(Source: Canada Newswire)
TORONTO, July 3 /CNW/ - Canada Dominion Resources 2009 Limited Partnership (the "Partnership") announces the completion of its initial public offering of limited partnership units ("Units") pursuant to which 1,601,165 Units were issued for gross proceeds of $40,029,125. The offering was made available in all provinces and territories in Canada.
The Partnership's investment objective is to provide a tax- assisted investment in a diversified portfolio of flow-through shares and other securities of resource companies with a view to earning income and achieving capital appreciation for limited partners. The assets of the Partnership will initially be invested in flow-through shares of resource companies engaged in oil & gas or mining exploration, development and/or production or certain energy production that may incur Canadian renewable and conservation expense. Limited partners with sufficient income will be entitled to claim deductions for Canadian federal income tax purposes in respect of the Canadian exploration expense incurred and renounced to the Partnership and may be entitled to certain investment tax credits deductible from tax payable.
The Units were offered at a price of $25.00 per Unit, subject to a minimum subscription of two hundred Units for $5,000, payable in full at time of subscription. Prior to July 1, 2011, the Partnership intends to complete an exchange transaction with Dynamic Managed Portfolios Ltd. ("DMP Ltd.") pursuant to which limited partners will receive redeemable DMP Resource Class shares on a tax-deferred basis.
The offering was led by RBC Capital Markets, CIBC World Markets Inc. and Dundee Securities Corporation, and included National Bank Financial Inc., BMO Capital Markets, Scotia Capital Inc., TD Securities Inc., Blackmont Capital Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Manulife Securities Incorporated, Raymond James Ltd., Desjardins Securities Inc. and Wellington West Capital Markets Inc.
Canada Dominion is a leader in flow-through share finance. Since its first partnership was introduced in 1998, Canada Dominion has successfully raised and invested over $1.1 billion in companies involved in exploration and development efforts in Canada's resource sector. The offerings of Canada Dominion, when combined with those of the flow-through limited partnerships of CMP(TM), form Canada's largest flow-through platform, raising a combined total of more than $3.6 billion in assets throughout their history. Goodman & Company, manager of the Partnership, the flow-through limited partnerships of Canada Dominion and of CMP(TM) and the seven investment choices within DMP Ltd., also manages the mutual funds, hedge funds and closed-end investment trusts of Dynamic Funds(TM), the portfolio solutions of the Marquis Investment Program, and the high-net worth investment counsel of Goodman Private Wealth Management. Goodman & Company is an affiliate of DundeeWealth Inc. (TSX: DW).
Dynamic Funds and CMP are registered trademarks of Dundee Corporation,
used under license.
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