A final prospectus has been filed for the initial public offering of units of Creststreet 2011 Flow-Through Limited Partnership, Creststreet Asset Management Ltd. said Monday.

The LP has a dual-class structure that allows investors the opportunity to select between a National Class portfolio and a Quebec Class portfolio, each with its own investment objectives and provincial tax deductions.

The National Class portfolio is designed for investors who reside in Canada or are subject to Canadian income tax. The Quebec Class portfolio is designed primarily for investors who reside in the Province of Quebec or are subject to Quebec income tax.

Investors in the National Class portfolio are expected to receive tax deductions equal to 100% of the amount invested for the 2011 taxation year.

The Quebec Class portfolio is expected to provide investors who reside in Quebec or who are subject to Quebec income tax access to a tax deduction of up to 150% of the amount invested for the 2011 taxation year and future capital gains exemption incentives provided to Quebec flow-through investors against their Quebec taxable income.

The closing date for the offering has been set for February 24.

The offering has been set at a maximum of $25 million for the National Class and a maximum of $15 million for the Quebec Class. Net proceeds of the offering will be invested in flow-through shares of Canadian resource companies primarily engaged in exploration and development.

Toronto-based Creststreet will invest in flow-through shares that: represent good value in relation to the market price and intrinsic value of the resource company’s shares; have experienced and senior management; have a strong exploration or development program or renewable energy project in place; and offer the potential for future growth.

The offering is being made through a syndicate of investment dealers led by Scotia Capital Inc. and will include CIBC World Markets Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Wellington West Capital Markets Inc., Desjardins Securities Inc., Industrial Alliance Securities Inc., Manulife Securities Incorporated and Union Securities Ltd.

IE