frontierAlt 2008 Precious Metals & Energy Flow Through Limited Partnership has completed the rollover of its assets to frontierAlt Capital Class Fund Limited, Toronto-based frontierAlt 2008 Precious Metals & Energy Inc. announced Monday.

The transfer and sale on a tax-deferred basis of all the assets of the partnership in exchange for Series A shares of frontierAlt Resource Capital Class Fund, a class of shares of frontierAlt Capital Class Fund Limited, took effect April 23.

Units of the partnership were exchanged on a tax-deferred basis for shares of the Resource Fund with equal value pursuant to a transfer agreement dated February 27, 2008 between the partnership and the frontierAlt Capital Class Fund Limited. The limited partners received 2.68622914 shares of the resource fund for each unit held, based on a net asset value per unit of $13.1182 of the partnership and a net asset value per share of $4.8835 of the resource fund.

The partnership had net assets of $4,669,179 at the time of the transfer. The capital gains tax liability that would arise upon disposition can be deferred by retaining the shares of the frontierAlt Capital Class Fund Limited.

Based in Toronto, frontierAlt Capital Corp. specializes in the manufacturing and distribution of structured products, flow-through limited partnerships and mutual funds.

IE