| | Thu Jun 4, 2009
Partners to Merge CSCRF and Faircourt Flow-Through Funds
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| | (Vancouver, BC, June 4, 2009) NovaDX Ventures Corp. ("NovaDX") - TSX-V: NDX and Faircourt Asset Management Inc. (Faircourt) announce the intention to merge the following Flow-Through Funds:
- Canadian Small Cap Resource Fund 2006 No. 1 LP
- Canadian Small Cap Resource Fund 2006 No. 2 LP
- Canadian Small Cap Resource Fund 2007 No. 1 LP
- Canadian Small Cap Resource Fund 2007 No. 2 LP
- Faircourt‐Canadian Small Cap Resource Fund 2008 No. 1 LP
The General Partners of the existing Canadian Small Cap Resource Funds ("CSCRF") and Faircourt/CSCRF Funds have mailed information to all flow-through Limited Partners outlining the intention, and seeking unit-holder permission, to merge the above Flow-Through Funds. If approved, the Merger will consolidate up to five Partnerships into a single fund to be called the Faircourt Resource Fund.
The Faircourt Resource Fund will have all of the assets of each of the approving Partnerships, based on a vote of Limited Partners to take place in June.
There are a number of benefits for investors to vote for the merger into the Faircourt Resource Fund. Benefits include; a reduction of costs, a tax deferred exchange, as well as continued participation in the market with greater liquidity over time. Finally, Faircourt Resource Fund provides investors with access to sound management and an expanded investment mandate.
The Fund will be managed by Faircourt Asset Management Inc. The Lead Portfolio Manager at Faircourt is Douglas Waterson. In addition to his duties in the Fund, Mr. Waterson is also the Lead Portfolio Manager for Faircourt Gold Income Corp. (FGX), a TSX listed closed-end fund that has had leading performance in the precious metals equity sector since inception of the FGX in November 2007.
This press release is not for distribution in the United States or over United States wire services.
ON BEHALF OF THE BOARD
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
For further information, please contact Charles Taerk, President, or Douglas Waterson, CFO, Faircourt Asset Management Inc at 416-364-8989 or 1-800-831-0304 or contact Rick Peterson, President, Peterson Capital 604-684-2883 rick@rickpeterson.ca |
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| | You can view the Next CSCRF Corporate News item: Tue Jun 23, 2009, Limited Partners Vote to Merge CSCRF and Faircourt Flow-Through Funds
You can view the Previous CSCRF Corporate News item: Tue Jun 24, 2008, CANADIAN SMALL CAP RESOURCE FUND 2006 No. 2 LIMITED PARTNERSHIP ("the Partnership") Unit Holders Vote in Favour of Extending Dissolution Date
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