Jov Diversified Quebec 2009 Flow-Through Limited Partnership

September 11, 2009 18:07 ET

Jov Diversified Quebec Flow-Through 2009 Limited Partnership Maximum Offering-$15,000,000

TORONTO, ONTARIO--(Marketwire - Sept. 11, 2009) - Jov Diversified Quebec Flow-Through 2009 Limited Partnership ("the Partnership") is pleased to announce that it has filed a preliminary prospectus ("Prospectus") in the province of Quebec relating to the initial public offering of units of the Partnership.

Partnership Objectives. The Partnership will provide Limited Partners with a tax-assisted investment in a diversified portfolio of Flow-Through Shares of oil & gas and mineral exploration, development and/or production companies and possibly renewable energy production companies (the "Resource Companies") with a view to achieving capital appreciation for Limited Partners.

The Syndicate. The syndicate of agents for the offering is being co-led by National Bank Financial Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc. and includes HSBC Securities (Canada) Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, Desjardins Securities Inc., Dundee Securities Corp., Laurentian Bank Securities Inc., GMP Securities L.P., Industrial Alliance Securities Inc., M Partners Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc.

Tax Benefits. Investors will be able to receive tax deductions for 2009 of approximately 136% of the amount invested based on completion of the maximum offering and certain other conditions as set forth in the Prospectus. Investors may also receive an additional 14% over the next 4 years.

The Sub-Advisor and the Portfolio Manager.

T.I.P. Wealth Manager Inc. (the "Sub-Advisor") will act as sub-advisor to JovInvestment Management Inc., and will be responsible for the Partnership's investment activities. Mr. Jim Huang, the President of T.I.P., will act as Portfolio Manager on behalf of the Sub-Advisor. Mr. Huang has over 16 years of investment experience and was formerly a Vice President and portfolio manager at Natcan Investment Management Inc. and its predecessor Altamira Management Ltd. from November 1998 to March 2006. Prior to that, from February 1996 to November 1998, he was a Senior Research Analyst/Investment Officer at Sun Life of Canada.

While working at NATCAN (formerly Altamira), Mr. Huang managed or co-managed over $2 billion in mutual funds and institutional assets, including all of the resource and equity income products in the Altamira and National Bank mutual fund families. Altamira Energy Fund, Altamira Resource Fund, Altamira Precious and Strategic Metals Fund and AltaFund (a Canadian Equity fund focusing on Western Canada) had industry-leading performance and won awards and positive press coverage during Mr. Huang's management.

In addition, Mr. Huang has experience managing the portfolios of flow-through limited partnerships and other resource funds, having acted as investment adviser for Jov Diversified Flow-Through 2008-II Limited Partnership, Jov Diversified Flow-Through 2008 Limited Partnership, Jov Flow-Through 2007 Limited Partnership, Rhone 2004 Flow Through Limited Partnership, Rhone 2005 Flow-Through Limited Partnership, Alpha Energy 2006 Flow-Through Fund, First Asset Energy & Resource Income & Growth Fund and First Asset Energy and Resource Fund, as well as other privately offered flow-through investment vehicles.

Offering Jurisdictions. Available for sale only in the province of Quebec, Canada.

Investment Guidelines. The Partnership has developed investment guidelines and restrictions which govern the Partnership's overall investment activities, which include the following:

Investment Restrictions (% of
Type of Investment NAV upon investment)
Resource Companies based in Quebec At least 75%
Resource Companies listed on a stock exchange At least 80%
Resource Companies listed and posted for
trading on the TSX, NYSE, AMEX or the
NASDAQ National Market At least 25%
Illiquid Investment (including securities
of Resource Companies that are not
publicly traded) Not more than 20%
Investment in any one Resource Company Not more than 20%
Investment in Related Entities Not more than 10%

In addition, the Investment Portfolio will be managed, at all times, in such a way as to preserve the ability to undertake a future Liquidity Event, such as a rollover into a mutual fund corporation.

The Investment Manager. JovInvestment Management Inc. ("JovInvestment") is the investment manager of the Partnership. JovInvestment, is a wholly-owned subsidiary of Jovian Capital Corporation ("Jovian") and is a member of the JovFunds group of companies. JovFunds provides investment solutions for Canadian investors through the creation, management and distribution of high quality investment products. Jovian is a publicly-traded company listed on the Toronto Stock Exchange (JOV). Jovian is a holding and management company with interests in a variety of financial service firms specializing in wealth and asset management. The Jovian group of companies operate as a national financial services organization with approximately $12.5 billion of client assets.

JovInvestment provides management and fund management services for mutual funds, closed-end funds and labour sponsored investment funds.

A preliminary prospectus dated September 8, 2009 relating to these securities has been filed with the securities commissions or similar authorities in the provinces of Quebec and British Columbia, Canada, but has not become final for the purpose of distribution to the public. This release shall not constitute an offer to sell or the solicitation of any offer to buy the securities. This release is provided for information purposes only. Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

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