On May 31, 2013, Hesperian Capital Management Ltd. announced that Norrep Short Duration 2013 Flow-Through Limited Partnership (the Partnership) completed the third and final closing of its initial public offering of limited partnership units (Partnership Units). The Partnership issued 375,910 Partnership Units at C$10.00 per Partnership Unit for gross proceeds of C$3,759,100. In combination with the first and second closings, which occurred on April 9, 2013 and May 9, 2013, respectively, the Partnership has issued an aggregate of 2,711,083 Partnership Units at C$10.00 per Partnership Unit for aggregate gross proceeds of C$27,110,830.

The offering was led by BMO Capital Markets and included CIBC, National Bank Financial Inc., TD Securities Inc., GMP Securities L.P., Canaccord Genuity Corp., Dundee Securities Ltd., Macquarie Private Wealth Inc. and Raymond James Ltd.

The Partnership has been organized to invest in flow-through shares of resource companies whose principal business is oil & gas exploration and development, mineral exploration and development, and renewable energy development and production.

Hesperian Capital Management, headquartered in Calgary, manages or has managed 14 other public flow-through limited partnerships that were formed to invest in flow-through shares of resource companies. Including the Partnership, these partnerships have raised total gross proceeds of approximately $473 million.