Re: From other board - Anyone understand this?
in response to
by
posted on
Oct 17, 2012 07:43PM
Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.
I think Marquest would now be the 2nd largest FNC shareholder...am I correct?
TORONTO, ONTARIO, Oct 15 (MARKET WIRE) --
Marquest Asset Management Inc. (Marquest) announced that following
receipt of all required shareholder and regulatory approvals, it has
completed the purchase of all or substantially all of the assets of
MineralFields Fund Management Inc., Pathway Investment Counsel Inc.
(Pathway) and Limited Market Dealer Inc. The transaction includes the
agreements pursuant to which Pathway acted as the portfolio manager of
the following limited partnerships (Limited Partnerships):
Pathway Quebec Mining 2010-II Flow-Through Limited Partnership
Pathway Mining 2010-II Flow-Through Limited Partnership
Pathway 2010 GORR Limited Partnership
Pathway Mining 2011 Flow-Through Limited Partnership
Pathway Quebec Mining 2011 Flow-Through Limited Partnership
(the Pathway Limited Partnerships)
MineralFields 2010-VI Super Flow-Through Limited Partnership
MineralFields 2011 Super Flow-Through Limited Partnership
MineralFields 2011-II Super Flow-Through Limited Partnership
MineralFields 2011-III Super Flow-Through Limited Partnership
MineralFields 2011-V Super Flow-Through Limited Partnership
MineralFields 2011-VI Super Flow-Through Limited Partnership
MineralFields Quebec 2011 Super Flow-Through Limited Partnership
MineralFields B.C. 2011 Super Flow-Through Limited Partnership
EnergyFields 2011 Special Flow-Through Limited Partnership
Pathway Oil & Gas 2010 GORR Limited Partnership
Pathway Oil & Gas 2011 GORR Limited Partnership
(the MineralFields Limited Partnerships)
The consummation of the transaction resulted in a change of the portfolio
manager of the Pathway Limited Partnerships and the MineralFields Limited
Partnerships from Pathway to Marquest. In addition, the voting shares of
Pathway Quebec Mining 2010-II Inc., Pathway Mining 2010-II Inc., Pathway
2010 GORR Inc., Pathway Mining 2011 Inc., Pathway Quebec Mining 2011
Inc., Pathway Oil & Gas 2010 GORR Inc., Pathway Oil & Gas 2011 GORR Inc.,
MineralFields 2010-VI Inc., MineralFields 2011 Inc., MineralFields
2011-II Inc., MineralFields 2011-III Inc., MineralFields 2011-V Inc.,
MineralFields 2011-VI Inc., MineralFields Quebec 2011 Inc., MineralFields
B.C. 2011 Inc. and EnergyFields 2011 Inc. were also transferred to
Marquest as part of the transaction.
The portfolio management responsibilities for the Limited Partnerships
will now be performed by Gerry Brockelsby and Alice Tsang of Marquest,
with support from Josephine Franks, Marquest's current Trader/Analyst.
This Marquest team has worked together for many years and has extensive
experience in portfolio management and research in the resource sector.
As a result of the change of portfolio manager of the Pathway Limited
Partnerships, the members of the existing independent review committee
(IRC) of the Pathway Limited Partnerships had their appointment
automatically terminated, in accordance with the requirements of National
Instrument 81-107. Marquest has accordingly reconstituted the IRC for the
Pathway Limited Partnerships, with William D. Packham, John R. Anderson
and Jeremy Zuker agreeing to serve as the IRC of the Pathway Limited
Partnerships.
Except as described above, Marquest has no current intention to change
the operations of the Limited Partnerships, including, in particular, no
current intention to change their investment objectives or strategies
(including provisions relating to use of derivatives or securities
lending), fee structures, sub-advisors, auditors or custodian.
Marquest is a diversified Canadian asset management firm incorporated in
1985. The firm offers a range of investment products and solutions to
retail and institutional investors.