Toronto-based AlphaNorth Asset Management says that AlphaNorth 2013 Flow-Through Limited Partnership is now taking subscriptions in connection with a private placement by offering memorandum.

This is AlphaNorth’s fourth flow-through limited partnership offering.

The price per unit is $10 with a minimum subscription of 1,000 units ($10,000). The closing is expected in late February, with rollover and dissolution expected in early 2014.

The partnership’s investment objective is to provide for a tax-assisted investment in a diversified portfolio of flow-through shares and other securities of junior and intermediate resource companies with a view to maximizing tax benefits and achieving capital appreciation for its limited partners.

The partnership’s focus is on resource companies whose principal business will be mineral exploration, development and production, oil and gas exploration, development and production, or certain energy production that may incur start-up phase costs of renewable energy projects.

AlphaNorth GP Inc., the general partner of the partnership, expects investors to receive a tax deduction for the 2013 taxation year equal to 102% of the amount invested and 122% over the total period.

AlphaNorth Asset Management (AAM) will provide investment, management, administrative and other services. AAM currently provides management services to AlphaNorth Partners Fund Inc., a long biased, small cap hedge fund focusing primarily on Canadian companies, including resource companies. AlphaNorth Partners Fund was awarded Best Performance at the 2012 and 2011 Canadian Hedge Fund Awards.

AAM, led by CEO Steven Palmer, will provide investment advisory and portfolio management services to the partnership and will direct the day-to-day business operation and affairs of the partnership. AAM also manages AlphaNorth 2012 Flow-Through Limited Partnership, AlphaNorth 2011 Flow-Through Limited Partnership, and AlphaNorth Growth Fund.

Palmer supports the view that small cap equities are the best performing asset class over the long-term, particularly following a period of significant decline as was the case in 2011 and 2012.

“Equities have lagged the underlying strength in many commodities. This is a timely launch as our bullish macro call presents a compelling risk/reward opportunity from current levels for resource equities,” he said.