Sprott Asset Management LP Announces Sprott 2012 Flow-Through Limited Partnership
TORONTO, January 9, 2012 - Sprott Asset Management LP ("Sprott") is pleased to announce that the Sprott 2012 Flow-Through Limited Partnership (the "Partnership") has filed a preliminary prospectus in connection with its offering of limited partnership units. Receipt for the preliminary prospectus has been issued by the securities commissions and regulatory authorities in each of the provinces and territories of Canada.
Investment Objective of the Partnership
The Partnership's investment objective is to provide for a
tax-assisted investment in a diversified portfolio of flow-through
shares of resource issuers with a view to achieving capital
appreciation and significant tax benefits for the Limited
Partners.
Attractive Tax-Reduction Benefits
Flow-through partnerships are one of the most effective tax
reduction strategies that remain available to Canadians. Sprott
anticipates that investors participating in the Partnership will be
eligible to receive a tax deduction in 2012 that is 100% of the
amount invested in the Partnership,based on certain assumptions as
set forth in the prospectus.
Resource Expertise
The Partnership will be managed by Sprott, an independent asset
management company that is dedicated to achieving superior returns
for its clients over the long term. Portfolio managers Allan
Jacobs, Eric Nuttall and Jamie Horvat will co-manage the
Partnership and will be supported by Eric Sprott, Charles Oliver,
Rick Rule and Paul Wong.
As at December 31, 2011, Sprott had an estimated $9.1 billion in assets under management in various mutual funds and hedge funds, including approximately $8.0 billion dedicated to investments in natural resources. Sprott specializes in investing in small and mid-cap stocks and has a team of leading investment managers who think independently and act on their convictions.
Agents
The offering is being made through a syndicate of agents led by RBC
Capital Markets and including CIBC, TD Securities Inc., BMO Capital
Markets, National Bank Financial Inc., Canaccord Genuity Corp., GMP
Securities L.P., Dundee Securities Ltd., Scotia Capital Inc.,
Desjardins Securities Inc., Macquarie Private Wealth Inc., Manulife
Securities, Raymond James Ltd. and Sprott Private Wealth LP.
Offering Price
The Partnership is now available for investment. The price per unit
is $25.00 with a minimum subscription of 200 units ($5,000).