Exchange Ratios for Merger of CSCRF and Faircourt CSCRF Funds
For Immediate Release
Exchange Ratios for Merger of CSCRF and Faircourt CSCRF Funds
NovaDX Ventures Corp, President & CEO, Neil MacDonald, reports:
(Vancouver, BC, August 27 , 2009) NovaDX Ventures Corp. (“NovaDX”) ‐ TSX‐V: NDX and Faircourt Asset Management Inc, announce the exchange ratios related to merging the 5 existing CSCRF and Faircourt CSCRF Flow‐Through Limited Partnerships. The merging funds are Canadian Small Cap Resource Fund 2006 #1 Limited Partnership, Canadian Small Cap Resource Fund 2006 #2 Limited Partnership, Canadian Small Cap Resource Fund 2007 #1 Limited Partnership, Canadian Small Cap Resource Fund 2007 #2 Limited Partnership, and Faircourt CSCRF 2008 #1 Limited Partnership (the “Funds”).
The merger was approved by unitholders of each of the Funds on June 19, 2009, and will be given an effective date of June 29, 2009.
Unit holders of each of the Funds will receive units of the Faircourt Resource Fund Limited Partnership based on the NAV’s of each of the Funds. The ratio of the number of units of the existing Funds that will be exchanged for each unit of the Faircourt Resource Fund Limited Partnership are as follows;
Canadian Small Cap Resource Fund 2006 #1 Limited Partnership 0.60956
Canadian Small Cap Resource Fund 2006 #2 Limited Partnership 0.46309
Canadian Small Cap Resource Fund 2007 #1 Limited Partnership 0.41507
Canadian Small Cap Resource Fund 2007 #2 Limited Partnership 0.17737
Faircourt CSCRF 2008 #1 Limited Partnership 1.38286
Computershare, the Registrar and Transfer Agent for each of the Funds, has been notified of the exchange ratios and will arrange for the new units to be exchanged for the existing fund units on the basis of their exchange ratios.
The new fund, Faircourt Resource Fund Limited Partnership will be managed by Douglas
Waterson, Lead Portfolio Manager for Faircourt Asset Management. This fund will continue to look for opportunities to manage to maximize the value of the positions brought in from the merger while investing available cash in quality resource‐oriented shares.
Unitholders who want to use the tax election available should go to
www.faircourtassetmgt.com to download the tax documents (expected to be available by September 12, 2009), after consulting with their own tax advisors.
Faircourt Asset Management Inc. is the Investment Advisor for Faircourt Resource Fund Limited Partnership.
About NovaDX: NovaDX is a Vancouver‐based investment firm whose primary focus is on providing merchant banking and other business advisory services to micro‐cap natural resource issuers, a largely overlooked but important sector of the equity markets. NovaDX's business plan involves seeking out investment opportunities in companies that have quality management and projects that demonstrate an above average opportunity for new resource discoveries. NovaDX works closely with management of these companies with the objective of mitigating risk and enhancing the value of its investments. NovaDX intends to pursue opportunities in North America and abroad. NovaDX seeks a return on its investments supplemented with revenue from investment banking, investment fund administration and advisory services. For more information please visit www.novadx.com.
This press release is not for distribution in the United States or over United States wire services.
ON BEHALF OF THE BOARD
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of such jurisdiction.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward‐looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward‐looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward‐looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.
For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com or please contact: Faircourt Client Service (416) 364‐8989 or 1‐800‐831‐0304.