(Toronto, Ontario, February 6, 2008) – Front Street Flow-Through 2006-I Limited Partnership (the “2006-I Partnership”) and Front Street Flow-Through 2006-II Limited Partnership (the “2006-II Partnership”) announced today that they had completed the direct and indirect tax-deferred transfer of the assets of the 2006-I Partnership and the 2006-II Partnership (the “Mutual Fund Rollover Transaction”) into Front Street Opportunity Funds Ltd. (the “Rollover Fund”), as discussed in their press release of January 16, 2008. The Partnerships are being dissolved effective on or about February 7, 2008.
Class B Shares of the Front Street Resource Opportunities Fund of Front Street Opportunity Funds Ltd. (“Fund Shares”) were issued at $8.5023 each.
The final net asset value per 2006-I Partnership unit was $19.0193. 2006-I Partnership units were converted at the rate of 2.236959 Fund Shares for each 2006-I Partnership unit.
The final net asset value per 2006-II Partnership unit was $18.3098. 2006-II Partnership units were converted at the rate of 2.153511 Fund Shares for each 2006-II Partnership unit.
The Fund Shares will be able to be redeemed through FundServ as soon as possible after the rollover, once the individual holders’ investment advisor has reconciled the positions with FundServ, under FundServ Code “FSC 321”.
Additional Information: The prospectus in respect of the Fund Share distribution is available to limited partners of the Partnerships on SEDAR, at www.frontstreetcapital.com, through their broker, by calling Front Street at 1-800-513-2832.
For further information, please contact:
Front Street Capital 2004
Investor Relations 416-364-1990 or 800-513-2832
advisorservice@frontstreetcapital.com