Norrep Performance 2011 Flow-Through Limited Partnership Raises $6,683,500 in First Closing

CALGARY, ALBERTA--(Marketwire - March 18, 2011) - Norrep 2011 Management Inc. announced today that Norrep Performance 2011 Flow-Through Limited Partnership (the "Partnership") has completed the first closing of its initial public offering of limited partnership units ("Partnership Units"). The Partnership issued 668,350 Partnership Units at $10.00 per Partnership Unit for gross proceeds of $6,683,500. The next closing of the offering is scheduled to occur on or about April 29, 2011. The offering was led by BMO Capital Markets and included National Bank Financial Inc., TD Securities Inc., GMP Securities L.P., Canaccord Genuity Corp., Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. (collectively, the "Agents").

About the Partnership

The Partnership has been organized to invest in flow-through shares of resource companies whose principal business is (i) oil and gas exploration, development and production, (ii) mineral exploration, development and production, or (iii) renewable energy development and production in Canada. 

The Partnership will have a greater focus on Canadian Development Expense (CDE) expenditures over Canadian Exploration Expense (CEE) expenditures, which shifts the nature of the underlying activities from exploration activities and adding prospects to development drilling and other activities to add production.

Management of Norrep 2011 Management Inc., the general partner, has managed or manages twelve other flow-through limited partnerships that were formed to invest in flow-through shares of resource companies. Including the Partnership, these partnerships have raised total gross proceeds of approximately $427 million.

This offering is only made by a prospectus dated February 28, 2011 (the "Prospectus"). The Prospectus contains important information relating to these securities. Copies of the Prospectus may be obtained from any of the Agents. Investors should read the Prospectus before making an investment decision.