Creststreet Asset Management Limited, announced today that it has completed the initial closing for its initial public offering of units of Creststreet 2008 Limited Partnership.

The available funds from the offering will be invested in flow-through shares of resource companies engaged in oil, natural gas, renewable energy and mining exploration and development in Canada.

Creststreet expects investors to receive tax deductions equal to 100% of the amount invested for the 2008 taxation year.

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 capable management teams, have a strong exploration or development program or renewable energy project in place, and offer the potential for future growth.

The offering was made through a syndicate of investment dealers led by Scotia Capital Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc., and includes National Bank Financial Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corp., GMP Securities L.P., Peters & Co. Limited, Raymond James Ltd., Macquarie Capital Markets Canada Ltd. and Tristone Capital Inc.

Toronto-based Creststreet is an investment management firm specializing in structuring and managing energy focused investment products for Canadian and international institutional and high-net worth investors.