| | Thu Aug 27, 2009
Faircourt Asset Management Inc. Announces Exchange Ratios for Merger of CSCRF and Faircourt -CSCRF Funds
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| | August 27, 2009: Faircourt Asset Management Inc, as Manager for the Faircourt Resource Fund is pleased to announce the exchange ratios related to merging the 5 existing CSCRF and Faircourt CSCRF Flow-Through Limited Partnerships. The merging funds are Canadian Small Cap Resource Fund 2006 #1 Limited Partnership, Canadian Small Cap Resource Fund 2006 #2 Limited Partnership, Canadian Small Cap Resource Fund 2007 #1 Limited Partnership, Canadian Small Cap Resource Fund 2007 #2 Limited Partnership, and Faircourt-CSCRF 2008 #1 Limited Partnership.
The merger was approved by unitholders of each of the funds on June 19, 2009, and will be given an effective date of June 29, 2009.
Unitholders of each of the funds will receive units of the Faircourt Resource Fund Limited Partnership based on the NAV's of each of the funds. The ratio of the number of units of the existing funds that will be exchanged for each unit of the Faircourt Resource Fund Limited Partnership are as follows;
Canadian Small Cap Resource Fund 2006 #1 Limited Partnership 0.60956
Canadian Small Cap Resource Fund 2006 #2 Limited Partnership 0.46309
Canadian Small Cap Resource Fund 2007 #1 Limited Partnership 0.41507
Canadian Small Cap Resource Fund 2007 #2 Limited Partnership 0.17737
Faircourt-CSCRF 2008 #1 Limited Partnership 1.38286
Computershare, the Registrar and Transfer Agent for each of the funds, has been notified of the exchange ratios and will arrange for the new units to be exchanged for the existing fund units on the basis of their exchange ratios.
The new fund, Faircourt Resource Fund Limited Partnership will be managed by Douglas Waterson, Lead Portfolio Manager for Faircourt Asset Management. This fund will continue to look for opportunities to manage to maximize the value of the positions brought in from the merger while investing available cash in quality resource-oriented shares.
Unitholders who want to use the tax election available should go to www.faircourtassetmgt.com to download the tax documents (expected to be available by September 12, 2009), after consulting with their own tax advisors.
Faircourt Asset Management Inc. is the Investment Advisor for Faircourt Resource Fund Limited Partnership.
This press release is not for distribution in the United States or over United States wire services.
For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com or please contact: Faircourt Client Service (416) 364-8989 or 1-800-831-0304. |
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| | You can view the Previous CSCRF Corporate News item: Tue Jun 23, 2009, Limited Partners Vote to Merge CSCRF and Faircourt Flow-Through Funds
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