| | Tue Jul 25, 2006
$7.6 Million Raised For Flow-Through Investments
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| | Vancouver - July 25, 2006 - the Partnership is pleased to announce the second and final closing of the offering of the fund on July 24, 2006. The total sales for the second closing amounted to 286,386 units at a price of $10.00 per unit, raising gross proceeds of $2,863,860. In combination with the initial closing announced on June 15th 2006, the Partnership has sold a total of 759,271 units for gross proceeds of $7.6 million.
The 2006 offering was made on a best efforts agency basis by 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.
The Partnership's objective 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
888-350-8818
604-331-1223 |
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| | You can view the Next CSCRF Corporate News item: Mon Sep 18, 2006, Canadian Small Cap Resource Fund 2006 No. 2 Limited Partnership Files Preliminary Prospectus
You can view the Previous CSCRF Corporate News item: Thu Jun 15, 2006, Initial Closing of CSCRF 2006 No.1 Flow Through Limited Partnership
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