Scotiabank leads closing of Flow-Through Limited Partnership

On March 22, 2018 a syndicate of agents led by Scotiabank completed the final closing of Maple Leaf Short Duration 2018 Flow-Through Limited Partnership (the "Partnership"), for aggregate gross proceeds of just over $18 million. The Partnership issued 290,779 National Class units, designed to provide holders with an investment in a diversified portfolio of flow-through shares of resource companies incurring eligible expenditures across Canada. It also issued 429,280 Québec Class units, designed to provide holders with an investment in a diversified portfolio of flow-through shares of resource companies incurring eligible expenditures principally in the province of Québec. Units of both class types are intended to maximize tax benefits and achieve capital appreciation. Holders of National Class units are residents of Canada or liable to pay Canadian income tax. Québec Class units are for investors who reside in Québec or are liable to pay income tax in Québec. Investment portfolios for both will be managed to undertake a future liquidity event, such as a rollover, into a mutual fund corporation. Fasken was advisor to Scotiabank with a team consisting of Anil Aggarwal, Daniel Fuke, Matthew Downer and Mitchell Thaw.