Stone 2006-II Flow-Through Limited Partnership

Stone 2006-II Flow-Through Limited Partnership

October 19, 2006 10:15 ET

Stone 2006-II Flow-Through Limited Partnership Set to Raise a Maximum of $20 Million Under Offering Memorandum

TORONTO, ONTARIO--(CCNMatthews - Oct. 19, 2006) - Stone Asset Management Limited ("SAM"), on behalf of the Stone 2006-II Flow-Through Limited Partnership ("Stone 2006-II FTLP"), announces its launch under Offering Memorandum dated October 6, 2006. Stone 2006-II FTLP proposes to raise up to $20 million by issuing up to 800,000 limited partnership units ("Units") at $25 per Unit. Stone 2006-II FTLP will, prior to December 15, 2006, endeavor to invest all proceeds available for investment in flow-through shares of resource issuers for which the limited partners of Stone 2006-II FTLP are expected to receive certain tax credits and deductions.

Stone 2006-II 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 Wellington West Capital Inc., and including Canaccord Capital Corporation, Research Capital Corporation, Burgeonvest Securities Limited, and Queensbury Securities Inc.

SAM, the investment advisor for Stone 2006 FTLP-II, has acted as the investment advisor to four prior Stone Flow-Through Limited Partnerships ("Prior Stone FTLPs"), which were offered under prospectus and have raised aggregate gross proceeds in excess of $93 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-II FTLP.

The Stone 2006-II FTLP is available to investors under Offering Memorandum. This press release is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy the securities referred to herein. Please refer to the Offering Memorandum for additional information regarding eligibility for investors. Please consult your tax professional before investing.

Contact Information

  • Stone & Co. Limited
    Wan Kim
    Senior Vice President, National Sales
    Wellington West Capital Inc.
    Tyler Wirvin
    Equity Capital Markets
    (204) 925-5142