Front Street Resource Performance Fund Ltd.
TSX : FRE

Front Street Resource Performance Fund Ltd.

December 06, 2007 12:29 ET

Front Street Resource Performance Fund Ltd. Announces Normal Course Issuer Bid for Equity Shares

TORONTO, ONTARIO--(Marketwire - Dec. 6, 2007) - Front Street Resource Performance Fund Ltd. (the "Fund") (TSX:FRE) announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Fund's Notice of Intention to commence a Normal Course Issuer Bid (the "NCIB") for its equity shares ("Equity Shares").

Pursuant to the NCIB, the Fund proposes to purchase, from time to time, if it is considered advisable, up to 1,572,952 Equity Shares of the Fund, representing approximately 10% of the public float of Equity Shares, being 15,729,529 Equity Shares as of the date hereof. As of the date hereof, there are 16,085,779 Equity Shares issued and outstanding. The Fund will not purchase in any given 30-day period, in the aggregate, more than 321,715 Equity Shares, being approximately 2% of the issued and outstanding Equity Shares as of the date hereof. The Board of Directors of the Fund believes that such purchases are in the best interests of the Fund and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Equity Shares purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will commence on December 10, 2007 and will expire on December 9, 2008.

Front Street Resource Performance Fund Ltd. is a fund managed by Front Street Capital 2004 and advised by Front Street Investment Management Inc. The Equity Shares of the Fund are listed in the Toronto Stock Exchange under the symbol FRE.

Contact Information

  • For more information, interviews
    or other media-related requests:
    Front Street Capital
    Investor Relations
    1-800-513-2832
    Website: www.frontstreetcapital.com