CALGARY, ALBERTA--(Marketwired - March 21, 2017) - Norrep Capital Management Ltd. is pleased to announce that Norrep Short Duration 2017 Flow-Through Limited Partnership (the "Partnership") has filed the preliminary prospectus for the initial public offering of units of the Partnership. Funds raised by the Partnership will be invested in flow-through shares of resource companies whose principal business is oil & gas exploration and development, mineral exploration and development, and renewable energy development and production.
The Partnership will focus on Canadian Development Expense (CDE) expenditures over Canadian Exploration Expense (CEE) expenditures. This shifts the nature of the underlying activities from higher risk exploration activities to lower risk development drilling that focuses on already identified oil & gas pools or mineral deposits.
The offering is being made through a syndicate of investment dealers led by BMO Capital Markets and including CIBC Capital Markets, National Bank Financial Inc., RBC Capital Markets, Scotiabank, TD Securities Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Industrial Alliance Securities Inc., Laurentian Bank Securities Inc. and Manulife Securities Incorporated.
Norrep Capital Management Ltd. has been managing flow-through limited partnerships since 1999. These partnerships have raised total gross proceeds of over $542 million.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the investment dealers listed 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.
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.