MineralFields Group Announces Sale of Assets (Including Pathway Asset Management and EnergyFields Group) to Global Financial Group of Companies
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 01/09/12 -- The MineralFields Group is pleased to announce that it has entered into an agreement with the Global Financial group of companies and its investment fund manager, Global Growth Assets Inc. ("Global") to sell to Global the assets of MineralFields Group and its affiliated entities Pathway Asset Management and EnergyFields Group (collectively "MineralFields"), which include flow-through limited partnerships branded as Pathway, MineralFields and EnergyFields flow-through LPs, and includes the mutual fund Pathway Multi Series Fund Inc. Completion of the transaction is subject to applicable conditions precedent and regulatory approvals. Approval of the holders of mutual fund shares of Pathway Multi Series Fund Inc. is required through a vote in early February, because the transaction involves a change of investment fund manager from MineralFields Fund Management Inc. to Global Growth Assets Inc.
MineralFields is well-known for its tax advantaged flow-through products in the mineral exploration and oil and gas industries through flow-through limited partnerships, while Global is a leading Canadian independent financial services company that identifies and aligns itself with tax advantaged and tax efficient financial product solutions for Canadians.
Mr. Joe C. Dwek, President of MineralFields, referred to the acquisition as the right opportunity for Global to pursue its strategic plans in both the resource sector and the tax-advantaged product space. Global was seen as having the vision to take MineralFields to the next level now that MineralFields has completed 10 successful years.
About Pathway Asset Management: Pathway Asset Management specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Fund Inc. corporate-class mutual fund series).
About MineralFields Group and EnergyFields Group: MineralFields Group and EnergyFields Group (divisions of Pathway Asset Management), based in Toronto, Vancouver, Montreal and Calgary, are mining and energy resource funds respectively, with significant assets under administration, offering tax-advantaged flow-through limited partnerships to investors. MineralFields and Pathway have financed several hundred mining, and oil and gas, exploration companies, and have raised over $1 billion in their 10 year history.
Information on MineralFields and Pathway can be obtained by visiting the website or by e-mail at , by telephone at (416) 665-9339 ext 229, toll-free at 1 (800) 339-9169 ext 229, or by facsimile at (416) 665-9331.
Contacts:
Pathway Asset Management
Imtiaz Hashmani, CFO
(416) 665-9339 ext 229
Toll-Free at 1 (800) 339-9169 ext 229
(416) 665-9331 (FAX)
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Datum: 09.01.2012 - 15:20 Uhr
Sprache: Deutsch
News-ID 102188
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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