/CNW/ - CMP 2010 II Resource Limited Partnership (the
Partnership) announces that it has filed a preliminary prospectus
relating to an initial public offering of limited partnership units of
the Partnership (Units) in all the provinces and territories of
Canada. The maximum offering is $50 million (50,000 Units).
The Partnerships investment objective is to provide for a tax-assisted
investment in a diversified portfolio of flow-through shares and other
securities, if any, of resource companies with a view to earning income
and achieving capital appreciation for limited partners. The Partnership
will enter into share purchase agreements with resource companies under
which such companies will agree to issue flow-through shares and other
securities, if any, to the Partnership, incur Canadian Exploration
Expense (CEE) in carrying out exploration in Canada and renounce CEE
to the Partnership. Limited Partners with sufficient income will be
entitled to claim deductions for Canadian federal income tax purposes in
respect of CEE incurred and renounced to the Partnership and may be
entitled to certain investment tax credits deductible from tax payable.
The Units are being offered at a price of $1,000 per Unit, subject to a
minimum subscription of five Units for $5,000, payable in full at time
of subscription. Prior to July 1, 2012, the Partnership intends to
complete an exchange transaction with Dynamic Managed Portfolios Ltd.
(DMP Ltd.) pursuant to which limited partners will receive redeemable
DMP Resource Class shares on a tax-deferred basis. DMP Ltd. is an
open-end mutual fund corporation managed by Goodman & Company,
Investment Counsel Ltd. (Goodman & Company) which currently offers
seven classes of mutual fund shares, including the DMP Resource Class
Shares. Each class of shares constitutes a separate mutual fund. The
multiple-class structure allows investors to switch between different
classes on a tax-deferred basis and reposition their investment
portfolio to meet their individual investment requirements.
The offering is being made through a syndicate of agents led by Dundee
Securities Corporation, CIBC World Markets Inc. and RBC Dominion
Securities Inc. and includes BMO Nesbitt Burns Inc., National Bank
Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord
Genuity Corp., Desjardins Securities Inc., GMP Securities L.P., HSBC
Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Raymond
James Ltd. and Wellington West Capital Markets Inc.
CMP is a pioneer in flow-through investing, with a history dating back
to when flow-through shares were first introduced by the federal
government. Since its creation in 1984, CMP has successfully raised and
invested over $2.5 billion in companies active in exploration and
development efforts across Canada. When combined with Canada Dominion,
the two partnerships form the largest flow-through investing platform in
Canada, raising a combined total of more than $3.7 billion in assets
throughout their history.
Goodman & Company, manager of the Partnership, the flow-through limited
partnerships of CMP™ and Canada Dominion and the investment choices
within DMP Ltd., is a leading Canadian asset management company tracing
its roots back more than 50 years. It offers a wide range of wealth
management solutions through financial advisors. These include the
mutual funds and hedge funds of Dynamic Funds®, the portfolio solutions
of the Marquis Investment Program, the flow-through limited partnerships
of CMP™ and Canada Dominion and the high-net worth investment counsel of
Goodman Private Wealth Management. Goodman & Company is a wholly owned
subsidiary of DundeeWealth Inc. (TSX: DW).
Ned Goodman Investment Counsel Limited (formerly, Ravensden Asset
Management Inc.) (NGIC) is a wholly owned subsidiary of Dundee
Corporation and is led by Ned Goodman, CFA, utilizing a team of resource
specialists at Dundee Resources Limited. NGIC acts as a sub-advisor to
certain investment funds and limited partnerships established by
DundeeWealth Inc. UTA Asset Management Corp. is a Calgary-based
portfolio manager and sub-advisor providing advice in respect of
resource companies in the oil and gas sector and is led by Dean Prodan.
