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49 North Resource Flow-Through Limited Partnerships
49 North Resource Flow -Through Funds are established and offer flow-through closed units to the public on an annual or more frequent basis. Flow-Though Closed Units may only be offered and purchased pursuant to a prospectus.
NOTE: There are no flow-through funds offered at this time.
How the 2009 Flow Through LP Roll-Over was calculated?
The flow through money that was raised will be invested predominately in private companies in order to retain unit value before the rollover for new investors while garnering the Canadian Exploration Expense in 2009.
At the beginning of February 2010, 49 North 2009 F-T LP will roll over into FNR shares. The rollover will be NAV to market price.
The NAV of 49 North LPwill be calculated at December 31, 2009 and the market price of FNR will be the weighted average trading price of the last 60 days of 2009. There will be a small premium which will cover any administration costs.
For example: The unit price of LP II is $10/unit. At the end of December 2009, if the NAV is $9 and the market price of FNR is $3.00 then you get 3 shares of FNR for every $10 unit.
Dilution:
$2,000,000 raised (2008 LP II) / $10 per unit = 200,000 units
200,000 units x 3 shares = 600,000 new FNR shares
Add 600,000 shares to the number of outstanding shares and you have a new total numer of shares outstanding.
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49 North Resources Inc. |
