NCE Diversified Flow-Through (16) Limited Partnership determines not to undertake a second closing

TORONTO, ON--(Marketwired - April 01, 2016) - NCE Resources Group announces that NCE Diversified Flow-Through (16) Limited Partnership (the "Partnership") has determined not to undertake a second closing. The Partnership completed its initial closing on February 19, 2016, raising gross proceeds of $25 million and issuing 1,000,000 limited partnership units of the Partnership.

Flow-through shares
The Partnership has been created for the purpose of investing in flow-through shares of resource companies engaged in oil and gas exploration, development and/or production, or mineral exploration, development and/or production, or renewable energy exploration and development, and related resource business issuers such as pipeline or service companies and utilities. The allocation of the Partnership's investment portfolio will be determined based on the investment opportunities available at the time of investment. The Partnership will endeavour to invest all proceeds available for investment in flow-through shares on or before December 31, 2016.

Objective of the Partnership 
The objective of the Partnership is to achieve capital appreciation and to maximize the tax benefits received by investors. The Partnership will initially invest in flow-through shares of resource companies.

Tax benefits
Investors will be eligible to receive tax benefits through participation in the Partnership, which is expected to include a deduction in 2016 of an amount equal to approximately 100% of their investment based on completion of the maximum offering and on certain other assumptions as set forth in the Partnership's final prospectus dated January 28, 2016. 

Manager and portfolio advisor
The general partner, NCE Diversified Management (16) Corp. (the "General Partner") has retained Sentry Investments Inc. ("Sentry") as the manager of the Partnership, to direct the business, operations and affairs of the Partnership and provide day-to-day management services to the Partnership on behalf of the General Partner, including, without limitation, the provision of advice on and the management of the investment portfolio of the Partnership.

General Partner 
The General Partner is a corporation incorporated under the laws of the Province of Ontario. The General Partner is a member of NCE Resources Group, which is an oil and gas, and metals and mining investment management organization specializing in energy investments and providing a full range of technical, operational, administrative and investor services. Since 1984, NCE Resources Group has invested or managed the investment of approximately $4.7 billion in the acquisition, development and exploration of resource properties and securities of resource issuers, and has entered into drilling, joint venture and other similar arrangements with oil and gas and metals and mining industry participants.

Agents
The syndicate of agents, co-led by RBC Capital Markets, CIBC and National Bank Financial, includes BMO Capital Markets, Scotia Bank, TD Securities Inc., GMP Securities L.P., Manulife Securities Incorporated, Canaccord Genuity Corp., Desjardins Securities Inc., Raymond James Ltd., Dundee Securities Ltd., Industrial Alliance Securities Inc., Laurentian Bank Securities, Inc. and Mackie Research Capital Corporation.

SENTRY INVESTMENTS INC.

Sentry Investments was founded in 1997 and is one of Canada's fastest-growing independent asset management companies. Sentry manages over $18 billion in assets on behalf of more than 500,000 Canadian investors. Sentry offers a diverse range of award-winning investment products, available through financial advisors, including domestic and global mutual funds and separately managed accounts.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "intend," "will" and similar expressions to the extent that they relate to the Partnership. Forward-looking statements in this news release include statements regarding the eligibility and receipt of tax benefits by investors through participation in the Partnership. The forward-looking statements are not historical facts but reflect the General Partner's and Sentry's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the General Partner and Sentry believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the General Partner nor Sentry undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

Sentry Investments Inc.
Commerce Court West
199 Bay Street, Suite 2700
P.O. Box 108
Toronto, ON M5L 1E2