Stone 2013 Flow-Through Limited Partnership

Stone 2013 Flow-Through Limited Partnership
Stone Asset Management Limited

Stone Asset Management Limited

March 26, 2015 15:26 ET

Stone 2013 Flow-Through Limited Partnership Completes Rollover

TORONTO, ONTARIO--(Marketwired - March 26, 2015) - Stone Asset Management Limited ("SAM"), the manager of Stone 2013 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 Stone & Co. Resource Plus Class shares (Series A) of the Mutual Fund Corporation (the "Resource Plus Class Shares") on Friday, March 13, 2015 (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 5.6310 Resource Plus Class Shares of the Mutual Fund Corporation for each Unit held based on a net asset value of $14.8156 per Unit and a net asset value of $2.6311 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 $747 million in assets under management.

Contact Information

  • Stone Asset Management Limited
    Tanya-Ann Kuriakose
    Assistant Vice-President, Internal Sales
    416-607-7384
    tanyak@stoneco.com