The assets of the Partnership will be transferred to the Mutual Fund in exchange for shares of the Mutual Fund having an aggregate net asset value equal to the value of the transferred assets. These transfers will occur on a tax-deferred basis. As of April 30, 2009, the Partnership will be dissolved and Limited Partners will automatically become shareholders of the Mutual Fund effective immediately.
Shares of the Mutual Fund will be redeemable by shareholders at their net asset value on the last business day of each week commencing on May 15, 2009 under the fund code LAW301. Investors who wish to redeem their Mutual Fund shares must contact their brokers or dealers to exercise the redemption option. The redemption price for Mutual Fund shares will be paid within three business days. There is no redemption fee.
Lawrence Asset Management Inc. is Manager and AGS Resource Management Inc. is Portfolio Consultant to the Mutual Fund. The Mutual Fund’s investment objective is to achieve long-term capital growth by investing primarily in equity securities of Canadian resource issuers engaged in oil and gas exploration and to a lesser extent, mining exploration. The manager and the consultant will assist the Mutual Fund in selecting investments in common shares and other securities of resource issuers, including junior resource issuers, in accordance with the investment strategies that may include short selling of securities. The Mutual Fund is not a reporting issuer.