Sentry Select Capital Corp.

Sentry Select Capital Corp.
NCE Diversified Flow-Through (08) Limited Partnership

NCE Diversified Flow-Through (08) Limited Partnership

March 27, 2008 10:45 ET

NCE Diversified Flow-Through (08) Limited Partnership Closes Offering, Raises $123 Million

TORONTO, ONTARIO--(Marketwire - March 27, 2008) - NCE Resources Group is pleased to announce that NCE Diversified Flow-Through (08) Limited Partnership (the "Partnership") completed its final closing. The Partnership raised total gross proceeds of $123,356,600 issuing 4,934,264 units.

Flow-through shares

The Partnership has been created for the purpose of investing in flow-through shares of resource issuers engaged in oil and gas exploration, development and/or production or mineral exploration, development and/or production or, to a lesser extent and subject to certain limitations, resource issuers involved in renewable energy exploration and development which qualify for Canadian renewable and conservation expenses. The actual allocation of the Partnership's investment portfolio will be determined based on the investment opportunities available during the investment period. The Partnership will endeavour to invest all proceeds available for investment by December 31, 2008.

Objective of the Partnership

The objective of the Partnership is to achieve capital appreciation and to maximize the tax benefits received by investors.

Tax benefits

Investors will be eligible to receive tax benefits through participation in the Partnership, including a deduction in 2008 of approximately 100% of the amount of their investment based on certain assumptions as set forth in the prospectus.

Offering price

The price per unit was $25.00 with a minimum subscription of 200 units ($5,000).

Investment advisor

The general partner has retained Sentry Select Capital Corp. ("Sentry Select") to select potential investments and to provide advice on and manage the investment portfolio of the Partnership. Sentry Select is a Canadian wealth management company that manages approximately $8 billion in gross assets as of December 31, 2007. The company offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates. Sentry Select is the manager and/or advisor to 29 Toronto Stock Exchange-listed reporting issuers. In addition, Sentry Select manages and/or provides advisory services to four reporting issuers listed on the TSX Venture Exchange.

Management

The general partner is a corporation formed under the laws of the Province of Ontario. The general partner is a member of the NCE Resources Group, which is an oil and gas investment management organization specializing in energy investments and providing a full range of technical, operational, administrative and investor services. Since 1984, the NCE Resources Group has invested or managed the investment of more than $3.9 billion in the acquisition, development and exploration of resource properties and securities of resource issuers, and has entered into drilling, joint venture and other similar arrangements with oil and gas industry participants.

Agents

The syndicate of agents, co-led by RBC Capital Markets and CIBC World Markets Inc., included BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Scotia Capital Inc., Canaccord Adams, HSBC Securities (Canada) Inc., Raymond James Ltd., Dundee Securities Corporation, GMP Securities L.P., Berkshire Securities Inc., Blackmont Capital Inc., Jory Capital Inc., Richardson Partners Financial Limited, Wellington West Capital Inc., Desjardins Securities Inc., IPC Securities Corporation, Laurentian Bank Securities Inc. and Research Capital Corporation.

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 are not historical facts but 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. Although the Partnership believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. 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.



The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615


Contact Information

  • Sentry Select Capital Corp.
    Investor Services
    (broker/investor inquiries)
    1-888-246-6656
    or
    Sentry Select Capital Corp.
    Kinga Lam
    (media inquiries)
    1-888-246-6656
    (416) 364-1197 (FAX)
    Email: info@sentryselect.com
    Website: www.sentryselect.com