| | Thu Jun 28, 2007
Canadian Small Cap Resource Fund 2007 No. 1 Limited Partnership ("The Partnership") Final Closing Of Partnership Offering -- $10.3 Million Raised For Flow-Through Investments
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| | Vancouver - June 28, 2007 -- Canadian Small Cap Resource 2007 No.1 Management Ltd., the general partner of the Partnership, is pleased to announce the second and final closing of the offering of limited partnership units on June 26, 2007. The Partnership issued and sold 338,447 units at a price of $10.00 per unit in the second closing, raising gross proceeds of $3,384,470. In combination with the initial closing which occurred on May16, 2007, the Partnership has sold a total of 1,031,054 units for gross proceeds of $10.3 million. Canadian Small Cap Resource Fund 2007 No. 1 Management Ltd. is a wholly owned subsidiary of NovaDX Ventures Corp.
The 2007 offering was made on a best efforts agency basis by a syndicate led by Blackmont Capital Inc. that includes TD Securities Inc., Berkshire Securities Inc., Canaccord Capital Corporation, Raymond James Ltd., Pacific International Securities Inc., IPC Securities Corp., Jory Capital Inc., Leede Financial Markets Inc. and Union Securities Ltd.
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 the limited partnership units. It is expected that substantially all of the investment in the units will be fully tax deductible by investors, with 100% of the deduction available in 2007. An additional 15% Federal Investment Tax Credit may also be available to investors on qualified Canadian Exploration Expenses, as may be provincial Investment Tax Credits for investors in some provinces.
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, 2005 and 2006 together with information on our portfolios may be obtained from 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 / 604-633-2776 |
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| | You can view the Next CSCRF Corporate News item: Mon Oct 15, 2007, CSCRF 2006 No. 2 LP Announces Early Cash Distribution
You can view the Previous CSCRF Corporate News item: Wed May 16, 2007, Canadian Small Cap Resource Fund 2007 No. 1 Limited Partnership ("The Partnership")
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