| | Thu Jun 15, 2006
Initial Closing of CSCRF 2006 No.1 Flow Through Limited Partnership
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| | Initial Closing of CSCRF 2006 No. 1 Flow Through Limited Partnership
The Partnership is pleased to announce that, on Tuesday June 13 2006, it completed an initial closing of its public offering. The Partnership sold 475,885 Units for gross proceeds of $4.75 million. Final closing for the 2006 offering is expected on or about July 19, 2006.
The 2006 offering is for a maximum of $50,000,000 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 HSBC Securities (Canada) Inc., Pacific International Securities Inc., Union Securities Ltd., Berkshire Securities Inc. and IPC Securities Inc. is making the offer on a best efforts agency basis.
The investment objective of the Partnership is to invest in a diversified portfolio of Flow-Through Shares of Resource Issuers engaged in mineral or oil and gas 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 100% of the deduction available in 2006. An additional 15% Federal Investment Tax Credit may also be available to investors in some provinces on qualified Canadian Exploration Expenses.
Bolder Investment Partners has been retained as advisor to the Partnership in respect of investment and portfolio management decisions. It 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 on the Partnership and a copy of the prospectus may be obtained from any member of the offering syndicate. Details on our previous offerings in 2004 and 2005 together with information on our portfolios may be obtained form our website, www.cscrf.ca.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of such jurisdiction.
NOT FOR DISTRIBUTION IN THE UNITED STATES OR UNITED STATES WIRE SERVICES
On the behalf of the General Partner:
Stephen Wilkinson,
Chief Executive Officer,
1-888-350-8818
604-331-1223
Website: www.cscrf.ca |
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| | You can view the Next CSCRF Corporate News item: Tue Jul 25, 2006, $7.6 Million Raised For Flow-Through Investments
You can view the Previous CSCRF Corporate News item: Thu Apr 27, 2006, Early Cash Distribution for CSCRF 2005 Limited Partnership
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