Details

Fund Details – Dissolved

NC Offering Size
BC Offering Size
QC Offering Size		 Maximum: $20,000,000 (2,000,000 Units)
Maximum: $5,000,000 (500,000 Units)
Maximum: $5,000,000 (500,000 Units)
Minimum: $1,500,000 (150,000 Units)
Issue Price $10.00 per Class A Unit
$10.00 per Class F Unit
Minimum Subscription $5,000 (500 Units)
Management Fee There is no management fee
Class P Units The General Partner may receive an allocation of net income by virtue of its ownership of Class P Units. The Class P Units will be entitled to an allocation of income of 30% of the balance of cumulative Ordinary Income that exceeds the amount equal to the Gross Proceeds.

Unit Price (NAV – Class A)

Dissolution Date
February 12, 2021		 Distributions Total Distributions After Tax Rate of Return*
First† Second‡ Third Warrants§
National Class $3.7975 $7.2455 $1.6256 $12.6686 114.98%
BC Class $4.3985 $11.6106 – $16.0091 192.11%
Quebec Class $4.2942 $7.4771 – $11.7713 161.32%

Unit Price (NAV – Class F)

Dissolution Date
February 12, 2021		 Distributions Total Distributions After Tax Rate of Return*
First† Second‡ Third Warrants§
National Class $3.9313 $7.4790 $1.6999 $13.1102 117.42%
BC Class $4.4938 $11.8416 – $16.3354 195.20%
Quebec Class $4.4705 $7.7807 – $12.2512 164.79%

† – First distribution date, September 16, 2020
‡ – Second and final distribution date, February 10, 2021
§ – Third Warrants date February 12, 2022. Further distribution to unitholders flowing from the exercise of warrants and subsequent sale of the shares issuable upon such exercise, within the portfolio. For tax purposes, the distribution is treated as capital gains in the year in which the resulting shares from the exercise of each warrant position are sold. As such, please report the following capital gains in your tax return.
* – The after-tax rate of return is based on a purchase by an Ontario resident paying tax at 53.53% (Ontario’s highest Marginal Tax Rate) and includes any applicable CEE Deduction, Federal ITC and Provincial ITC.
** – Portfolio Manager: – Mr. Glenn MacNeill was the Advising Representative (Portfolio Manager) for the Probity Mining 2019-II Short Duration Flow-Through Limited Partnership (“LP”). On January 19, 2023, Mr. MacNeill retired and Mr. Firas Abbasi Advising Representative (Portfolio Manager) has assumed responsibilities for the LP.

Investment Documents

  • 2021 Independent Review Committee Report (English)
  • Financial Statements December 2019 (English)
  • Annual Management Report 2019 (English)
  • Financial Statements June 2020 (English)
  • Semi Annual Management Report June 2020 (English)
  • Quarterly Portfolio Disclosure Summary (English)
  • Trade Matching Statement (English)
  • Proxy Votes (English)
  • Proxy Voting Policy & Procedures (English)

Tax Documents

Tax Shelter Numbers

Federal TS088963
Québec QAF-19-01769

Offering Costs Write-Off Schedule (click here)
Capital Gains From Warrants (click here)