Stone 2006 Flow-Through Limited Partnership

Stone 2006 Flow-Through Limited Partnership

April 12, 2006 12:34 ET

Stone 2006 Flow-Through Limited Partnership Completes Second Closing of IPO

TORONTO, ONTARIO--(CCNMatthews - April 12, 2006) -

This press release is not for dissemination in the United States or for distribution to U.S. news wire services.

Stone Asset Management Limited ("SAM"), on behalf of Stone 2006 Flow-Through Limited Partnership ("Stone 2006 FTLP"), announced today that Stone 2006 FTLP completed the second closing of its public offering on April 6, 2006 and raised gross aggregate proceeds of $9,184,300, representing 367,372 limited partnership units ("Units") at $25 per Unit. The total aggregate proceeds raised to date are $31,841,725 representing 1,273,669 Units. The maximum offering of Stone 2006 FTLP is $50,000,000.

Stone 2006 FTLP filed a final prospectus dated January 30, 2006 with securities regulatory commissions and regulatory authorities in all provinces of Canada and the Northwest Territories. Stone 2006 FTLP has been formed to invest in flow-through shares of resource issuers engaged primarily in oil and gas and mineral exploration in Canada with a view to the preservation of capital and achieving capital appreciation of its investments.

The offering was made by a group of securities dealers led by Scotia Capital Inc. and Wellington West Capital Inc., and including BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Berkshire Securities Inc., Blackmont Capital Inc., Desjardins Securities Inc., and Raymond James Ltd.

SAM, the investment advisor for Stone 2006 FTLP, has acted as the investment advisor to three prior Stone Flow-Through Limited Partnerships ("Prior Stone FTLPs") which have raised aggregate gross proceeds in excess of $62 million. Stone & Co. Limited, a company related to SAM, has acted as the promoter and administrator of the Prior Stone FTLPs and will act as the administrator for the Stone 2006 FTLP.

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This offering is made by prospectus only and copies thereof may be obtained from any of the dealers listed above as may lawfully offer these securities in such province or territory or by contacting Stone & Co. Limited toll-free at 1.877.812.0792.

Contact Information

  • Stone & Co. Limited
    Wan Kim
    Senior Vice President, National Sales
    1 (877) 812-0792