On November 23, 2022, a syndicate of agents led by RBC Dominion Securities Inc. completed the final closing of the initial public offering of Discovery 2022 Short Duration LP (the “Partnership”) for aggregate gross proceeds of approximately C$17.6 million.
The syndicate of agents for the offering was co-led by RBC Capital Markets and CIBC Capital Markets and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotiabank, TD Securities Inc., Manulife Securities Incorporated, Richardson Wealth Limited, iA Private Wealth Inc., Canaccord Genuity Corp., Middlefield Capital Corporation, Wellington-Altus Private Wealth Inc., Echelon Wealth Partners Inc. and Raymond James Ltd.
The objectives of the Partnership are to provide investors with capital appreciation and significant tax benefits to enhance after-tax returns to limited partners, including the deductibility of 100% of their original investment. The Partnership intends to achieve these objectives by investing in an actively managed, diversified portfolio comprised primarily of equity securities of Canadian gold mining companies.
Fasken advised the syndicate of agents with a team that consisted of Stephen Erlichman, Daniel Fuke and George Soules (Securities, Investment Products and Wealth Management) and Mitchell Thaw (Tax).