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Pathway Quebec Mining 2011 Inc., the General Partner of Pathway Quebec Mining 2011 Flow-Through Limited Partnership and Pathway Multi Series Fund Inc. - Rollover of Assets Completed

TORONTO, Nov. 22, 2012 /CNW/ - Pathway Quebec Mining 2011 Inc., general partner of Pathway Quebec Mining 2011 Flow-Through Limited Partnership (the "Partnership"), and Pathway Multi Series Fund Inc. (the "Mutual Fund Corporation") announce that the Partnership has completed the transfer and sale (the "Rollover Transaction") of all its assets (excluding cash) on a tax-deferred basis to the Mutual Fund Corporation in exchange for shares of the Mutual Fund Corporation of the series designated as Mutual Fund Shares, Explorer Series, A/Rollover Series ("Explorer Class Shares") effective November 21, 2012, at a value of $2.6591 per unit that was originally sold for $10.00.

An investment in limited partnership units ("Units") of the Partnership were exchanged on a tax-deferred basis for Explorer Series Fund A/Rollover Series Class Shares ("Explorer Class Share/s") with equal value pursuant to an arrangement between the Partnership and the Mutual Fund Corporation.  The Limited Partners received 1.2280 Explorer Class Shares of the Mutual Fund Corporation for each Unit held, based on a net asset value per Unit of $2.6591 and a net asset value per share of $2.1654 for each Explorer Class Share.

The Partnership had net assets of $10,214,003.65 at the time of the transfer.  The capital gains tax liability that would arise upon disposition can be deferred by retaining the shares of the Mutual Fund Corporation.

SOURCE PATHWAY QUEBEC MINING 2011 INC.

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