Investment fund manager Global Growth Assets Inc. said Monday it has entered into an agreement to acquire the assets of MineralFields Group and its affiliated companies Pathway Asset Management and EnergyFields Group.
The agreement is subject to regulatory approval.
MineralFields is well-known in the Canadian marketplace for its tax-advantaged flow-through shares in the mining and oil and gas sectors through flow-through limited partnerships.
MineralFields and EnergyFields Group are mining and energy resource funds respectively, with significant assets under administration offering tax-advantaged flow-through limited partnerships to investors. Pathway specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Fund Inc. corporate-class mutual fund series). MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies, and have raised over $1 billion in their 10 year history.
Commenting on the acquisition, Sam Bouji, chairman and CEO of Global, said: We’ve made a number of acquisitions in the past; however, the MineralFields acquisition is a key strategy and will position Global for future growth. Global will continue its strategy of identifying and aligning itself with acquisitions into the future.”
The current business model for MineralFields will be maintained under Global and the new trade names will include the Global name, that is – Global MineralFields Group, Global Pathway Asset Management, and Global EnergyFields Group.
Global Growth Assets, a subsidiary of the Toronto-based Global group of companies, identifies and aligns itself with tax-advantaged and tax-efficient financial products for Canadians. Global says its corporate strategy includes organic and acquisitive growth in both product and distribution.
The Global group of companies also includes investment dealer Global Maxfin Capital Inc., mutual fund dealer Global Maxfin Investments Inc., Global RESP Corporation and Global Insurance Solutions Inc.