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Triax Resource Limited Partnership II meeting of limited partners

TORONTO, Jan. 24 /CNW/ - Triax Resource (II) General Partner Inc., the General Partner of Triax Resource Limited Partnership II, is pleased to announce that at a meeting of the Limited Partners held yesterday, the Limited Partners approved the following:

  1. A special resolution granting Altamira Management Ltd., the Partnership's investment advisor, an expanded investment mandate to include companies that engage in the exploration, production, transportation and distribution of all forms of energies, and in companies that support them. This may include, but would not be limited to, companies in the oil and gas, electricity, pipeline and industrial sectors, and alternative energies. The expanded mandate is designed to take advantage of the following emerging investment themes: the BTU convergence, the environmental challenge, deregulation, privatization and consolidations.
  2. A special resolution granting the General Partner the authority to implement a monthly redemption feature. Under this redemption plan, monthly redemptions will be subject to a redemption fee of 2% of the net asset value of the units on the applicable redemption date. The General Partner anticipates implementing this redemption right by the middle of February and in any event no later than the middle of March.

Triax Resource Limited Partnership II trades on The Toronto Stock Exchange under the symbol TXL.UN.

For further information: please call the General Partner at (416) 362-2929 or (800) 407-0287