Fairway Energy (06) Flow-Through Limited Partnership

Fairway Energy (06) Flow-Through Limited Partnership

June 30, 2008 19:05 ET

Fairway Energy (06) Flow-Through Limited Partnership: Rollover Transaction Completed, June 30, 2008

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2008) - Fairway Energy (06) Flow-Through Management Corp. ("Fairway"), general partner of Fairway Energy (06) Flow-Through Limited Partnership (the "Partnership"), and JovFunds Management Inc. ("JovFunds") the manager of Jov Corporate Funds Ltd. (the "Mutual Fund") announce that the Partnership has completed the transfer and sale (the "Rollover Transaction") of all of the property and assets of the Partnership on a tax-deferred basis to the Mutual Fund in exchange for redeemable Series A Shares of the Jov Canadian Equity Class (the "Equity Class Shares") effective Monday, June 30, 2008.

Limited partnership units (the "Units") of the Partnership were exchanged on a tax deferred basis for Equity Class Shares with equal value pursuant to an asset purchase agreement dated June 30, 2008 between the Partnership and the Mutual Fund. Each Unit was exchanged for 1.0725 Equity Class Shares of the Mutual Fund, based on a net asset value per Unit of $10.7253 for the Partnership and a net asset value per share of $10.00 for each Equity Class Share. The Equity Class Shares are redeemable at the discretion of the Mutual Fund shareholder.

About Fairway (www.fairwayenergy.ca)

The Partnership was established to provide limited partners with a tax-assisted investment in a diversified portfolio of Flow-Through Shares of resource companies with a view to achieving capital appreciation for limited partners. The principal business of the resource companies was oil and gas exploration, development and/or production.

About JovFunds Management Inc. (www.jovfunds.com)

JovFunds provides innovative investment solutions for Canadians through the creation, distribution and management of high quality investment products. JovFunds manages and distributes in excess of $2.2 billion in client assets and is wholly owned by Jovian Capital Corporation.

About Jovian Capital Corporation (www.joviancapital.com)

Jovian acquires, creates and grows financial services companies specializing in wealth and asset management. The Jovian group of companies (MGI Securities Inc., MGI Securities (USA) Inc., Rice Financial Group Inc., BetaPro Management Inc., Horizons Funds Inc., JovFunds Management Inc., JovFunds Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc., T.E. Wealth and Felcom Data Services Inc.) manages $15.0 billion of client assets ($5.8 billion in assets under management and $9.2 billion in assets under administration). Additional information is available at www.joviancapital.com and www.sedar.com.

Wealth management entities include MGI Securities Inc., MGI Securities (USA) Inc. and Rice Financial Group Inc. Asset management entities include BetaPro Management Inc., Horizons Funds Inc., JovFunds Management Inc., JovFunds Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc. and T.E. Wealth. Financial corporate service entities include Felcom Data Services Inc.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • JovFunds Management Inc.
    For further information or assistance
    with respect to the Mutual Fund Corporation
    (416) 601-2500 or Toll Free: 1-866-514-6603
    (416) 601-2501 (FAX)
    Email: info@jovfunds.com
    Website: www.jovfunds.com
    or
    Fairway Energy (06) Flow-Through Limited Partnership
    For further information or assistance
    with respect to the Partnership
    (604) 684-5750
    (604) 684-5748 (FAX)
    Email: info@fairwayenergy.ca
    Website: www.fairwayenergy.ca