Stone 2006 Flow-Through Limited Partnership

Stone 2006 Flow-Through Limited Partnership

January 11, 2006 17:12 ET

Stone 2006 Flow-Through Limited Partnership Files Preliminary Prospectus To Raise A Maximum Of $50 Million

TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2006) - Stone Asset Management Limited ("SAM"),on behalf of the Stone 2006 Flow-Through Limited Partnership ("Stone 2006 FTLP"), has filed a preliminary prospectus dated January 9, 2006. Stone 2006 FTLP proposes to raise up to $50 million by issuing up to 2,000,000 limited partnership units ("Units") at $25 per Unit. Stone 2006 FTLP will, prior to December 31, 2006, endeavor to invest all proceeds available for investment in flow-through shares of resource issuers for which the limited partners of Stone 2006 FTLP are expected to receive certain tax credits and deductions.

Stone 2006 FTLP has been formed to invest in flow-through shares of resource issuers involved primarily in oil and gas and mineral exploration in Canada with a view to the preservation of capital and achieving capital appreciation on its investments. Limited partners may be entitled to claim certain deductions from income and non-refundable investment tax credits, for income tax purposes for the 2006 taxation year.

The offering will be 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.

A preliminary prospectus relating to these securities has been filed with securities commissions or similar authorities in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, New Brunswick, Nova Scotia and Prince Edward Island and the Northwest Territories (the "Applicable Jurisdictions") but has not yet become final for the purpose of a distribution to the public. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province of the Applicable Jurisdictions prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission or similar authority in any such Applicable Jurisdiction.

Contact Information

  • Stone & Co. Limited
    Holly Hoffman
    Director, Sales & Syndication
    1 (877) 812-0792
    or
    Scotia Capital Inc.
    Jamie O’Reilly
    Associate Director
    (416) 945-4145