Sentry Select Capital Corp.

Sentry Select Capital Corp.

October 06, 2005 12:16 ET

Sentry Select Capital Corp.: Offering for NCE Diversified Flow-Through '05-2' Limited Partnership Closed; Raises $75,000,000

TORONTO, ONTARIO--(CCNMatthews - Oct. 6, 2005) - The initial public offering for a new flow-through investment - NCE Diversified Flow-Through (05-2) Limited Partnership (the "Partnership") - closed on October 5, 2005.

Gross Proceeds

At the closing, 3,000,000 Units were issued, for total gross proceeds of $75,000,000.

Flow-Through Shares

The Partnership has been created for the purpose of investing in flow-through shares of certain resource companies.

It is intended that all proceeds available for investment will be allocated by the Partnership among resource companies engaged in oil and gas exploration development and/or production, (including to a lesser extent, resource issuers involved in renewable energy exploration and development) and resource companies engaged in mining exploration, development and/or production.

The actual allocation of the Partnership's investment portfolio will be determined based on the investment opportunities available during the investment period. The Partnership will endeavour to invest all proceeds available for investment by December 31, 2005.

Objective of the Partnership

The objective of the Partnership is to achieve capital appreciation and to maximize the tax benefits received by investors.

Tax benefits

Investors will be eligible to receive tax benefits through participation in the Partnership, including an approximately 100% deduction in 2005 of the amount of their investment based on completion of the maximum offering and on certain other assumptions set forth in the prospectus.

Investment Advisor and Industry Advisor

The general partner has retained Sentry Select Capital Corp. to select potential investments and to provide advice on and manage the investment portfolio of the Partnership. Sentry Select is a wealth management company with gross assets under management in excess of $8 billion, including more than $1.6 billion in energy sector related investments. The general partner has also retained Schachter Asset Management Ltd., a Canadian investment management firm, to provide it with general oil and gas industry advice.

Management

The general partner of the Partnership 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, the NCE Resources Group has invested or managed the investment of more than $2.0 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 approximately 400 oil and gas industry participants.

Agents

The Agents on the offering were RBC Dominion Securities Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Dundee Securities Corporation, Berkshire Securities Inc., Desjardins Securities Inc., Blackmont Capital Inc., IPC Securities Corporation, Jory Capital Inc. and Wellington West Capital Inc.



The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615



Contact Information

  • Sentry Select Capital Corp.
    Investor Services (broker/investor enquiries)
    1-888-246-6656
    (416) 364-1197 (FAX)
    or
    Sentry Select Capital Corp.
    June MacKinnon (MEDIA enquiries only)
    1-888-246-6656
    (416) 364-1197 (FAX)
    info@sentryselect.com
    www.sentryselect.com