Qwest Energy 2008 Flow-Through Limited Partnership

Qwest Energy 2008 Flow-Through Limited Partnership

April 30, 2008 14:39 ET

Qwest Energy 2008 Flow-Through Limited Partnership Announces Final Closing Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2008) - Qwest Investment Management Corp. is pleased to announce that Qwest Energy 2008 Flow-Through Limited Partnership (the "Partnership") completed its final closing of its public offering of Partnership Units on April 30th, 2008. The Partnership issued 192,015 Units at $25.00 for total gross proceeds of $4,800,375 for its third and final closing, bringing the total gross proceeds to $13,891,850 (555,674 Units issued). Qwest expects the Partnership's investors will receive a tax deduction of 100% for the 2008 taxation year on the amount of their investment in the Partnership.

Objectives of the Partnership

The Partnership has been organized to provide investors with a tax-assisted investment in a diversified portfolio of flow-through shares of resource issuers whose shares are publicly traded and, to a lesser extent, flow-through shares of private resource issuers, with a view to achieving capital appreciation for investors. The principal business of the resource issuers will be oil and gas exploration, development and production and also mineral exploration, development and production or certain energy production that may incur certain start-up phase costs of renewable energy and energy efficient projects.

Tax Benefits

Investors will be eligible to receive tax benefits through participation in the Partnership and are expected to receive a deduction for the 2008 tax year of approximately 100% of the amount of their investment as further described in the final prospectus.

Agents for the Partnership

Dundee Securities Corporation, CIBC World Markets, RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Berkshire Securities Inc., Canaccord Capital Corporation, GMP Securities L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., and Wellington West Capital Inc.

Partnership's Offering Jurisdictions

A final prospectus relating to the Partnership has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. This news release shall not constitute an offer to sell or a solicitation to purchase, nor shall there be any sale or any acceptance of an offer to purchase units of the Partnership in any province or territory of Canada prior to the receipt for the final prospectus or other authorization is obtained from a securities commission or similar authority.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Partnership. The forward-looking statements reflect the Partnership's current expectations regarding 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. Forward-looking statements are not a guarantee of future performance. The Partnership undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. Important information concerning this offering is contained in the final prospectus.

About Qwest

Qwest Investment Management Corp. is an investment management firm which specializes in identifying, structuring and managing investment products. Qwest Investment Management Corp. is currently focused on investments in the natural resource sector.

Contact Information