| | Tue Sep 27, 2005
CSCRF Initial Closing of 2005 Flow Through Limited Partnership
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| | The Partnership is pleased to announce that, on Friday September 23 2005, it completed an initial closing of its public offering. The Partnership sold 431,188 Units for gross proceeds of $4.31 million. Final closing for the 2005 offering is expected on or about October 25, 2005.
The 2005 offering is for a maximum of $20,000,000 and is made only by way of the prospectus. The Units are priced at $10.00 per Unit, with a minimum subscription of 250 Units ($2,500). A syndicate led by Blackmont Capital Inc. including Wellington West Capital Inc., Research Capital Corporation, Pacific International Securities Inc., and Union Securities Ltd. is making the offer on a best efforts agency basis.
The investment objective of the Partnership is to invest in Flow-Through Shares of Junior and Small Cap Resource Issuers engaged in mineral exploration in Canada, with a view to maximizing the tax benefit of an investment in Units. It is expected that substantially all of the investment in the Units will be fully tax deductible, with approximately 90% of the deduction available in 2005. An additional 15% Federal Investment Tax Credit may also be available to investors in some provinces on qualified Canadian Exploration Expenses.
Investments will be made with the intent to create a diversified mineral portfolio. Bolder Investment Partners will manage the investment portfolio with a view to capital appreciation on the Partnership's investments. The investment strategy is to invest in Flow-Through Shares of Resource Issuers that are considered to represent good value, have experienced and capable senior management, have a strong exploration program in place and offer potential for future growth.
Further information and a copy of the prospectus may be obtained from any member of the offering syndicate.
For further information:
Stephen Wilkinson,
Chief Executive Officer,
888-350-8818
604-331-1223
Website: www.cscrf.ca |
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| | You can view the Next CSCRF Corporate News item: Thu Oct 27, 2005, CSCRF Final Closing of 2005 Flow Through Limited Partnership
You can view the Previous CSCRF Corporate News item: Tue Jun 28, 2005, Canadian Small Cap Resource Funds 2005 No. 1 Limited Partnership
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