Novadx Appoints New Portfolio Manager for Flow Through Limited Partnerships
April 02, 2009
Novadx Appoints New Portfolio Manager for Flow Through Limited Partnerships
Novadx Ventures Corp, President & CEO, Neil MacDonald, reports:
Novadx Ventures Corp. (TSX-V:NDX) and Faircourt Asset Management Inc. (Faircourt) -- are pleased to announce the appointment of Douglas Waterson, Portfolio Manager and Chief Financial Officer of Faircourt, as the Portfolio Manager responsible for all outstanding flow through Limited Partnerships (the "LP's"), including;
FAIRCOURT CSCRF 2008 No. 1 LIMITED PARTNERSHIP
CANADIAN SMALL CAP RESOURCE FUND 2007 No. 2 LIMITED PARTNERSHIP
CANADIAN SMALL CAP RESOURCE FUND 2007 No. 1 LIMITED PARTNERSHIP
CANADIAN SMALL CAP RESOURCE FUND 2006 No. 2 LIMITED PARTNERSHIP
CANADIAN SMALL CAP RESOURCE FUND 2006 No. 1 LIMITED PARTNERSHIP
The appointment of Mr. Waterson further solidifies Faircourt's emphasis in the natural resource and precious metals sectors, and recognizes Mr. Waterson's leadership as Portfolio Manager (PM) of the Faircourt Gold Income Corp (FGX), whose 2008 performance ranks as the one of the best performing gold equities funds in Canada for 2008.
Mr. Waterson will replace Mr. Shane Meyers of Bolder Investment Partners Ltd. (Bolder), current Portfolio Manager of the LPs, who gave notice to NovaDX that he intended to retire from active portfolio management duties.
"The timing of this transition is right for me from a personal viewpoint," said Mr. Meyers, "I'm very pleased that Doug has agreed to step into the formal PM role. I've worked with him over the past year since the Faircourt and CSCRF groups have been involved in their joint flow through LP. I can't think of a better person to take on this job."
Bolder will continue to provide brokerage services, deal flow and market insight to the LPs, and Doug will apply his extensive industry knowledge and highly recognized resource expertise to our LPs. The Portfolio Management transition took place effective April 1, 2009.
About Novadx:
FAIRCOURT CSCRF 2008 No. 1 LIMITED PARTNERSHIP
CANADIAN SMALL CAP RESOURCE FUND 2007 No. 2 LIMITED PARTNERSHIP
CANADIAN SMALL CAP RESOURCE FUND 2007 No. 1 LIMITED PARTNERSHIP
CANADIAN SMALL CAP RESOURCE FUND 2006 No. 2 LIMITED PARTNERSHIP
CANADIAN SMALL CAP RESOURCE FUND 2006 No. 1 LIMITED PARTNERSHIP
The appointment of Mr. Waterson further solidifies Faircourt's emphasis in the natural resource and precious metals sectors, and recognizes Mr. Waterson's leadership as Portfolio Manager (PM) of the Faircourt Gold Income Corp (FGX), whose 2008 performance ranks as the one of the best performing gold equities funds in Canada for 2008.
Mr. Waterson will replace Mr. Shane Meyers of Bolder Investment Partners Ltd. (Bolder), current Portfolio Manager of the LPs, who gave notice to NovaDX that he intended to retire from active portfolio management duties.
"The timing of this transition is right for me from a personal viewpoint," said Mr. Meyers, "I'm very pleased that Doug has agreed to step into the formal PM role. I've worked with him over the past year since the Faircourt and CSCRF groups have been involved in their joint flow through LP. I can't think of a better person to take on this job."
Bolder will continue to provide brokerage services, deal flow and market insight to the LPs, and Doug will apply his extensive industry knowledge and highly recognized resource expertise to our LPs. The Portfolio Management transition took place effective April 1, 2009.
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.
About Faircourt:
About Faircourt:
Faircourt Asset Management Inc. is a Toronto-based investment firm that structures value added tax-advantaged investment solutions for Canadian retail investors. Since inception in 2003, Faircourt has raised more than $750 million in structured investment products, including TSX-listed closed end funds, corporate class mutual funds, flow through LP's and principal protected notes. For more information please visit www.faircourtassetmgt.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 accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press 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 more information, please contact Neil MacDonald at 604-633-2776 or send us an email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com or please contact: Charles Taerk, President and CEO or Douglas Waterson, CFO & Portfolio Manager at (416) 364-8989 or 1-800-831-0304.
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 accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press 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 more information, please contact Neil MacDonald at 604-633-2776 or send us an email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com or please contact: Charles Taerk, President and CEO or Douglas Waterson, CFO & Portfolio Manager at (416) 364-8989 or 1-800-831-0304.