TORONTO, May 22 /CNW/ - TDK (2001) General Partner Inc. (the "General Partner"), the general partner of TDK (2001) Flow-Through Limited Partnership (the "Partnership"), is pleased to announce that the Partnership will proceed with a transaction pursuant to which the Partnership's assets (other than cash) will be transferred on a tax-deferred basis to TDK Resource Fund Inc., an open-end mutual fund (the "Mutual Fund") in exchange for shares of the Mutual Fund. These shares of the Mutual Fund will be distributed to the Limited Partners of the Partnership on a pro rata basis on the dissolution of the Partnership. The transaction is expected to occur on or about June 16, 2003. Materials pertaining to the proposed transaction have been mailed to the Limited Partners.
The Mutual Fund is managed by Wayne Deans of Deans Knight Capital Management Ltd. Its investment objective is to maximize capital growth by investing its assets primarily in equities of Canadian natural resource companies including, by way of example, those engaged in mining, oil and gas, forest products, water resources and fishing, and those companies that support such industries. Natural resource companies in which the Fund invests may also include so called "royalty companies", which do not themselves carry on resource businesses but rather acquire, through purchase of equity or debt securities of a resource company, the right to participate in the revenues or profits of such resource company.
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