Norrep Short Duration 2013 Flow-Through Limited Partnership Completes Asset Transfer

CALGARY, ALBERTA--(Marketwired - March 14, 2014) - Hesperian Capital Management Ltd. is pleased to announce that the assets of Norrep Short Duration 2013 Flow-Through Limited Partnership (the "Partnership") have been transferred to Norrep Energy Class of Norrep Opportunities Corp. (the "Fund") effective March 13, 2014. The Partnership will be dissolved in accordance with the Partnerships Act (Alberta) on March 14, 2014.

The net asset values were calculated as at the close of business on March 13, 2013. The Partnership closed at a final price of $10.11 per unit.

There are no fees for investors related to the asset transfer and the transaction does not represent a taxable event. Investors may indefinitely defer a tax liability by continuing to hold the shares of Norrep Energy Class or by transferring, on a tax-deferred basis, to another fund class of Norrep Opportunities Corp. Please visit www.norrep.com for information on the Norrep Group of Funds.

The Partnership received an aggregate of 1,354,947 mutual fund shares of the Fund with a net asset value of approximately $27,411,788. As a result of the transfer, each limited partner (investor) of the Partnership will receive, upon dissolution of the Partnership, approximately 0.49978 of a mutual fund share for each limited partnership unit based on a net asset value of $10.11 per unit. The estimated adjusted cost base for the Partnership is $4.5591 per unit, which translates to $9.1222 per share for the Norrep Energy Class shares distributed to investors. Mutual fund shares will be distributed to limited partners within five business days following the date of dissolution of the Partnership.

Hesperian Capital Management Ltd. is an independent investment management firm managing approximately $1.2 billion from offices in Calgary and Toronto. Please visit www.hesperiancapital.com for more details.

Certain information set forth in this press release, including a discussion of future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. Actual results, performance or achievement could differ from those expressed in or implied by these forward-looking statements.