Pathway Oil & Gas 2009 Flow-Through Limited Partnership

Pathway Asset Management

Pathway Asset Management

December 02, 2009 11:05 ET

Pathway Oil & Gas 2009 Flow-Through Limited Partnership Third Closing Initial Public Offering (Mining Flow-Through) Raised $1,533,450, Total Raised $7,970,330

TORONTO, ONTARIO--(Marketwire - Dec. 2, 2009) - Pathway Oil & Gas 2009 Flow-Through Limited Partnership (the "Partnership" or "Pathway Oil & Gas 2009 FTLP") reports that it has completed a third and final closing of its Initial Public Offering (the "Offering") and raised total gross proceeds in the third closing of $1,533,450 on the sale of an aggregate of 153,345 limited partnership units at $10.00 per unit pursuant to an Amended and Restated Prospectus dated October 20, 2009, which is available on SEDAR at www.sedar.com. Wellington West Capital Inc., HSBC Securities (Canada) Inc., Burgeonvest Bick Securities Limited, Canaccord Capital Corporation, Raymond James Ltd., Blackmont Capital Corporation, Desjardins Securities Inc., Industrial Alliance Securities Inc., Laurentian Bank Securities Inc., Research Capital Corporation, Integral Wealth Securities Limited and Argosy Securities Inc. acted as agents in the Offering, with Wellington West acting as the lead agent.

Following completion of the Offering, Pathway Oil & Gas 2009 Inc., the General Partner of the Partnership, will invest available funds of the Partnership primarily in flow-through shares of resource companies engaged in oil and gas exploration, development and/or production in Canada and listed on the TSX or the TSX Venture Exchange. The General Partner will invest the available funds such that Limited Partners will be entitled to claim certain deductions from income and investment tax credits for income tax purposes for the 2009 taxation year. The General Partner also plans to invest the available funds with a view to achieving capital appreciation of the Partnership's investments. The General Partner retained Pathway Investment Counsel Inc. (the "Portfolio Manager") to provide investment advisory services to the Partnership as Portfolio Manager, and William D.B. Koenig, CFA, CMA will be the individual portfolio manager at Pathway who will portfolio manage the Partnerships investments. Horst Mueller of Mueller Behavioural Analytics will provide technical analysis in relation to the mineral sector to the Portfolio Manager. The federal tax shelter identification number for the Partnership is TS 075036 and the Québec tax shelter number is QAF09-01310.

The following 12 prospectus offerings through Pathway Asset Management from 2006 all sold out and were oversubscribed: Pathway Mining 2006 Flow-Through Limited Partnership, Pathway Mining 2006-II Flow-Through Limited Partnership, Pathway Mining 2007 Flow-Through Limited Partnership, Pathway Mining 2007-II Flow-Through Limited Partnership, Pathway Mining 2007-III Flow-Through Limited Partnership, Pathway Québec Mining 2007 Flow-Through Limited Partnership, Pathway Mining 2008 Flow-Through Limited Partnership, Pathway Québec Mining 2008 Flow-Through Limited Partnership, Pathway Oil & Gas 2008 Flow-Through Limited Partnership, Pathway Quebec Mining 2008-II Flow-Through Limited Partnership, Pathway Quebec Mining 2009 Flow-Through Limited Partnership and most recently Pathway Quebec Mining 2009-II Flow-Through Limited Partnership.

Pathway Group's first offering – Pathway Mining 2005 Flow-Through Limited Partnership – which closed in late 2005, was dissolved 20 months ahead of schedule, on May 8, 2006, and rolled over into an RRSP-eligible mutual fund corporation (Pathway Multi Series Fund Inc.) to provide investors with early liquidity on a tax-deferred basis. At early dissolution, each $10 unit was worth $19.90. Pathway Group's second offering – Pathway Mining 2006 Flow-Through Limited Partnership – was also dissolved and rolled over 16 months ahead of schedule @ $11.19 per $10.00 unit. Pathway Group's third offering – Pathway Mining 2006-II Flow-Through Limited Partnership – was also dissolved and rolled over 7 ½ months ahead of schedule @ $10.09 per $10.00 unit. In other words, Pathway Asset Management has dissolved and rolled over each of its first 3 prospectus offerings way ahead of schedule, and above par. Additionally, earlier this year, Pathway Québec Mining 2008-II Flow-Through Limited Partnership was also dissolved and rolled over 19 months ahead of schedule @ $12.25 per $10.00 unit.

Pathway Asset Management and its affiliates have raised $664,807,420 in their flow-through limited partnerships to date since their inception.

Pathway is a diversified financial products and asset management company headquartered in Toronto, with offices in Montreal, Vancouver, Calgary and Edmonton. Pathway mutual funds are distributed through licensed financial advisors and investment dealers.

Information on the Partnership can be obtained by visiting the website www.pathwayam.com or by contacting the General Partner by e-mail at jd@mineralfields.com, by telephone at (416) 665-9339 ext 221, toll-free at 1 (800) 339-9169 ext 221, or by facsimile at (416) 665-9331.

Contact Information

  • Pathway Asset Management
    Imtiaz Hashmani
    CFO
    (416) 665-9339 Ext. 229 or Toll Free 1-800-339-9169 Ext. 229
    (416) 665-4772 (FAX)
    www.pathwayam.com