any, of the resource issuers (as defined in the prospectus).
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Flow-through partnerships are one of the most effective tax reduction strategies available to Canadians. Ninepoint expects that investors participating in the partnership will be eligible for a tax deduction of approximately 100% of the amount invested.
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The partnership will be sub-advised by Sprott Asset Management LP (“Sprott”), one of Canada’s leading investment advisory firms in small and mid-sized resource companies. Over its long history of investing in the resources sector, Sprott has developed relationships with hundreds of companies. Its team of experienced portfolio managers is supported by a team of technical experts with extensive backgrounds in mining and geology.
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Portfolio Manager Jason Mayer will manage the partnership’s portfolio and will be supported by Sprott’s broader team of experienced resource investing professionals.
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The offering is being made through a group of dealers 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., Manulife Wealth Inc., iA Private Wealth Inc., Raymond James Ltd., Richardson Wealth Limited, Canaccord Genuity . Corp., Desjardins Securities Inc., Ventum Financial Corp., and Wellington-Altus Private Wealth Inc.
About Ninepoint Partners LP
Toronto-based Ninepoint Partners LP is one of Canada’s leading alternative investment managers, overseeing approximately $7 billion in assets under management and institutional contracts. Ninepoint is committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, and offers a variety of alternative strategies that include equities, fixed income, alternative income, real assets, forex and digital assets.
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For more information about Ninepoint Partners LP, please visit the website www.ninepoint.com Or for inquiries regarding the offer, please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.
Certain statements in this press release constitute forward-looking statements, including, without limitation, those identified by the expressions “anticipates,” “intends,” “anticipates,” “will” and similar expressions to the extent they relate to Partnership. Forward-looking statements are not historical facts but rather reflect the current expectations of the Partnership, Ninepoint’s and Sprott with respect to 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 that the assumptions underlying the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, therefore, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty. In it. Neither the Partnership, Ninepoint nor Sprott undertake any obligation to publicly update or revise any forward-looking statement or information whether as a result of new information, future events or other factors affecting such information, except as required by law.
This offering is being made only by means of a prospectus. The partnership prospectus contains important detailed information about the securities offered. Copies of the prospectus may be obtained from one of the dealers mentioned above. Investors should read the prospectus before making an investment decision.
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