TORONTO, ONTARIO--(Marketwire - Jan. 8, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
NexC Partners Corp. (the "Company") is pleased to announce that it has filed a preliminary prospectus for the NexC Partners Corp. offering (the "Offering"). The Company's initial public offering will consist of Class A non-voting shares and Class F non-voting shares at a price of $10.00 per share. The Company will be managed by Purpose Investments Inc. ("Purpose").
The Company's investment objectives are to provide shareholders with: (i) long-term capital appreciation through investment in a high quality portfolio of North American dividend-paying equity securities and an investment of up to 30% in Purpose, the manager of the Company, founded and controlled by Som Seif; and (ii) quarterly cash distributions initially targeted to be 5% per annum on the issue price.
The Offering is being made on a best efforts agency basis in each of the provinces and territories in Canada through a syndicate of investment dealers co-led by TD Securities Inc., CIBC and RBC Capital Markets and including BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Manulife Securities Incorporated, and Rothenberg Capital Management Inc.
Purpose is a new Canadian investment management company established by Som Seif, founder and former CEO of Claymore Investments Inc. Purpose will be focused on managing low fee, intelligent investment products for Canadian institutional and retail investors and is committed to enabling all investors to have access to great investment products at reasonable fees. Through innovative product development and carefully considered investment strategies, Purpose's investment products will be managed with prudence, a long-term perspective and the goal of providing returns that add value relative to broad market benchmark indices.
A preliminary prospectus containing important information relating to these securities has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from one of the agents noted above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.