Dominion Equity Resource Fund Inc.

September 30, 2005 18:14 ET

Dominion Equity Resource Fund Inc. and TGL Flow-Through (2003) Limited Partnership Announce Completion of Asset Transfer Transaction

CALGARY, ALBERTA--(CCNMatthews - Sept. 30, 2005) - Dominion Equity Resource Fund Inc. ("Dominion Equity") and TGL Flow-Through (2003) Limited Partnership (the "Partnership") announced today that all of the portfolio assets of the Partnership were transferred to Dominion Equity, an open ended mutual fund, in exchange for an equivalent value of mutual fund shares of Dominion Equity. For the purposes of the exchange, the asset value of the Partnership's non-cash portfolio was approximately $4.4 million. Mutual fund shares were issued by Dominion Equity at a net asset value of $38.8843 per share in exchange for the Partnership's portfolio. As a result of this transaction, the total assets of Dominion Equity increased to $89.2 million. The Partnership intends to distribute the mutual fund shares of Dominion Equity to its limited partners and dissolve the Partnership as soon as is reasonably practicable.

Based in Calgary, Alberta, the center of Canada's oil and gas industry, Dominion Equity is a public mutual fund with investments in the equity of Canadian companies involved in the exploration, development, marketing and production of oil and natural gas and related service companies.

Contact Information

  • Dominion Equity Resource Fund Inc.
    Mr. William D. Bonner
    (403) 303-4488
    or
    TGL Investments Inc. - General Partner
    Mr. Harry E. Gross
    (403) 263-3385