Norrep Performance 2012 Flow-Through Limited Partnership
Summary of the Offering
| Issuer: | Norrep Performance 2012 Flow-Through Limited Partnership (the “Partnership”) Limited Partnership Units (“Units”) |
| Issue: | Limited Partnership Units (“Units”) |
| Size: | Maximum $50,000,000 (5,000,000 Units) Minimum $5,000,000 (500,000 Units) |
| Price | $10.00 per Unit |
| Minimum Subscription: | $5,000 (500 Units) |
| General Partner: | Norrep 2012 Management Inc. |
| Investment Manager: | Hesperian Capital Management Ltd. (“Hesperian”) will provide investment, management, administrative and other services to the General Partner on behalf of the Partnership. Hesperian provides investment management services to individuals, institutions, and mutual funds. Steve Smith, CA and Keith Leslie, CFA will review and select investments for the Partnership. |
| Investment Objective: | The Partnership's investment objective is to achieve capital appreciation through investment in Flow-Through Shares of Resource Companies. |
Press Release: Norrep Performance 2012 Flow-Through Limited Partnership Files Preliminary Prospectus
Calgary, Alberta – January 4, 2012 – Hesperian Capital Management Ltd. is pleased to announce that Norrep Performance 2012 Flow-Through Limited Partnership (the "Partnership") has filed the preliminary prospectus for the initial public offering of units of the Partnership. Funds raised by the Partnership will be invested in flow-through shares of resource companies whose principal business is oil & gas exploration and development, mineral exploration and development, and renewable energy development and production.
The Partnership will focus on Canadian Development Expense (CDE) expenditures over Canadian Exploration Expense (CEE) expenditures. This shifts the nature of the underlying activities from higher risk exploration activities to lower risk development drilling which focuses on already identified oil & gas pools or mineral deposits.
The offering is being made through a syndicate of investment dealers led by BMO Capital Markets and includes National Bank Financial Inc., TD Securities Inc., GMP Securities L.P., Canaccord Genuity Corp., Dundee Securities Ltd., Macquarie Private Wealth Inc., and Raymond James Ltd.
Hesperian Capital Management Ltd. has managed or manages twelve other flow-through limited partnerships that were formed to invest in flow-through shares of resource companies. These partnerships have raised total gross proceeds of over $430 million.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada, except Quebec. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the investment dealers listed 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.
Certain information set forth in this press release, including a discussion of future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. Actual results, performance or achievement could differ from those expressed in or implied by these forward-looking statements.
