Creststreet is a performance driven, independent asset management firm, founded on the premise that commodities are an increasingly scarce resource that will increase in value over time, providing attractive long-term investment opportunities.
Since its inception in 2000, Creststreet has raised over $1 billion for resource investments. Creststreet has built a committed investment management team with more than 30 years of combined resource investment experience. Creststreet seeks to provide its investors superior, risk adjusted returns in unique core and specialty products by combining our rigorous internal research processes with our active portfolio management style.
Creststreet 2008 Limited Partnership
Investment Objective:
Creststreet 2008 General Partner Limited (the ''General Partner''), on behalf of the Partnership, invested in Flow-Through Securities issued by Resource Issuers engaged in oil and gas, mining or renewable energy exploration and development in Canada or that invest in securities of entities engaged in such activities. Investments made by the General Partner on behalf of the Partnership were made having regard to the guidelines described herein. The General Partner invested the net proceeds of the Offering such that Limited Partners were entitled to claim certain deductions from income for income tax purposes for the 2008 taxation year and subsequent taxation years and may be entitled to certain non-refundable investment tax credits deductible from tax payable.
DescriptionSummary of Key Dates:
| February 28, 2008 | Initial Closing. Investors purchase Units and pay
subscription price of $10 per Unit. |
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| March 2009 | Limited Partners receive 2008 CEE tax receipt. |
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| May 28, 2010 | Dissolution Date. Partnership was dissolved and Mutual Fund Shares of Creststreet Resource
Fund were distributed to Limited Partners. |
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| After May 28, 2010 | Redemption. Payment for Mutual Fund Shares subject to notices of redemption
will be made weekly on the third business day following the
next Valuation Date based on the net asset value of the Creststreet
Resource Fund on such Valuation Date. |
Mutual Fund Rollover Transaction and Termination of the Partnership: The General Partner implemented an exchange transaction pursuant to which the Partnership transfered its assets to Creststreet Mutual Funds Limited (the "Mutual Fund Corporation"), an open-end mutual fund corporation managed by Creststreet. The Mutual Fund Corporation currently has three classes of mutual fund shares, each of which is a mutual fund for securities law purposes (a "Creststreet Fund") with its own investment objectives and strategies, including the Creststreet Resource Fund which invests primarily in equity securities of Canadian resource issuers. In exchange for the Partnership's assets, the Mutual Fund Corporation issued Mutual Fund Shares of the Creststreet Resource Fund to the Partnership. Immediately thereafter, the Partnership dissolved and the Mutual Fund Shares were distributed pro rata to Limited Partners. This exchange occured on a "roll-over" basis and will not result in any tax consequences to Limited Partners. Limited Partners will be able to redeem their Mutual Fund Shares or switch to another Creststreet Fund at any time on or after May 28, 2010. A redemption of a Mutual Fund Share will generally result in a capital gain. A switch to another Creststreet Fund will not result in a capital gain or loss.
Investment Porfolio
Press Releases2010-05-31: : Creststreet Completes Rollover of Creststreet 2008 Limited Partnership into Creststreet Resource Fund [PDF file]
2010-06-04: : Letter to Unitholders: Creststreet 2008LP rollover to Creststreet Resource Fund [PDF file]
2010-04-27: : News Release: Creststreet 2008 Limited Partnership sets rollover date into Creststreet Resource Fund [PDF file]
2009-12-15: : LETTER TO UNITHOLDERS: Creststreet 2008 Limited Partnership Extends Date of Rollover [PDF file]
2009-12-15: : NEWS RELEASE: Creststreet 2008 Limited Partnership Extends Date of Rollover [PDF file]
2009-10-22: : LETTER TO UNITHOLDERS: Investment Update on Creststreet 2008 Limited Partnership [PDF file]
2008-02-28: News Release: Creststreet Completes Initial Closing of 2008 Flow-Through Fund Offering [PDF file]
2008-02-20: News Release: Creststreeet Files Final Prospectus for 2008 Flow-Through Fund with a scheduled closing date of February 28, 2008 [PDF file]
2008-01-11: News Release: Creststreet Files Preliminary Prospectus for 2008 Flow-through Fund [PDF file]
Corporate InformationCorporate Information
| Officers & Directors | Position with the General Partner | Principal Occupation | ||||
| Robert J. Toole Toronto, Ontario |
| | President, Chief Executive Officer and Director | President, Chief Executive Officer and Managing Director of Creststreet | |||
| Jeffrey S. Boyce1 Calgary, Alberta |
| | Director | President, Chief Executive Officer and Director of SURE Energy Inc. | |||
| Stuart P. Hensman1 Toronto, Ontario |
| | Director | Member of the Board of Governors of the mutual funds managed by CI Investments and a director of Rifco Inc. and Brazalta Resources Corp. | |||
| John E. Thompson1 Calgary, Alberta |
| | Director | President, Chief Executive Officer and a director of Sirius Energy Inc. | |||
| Donna E. Shea Toronto, Ontario |
| | Vice President, Finance and Chief Financial Officer | Vice President, Finance, Chief Financial Officer and a director of Creststreet | |||
| Michael D. Clare Toronto, Ontario |
| | Vice President | Vice President and a director of Creststreet | |||
| Sheryl J. Chiddenton Toronto, Ontario |
| | Vice President, Secretary-Treasurer | Vice President, Compliance and Investment Services, Secretary-Treasurer and a director of Creststreet | |||
1 (Independent Director and Member of the IRC and Audit Committees)
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Lead Agent
Legal Counsel
Auditors
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Registered Address
Tel: (416) 864-6330
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Financial Statements2009-08-28: : Interim Report: Creststreet 2008 LP - June 30, 2009 [PDF file]
2009-03-26: : Annual Report as at December 31, 2008 [PDF file]
2008-08-29: : Interim Report as at June 30, 2008 [PDF file]
Investor Tax InformationInvestor Tax Information - 2010
Investor's Final Tax Packages for the 2010 tax year were mailed to investors the week of August 23, 2010.
The sample T5013A and Relevé 15 tax slips shown below are pro-forma samples for an investor holding 1,000 units. These tax slips are provided for reference purposes only, but can be utilized to obtain tax information for any investor by pro-rating the tax information as necessary. THESE ARE GENERIC SAMPLE TAX SLIPS AND ARE NOT TO BE REMITTED TO CRA. For specific instructions on completing your tax return, please refer to the Tax Return Completion Checklist provided below.
Sample Tax Package
- Letter to Unitholders
- T5013A - Sample Statement of Partnership Income for Tax Shelters and Renounced Resource Expenses
- Relevé 15 - Sample Statement of Losses, Deductions and Tax Credits
- Schedule of Amortization of Issue Costs
- Tax Return Completion Checklist - T1 General - Federal
- Tax Return Completion Checklist - TP-1 - Quebec
- T1229 - Statement of Exploration and Development Expenses and Depletion Allowance
- T5004 - Statement of Tax Shelter Loss or Deduction
- TP-1079.6-V - Statement of Losses, Deductions and Tax Credits Respecting a Tax Shelter
Adjusted Cost Base
Final Prospectus