Sentry Investments Inc.



Sentry Investments Inc.
NCE Resources Group



March 27, 2014 09:18 ET

NCE Diversified Flow-Through (14) Limited Partnership raises $16.7 million at second closing

TORONTO, ONTARIO--(Marketwired - March 27, 2014) - NCE Resources Group is pleased to announce that NCE Diversified Flow-Through (14) Limited Partnership (the "Partnership") completed its second closing on March 27, 2014, raising gross proceeds of $16,686,025 and issuing 667,441 limited partnership units of the Partnership. The Partnership completed its first closing on February 21, 2014, raising gross proceeds of $50,855,900 and issuing 2,034,236 limited partnership units of the Partnership.

Third closing

The Partnership's third closing is expected to occur on or about April 25, 2014.

Flow-through shares

The Partnership has been created for the purpose of investing in flow-through shares of resource companies engaged in oil and gas exploration, development and/or production, or mineral exploration, development and/or production, or renewable energy exploration and development, and related resource business issuers such as pipeline or service companies and utilities. The actual allocation of the Partnership's investment portfolio will be determined based on the investment opportunities available at the time of investment. The Partnership will endeavour to invest all proceeds available for investment in flow-through shares on or before December 31, 2014.

Objective of the Partnership

The objective of the Partnership is to achieve capital appreciation and to maximize the tax benefits received by investors. The Partnership will initially invest in flow-through shares of resource companies.

Tax benefits

Investors will be eligible to receive tax benefits through participation in the Partnership, which is expected to include a deduction in 2014 of an amount equal to approximately 100% of their investment based on completion of the maximum offering and on certain other assumptions as set forth in the Prospectus (as defined below).

Manager and portfolio advisor

The general partner, NCE Diversified Management (14) Corp. (the "General Partner") has retained Sentry Investments Inc. ("Sentry") as the manager of the Partnership, to direct the business, operations and affairs of the Partnership, and provide day-to-day management services to the Partnership on behalf of the General Partner, including, without limitation, the provision of advice on and the management of the investment portfolio of the Partnership.

General Partner

The General Partner is a corporation incorporated 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, NCE Resources Group has invested or managed the investment of approximately $4.5 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 and metals and mining industry participants.

Agents

The syndicate of agents, co-led by RBC Capital Markets and CIBC, includes National Bank Financial Inc., BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Manulife Securities Incorporated, Desjardins Securities Inc., Raymond James Ltd., Burgeonvest Bick Securities Limited, Dundee Securities Ltd., Laurentian Bank Securities, Inc. and Mackie Research Capital Corporation.

Sentry Investments

Sentry Investments was founded in 1997 and is one of Canada's fastest-growing independent asset management companies. Sentry manages over $13 billion in assets on behalf of more than 400,000 Canadian investors. Sentry offers a diverse range of award-winning investment products available through financial advisors, including domestic and global mutual funds, and separately managed accounts. Sentry is one of only three firms to receive five consecutive Brendan Wood Canadian International TopGun Asset Management Team Awards (2009 to 2013).

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 that they relate to the Partnership. Forward-looking statements in this news release include statements regarding the eligibility and receipt of tax benefits by investors through participation in the Partnership. The forward-looking statements are not historical facts but reflect the General Partner's and Sentry'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 General Partner and Sentry believe 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. Neither the General Partner nor Sentry undertake any 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.

Please see the final prospectus dated January 29, 2014 (the "Prospectus") for a complete description of NCE Diversified Flow-Through (14) Limited Partnership. This offering is only made by Prospectus. The Prospectus contains important detailed information about the securities being offered. Copies of the Prospectus can be obtained from the dealers noted above. Investors should read the Prospectus before making an investment decision. There are a number of risks associated with this type of investment. These investments are generally speculative in nature.

Sentry Investments Inc.
Commerce Court West
199 Bay Street, Suite 4100
P.O. Box 108
Toronto, ON M5L 1E2
Tel: 416-364-9297
Fax: 416-364-1197

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