| | Wed Nov 7, 2007
CANADIAN SMALL CAP RESOURCE FUND 2007 No. 2 LIMITED PARTNERSHIP ("the Partnership") Final Closing of Partnership Offering - $5.0 Million Maximum Raised For Flow-Through Investments
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| | Vancouver, BC - November 7, 2007 - Canadian Small Cap Resource 2007 No.2 Management Ltd., the General Partner of the Partnership, is pleased to announce the final closing of the offering of limited partnership units on November 7, 2007. The Partnership issued and sold 500,000 units at a price of $10.00 per unit, raising gross proceeds of $5,000,000, the maximum amount of the offering.
The 2007 offering was made on a best efforts agency basis by a syndicate led by Blackmont Capital Inc. that includes Raymond James Ltd., TD Securities Inc., Berkshire Securities Inc., Canaccord Capital Corporation, IPC Securities Corporation, Jory Capital Inc., GMP Securities L.P., and Research Capital Corporation.
"We're very pleased to have achieved the $5 million maximum in this offering, thanks to great support from our syndicate and selling group members," said Rick Peterson, President of the General Partner.
"This is a sign of our growing reputation in the flow-through sector, given that we've raised more than $37 million in flow-through funds since the CSCRF inception in 2004, including $15.3 million this year," said Peterson.
"This puts us in a strong position, with the help of our parent, NovaDX Ventures Corp., to support promising junior exploration companies in Canada through investment and by providing strategic advice."
Canadian Small Cap Resource Fund 2007 No. 2 Management Ltd. is a wholly owned subsidiary of NovaDX Ventures Corp.
The Partnership's objective is to invest in a diversified portfolio of Flow-Through Shares of Resource Issuers engaged primarily 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 is 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, 2006 and 2007 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 behalf of the General Partner:
Rick Peterson
President
604-684-2883
About the CSCRF Group: Canadian Small Cap Resource Funds is a leading, Vancouver-based investment management company that creates and distributes limited partnerships that invest in flow-through shares of Canadian junior mining and energy companies. CSCRF is a subsidiary of NovaDX Ventures Corp (NDX-V). For more information on the CSCRF Group, please visit www.cscrf.ca.
About NovaDX Ventures: NovaDX is a Vancouver-based investment firm whose primary focus is on providing merchant banking and other business advisory services to micro-cap natural resource issuers, a largely overlooked but important sector of the equity markets. NovaDX's business plan involves seeking out investment opportunities in companies that have quality management and projects that demonstrate an above average opportunity for new resource discoveries. NovaDX works closely with management of these companies with the objective of mitigating risk and enhancing the value of its investments. NovaDX intends to pursue opportunities in North America and abroad. NovaDX seeks a return on its investments supplemented with revenue from investment banking, investment management and advisory services. For more information please visit www.novadx.com.
For more information, call Rick Peterson or Adam Ho at 604-633-2776. |
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| | You can view the Next CSCRF Corporate News item: Mon Dec 24, 2007, Faircourt CSCRF 2008 No. 1 Limited Partnership Files Preliminary Prospectus
You can view the Previous CSCRF Corporate News item: Mon Oct 15, 2007, CSCRF 2006 No. 1 LP Announces Early Cash Distribution
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