Details

Portfolio Manager

Firas Abbasi

Advising Representative (Portfolio Manager), Qwest Investment Fund Management Ltd.

Fund Details – Dissolved

NC Offering Size
BC Offering Size
QC Offering Size		 Maximum: $20,000,000 (2,000,000 Units)
Maximum: $10,000,000 (1,000,000 Units)
Maximum: $10,000,000 (1,000,000 Units)
Minimum: $1,500,000 (150,000 Units)
Issue Price $10.00 per Class A Unit
$10.00 per Class F Unit
Minimum Subscription $5,000 (500 Units)
Management Fee There is no management fee
Class P Units The General Partner may receive an allocation of net income by virtue of its ownership of Class P Units. The Class P Units will be entitled to an allocation of income of 30% of the balance of cumulative Ordinary Income that exceeds the amount equal to the Gross Proceeds.

Unit Price (NAV – Class A)

Dissolution Date
February 13, 2023		 Distributions Total Distributions After Tax Rate of Return*
First† Second‡ Third Warrants§
National Class $1.5721 $1.6349 – $3.2070 -36.45%
BC Class $1.5090 $2.1547 – $3.6637 -15.44%
Quebec Class $1.5137 $0.8438 – $2.3575 -32.57%

Unit Price (NAV – Class F)

Dissolution Date
February 13, 2023		 Distributions Total Distributions After Tax Rate of Return*
First† Second‡ Third Warrants§
National Class $1.6317 $1.7001 – $3.3318 -34.58%
BC Class $1.5447 $2.2073 – $3.7520 -12.98%
Quebec Class $1.5881 $0.8888 – $2.4769 -29.94%

† – First distribution date, Setpember 13, 2022
‡ – Second and final distribution date, January 31, 2023
§ – further distribution to unitholders flowing from the exercise of warrants and subsequent sale of the shares issuable upon such exercise, within the portfolio. For tax purposes, the distribution is treated as capital gains in the year in which the resulting shares from the exercise of each warrant position are sold. As such, please report the following capital gains in your tax return.
* – The after-tax rate of return is based on a purchase by an Ontario resident paying tax at 53.53% (Ontario’s highest Marginal Tax Rate) and includes any applicable CEE Deduction, Federal ITC and Provincial ITC.
** – Portfolio Manager: – Mr. Glenn MacNeill was the Advising Representative (Portfolio Manager) for the Probity Mining 2021-II Short Duration Flow-Through Limited Partnership (“LP”). On January 19, 2023, Mr. MacNeill retired and Mr. Firas Abbasi Advising Representative (Portfolio Manager) has assumed responsibilities for the LP.

Investment Documents

  • 2023 Independent Review Committee Report (English)
  • Quarterly Portfolio Disclosure (English)
  • Semi Annual Management Report June 2022 (English)
  • Semi Annual Financial Statements June 2022 (English)
  • Proxy Votes 2022 (English)
  • Quarterly Portfolio Disclosure (English)
  • Annual Management Report December 2021 (English)
  • Financial Statements December 2021 (English)
  • 2022 Independent Review Committee Report (English)
  • Quarterly Portfolio Disclosure (English)
  • Final Prospectus (English | Français)
  • Proxy Votes 2021 (English)
  • 2021 Independent Review Committee Report (English)
  • Trade Matching Statement (English)

Tax Documents

Tax Shelter Numbers

Federal TS092767
Québec QAF-21-01966

CUSIP Numbers

National Class A – 74277L104
National Class F – 74277L203
BC Class A – 74277L112
BC Class F – 74277L302
Quebec Class A – 74277L401
Quebec Class F – 74277L500

Issue Cost Deduction Summary (click here)