On February 28, 2008, Creststreet announced that it had completed the initial closing for its initial public offering of units of Creststreet 2008 Limited Partnership. The available funds from the offering will be invested in flow-through shares of resource companies engaged in oil, natural gas, renewable energy and mining exploration and development in Canada. Creststreet expects investors to receive tax deductions equal to 100% of the amount invested for the 2008 taxation year.
The offering was made through a syndicate of investment dealers led by Scotia Capital Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc., and includes National Bank Financial Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corporation, GMP Securities L.P., Peters & Co. Limited, Raymond James Ltd., Macquarie Capital Markets Canada Ltd. and Tristone Capital Inc.
Fasken Martineau advised the dealer syndicate with a team comprised of Anil Aggarwal, Wojtek Baraniak and Mitchell Thaw (tax), assisted by student-at-law Jared Gordon.