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Front Street Flow-Through 2006-I Limited Partnership And Front Street Flow-Through 2006-II Limited Partnership Rollover and Dissolution
TORONTO, Jan. 16 /CNW/ - Front Street Flow-Through 2006-I Limited Partnership (the "2006-I Partne...
About this update from Hayasa Metals Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Jan. 16 /CNW/ - Front Street Flow-Through 2006-I Limited\nPartnership (the "2006-I Partnership") and Front Street Flow-Through 2006-II\nLimited Partnership (the "2006-II Partnership") announced that they will be\nproceeding with the direct and indirect tax-deferred transfer of the assets of\neach of the 2006-I Partnership and 2006-II Partnership (the "Mutual Fund\nRollover Transaction") into the Front Street Resource Opportunities Fund of\nFront Street Opportunity Funds Ltd. (the "Rollover Fund"). The transaction\nwill take place on January 31, 2008 after the close of business. In exchange\nfor the assets, Rollover Fund Series B Shares will be issued to the 2006-I\nPartnership and 2006-II Partnership and then distributed to individual limited\npartners. Both of these partnerships will be dissolved on or about February 1,\n2008.\n\n\nRedemption Option: Series B Shares are in book entry only form.\nConsequently, limited partners of the 2006-I Partnership and 2006-II\nPartnership who want to redeem their Series B Shares must contact their\nbrokers or dealers to exercise the redemption option. When shares are\nredeemed, the Rollover Fund will send the shareholder the proceeds within\nthree business days after the calculation date for the net asset value used in\nestablishing the redemption price. The Series B Shares issued under the Mutual\nFund Rollover Transaction will be able to be redeemed through FundServ as soon\nas possible after the rollover, once the individual holders' investment\nadvisor has reconciled the positions with FundServ.\n\n\nThe Rollover Fund: The Rollover Fund is a fund of Front Street\nOpportunity Funds Ltd. which is a mutual fund corporation incorporated under\nthe laws of Canada, with Gary Selke as its Chief Executive Officer. It head\noffice is located at 33 Yonge Street, Suite 600, Toronto, Ontario. Rollover\nFund securities are sold under a continuous offering prospectus. The Rollover\nFund is a reporting issuer for securities law purposes in all provinces and\nterritories of Canada.\n\n\nThe Rollover Fund is advised by Front Street Investment Management Inc.,\nthe same investment advisor that has advised both 2006-I Partnership and\n2006-II Partnership. The fund's investment objective is primarily to achieve\ncapital appreciation through investmen...