As a result, FSC and Sprott have reached an agreement in principle whereby the co-investment advisory relationships previously announced on December 3, 2012, will be terminated.
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Since December 3, 2012, FSIMI and Sprott have been the co-investment advisors to each of the following funds: Front Street Strategic Yield Fund Ltd., Flatiron Strategic Yield Ltd., Sprott Flatiron Yield Trust, and FMN LP (collectively, the "Funds"). The co-investment advisory agreement for each of the Funds will be terminated effective at the close of trading on February 15, 2013 (the
"Termination Date").
Following the Termination Date, it is currently expected that FSIMI will be the sole investment advisor for Front Street Strategic Yield Fund Ltd. and Flatiron Strategic Yield Ltd. and that Sprott will be the sole investment advisor for Sprott Flatiron Yield Trust and FMN LP. FMN LP is currently in the process of being wound-up, and it is anticipated that this wind-up will be completed on or about
February 8, 2013.
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