Stone 2009 Flow-through Limited Partnership

March 09, 2011 16:56 ET

Stone 2009 Flow-Through Limited Partnership Completes Rollover

TORONTO, ONTARIO--(Marketwire - March 9, 2011) - Stone Asset Management Limited ("SAM"), the manager of Stone 2009 Flow-Through Limited Partnership (the "Partnership"), announced that the Partnership completed the transfer and sale (the "Rollover Transaction") of all of the property and assets of the Partnership on a tax-deferred basis to Stone & Co. Corporate Funds Limited (the "Mutual Fund Corporation") in exchange for Series A Resource Plus Class shares of the Mutual Fund Corporation (the "Resource Plus Class Shares") on Friday March 4, 2011 (the "Rollover Date").

Limited partnership units ("Units") of the Partnership were exchanged on a tax-deferred basis for Resource Plus Class Shares with equal value pursuant to a transfer agreement between the Partnership and the Mutual Fund Corporation. On the Rollover Date, the Partnership received 6.5762 Resource Plus Class Shares of the Mutual Fund Corporation for each Unit held based on a net asset value of $26.0003 per Unit and a net asset value of $3.9537 per Resource Plus Class Share. The capital gains tax liability that would arise upon disposition can be deferred by retaining the Resource Plus Class Shares of the Mutual Fund Corporation.

SAM manages a family of open-ended mutual funds, a series of flow-through limited partnerships and a TSX-listed investment fund. SAM specializes in structuring and managing high quality investment products and currently has approximately $875 million in assets under management. SAM is also the portfolio manager of the Mutual Fund Corporation.

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