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Hesperian Capital Management Ltd. Announces March 14, 2014 Rollover for Norrep Short Duration 2013 Flow-Through Limited Partnership

CALGARY, ALBERTA -- (Marketwired) -- 01/30/14 -- Hesperian Capital Management Ltd. ("Hesperian"), announced today that it intends to carry out the tax-deferred rollover of Norrep Short Duration 2013 Flow-Through Limited Partnership (the "Partnership") into the Norrep Energy Class of Norrep Opportunities Corp. (the "Mutual Fund") effective March 14, 2014.

The rollover will be a transaction pursuant to which the assets of the Partnership will be transferred to the Mutual Fund, on a tax-deferred basis, in exchange for securities of the Mutual Fund. Following this, the Partnership will be dissolved and the securities of the Mutual Fund will be distributed to the Limited Partners (i.e. investors) pro rata on a tax-deferred basis. There will be no fees or costs charged to Limited Partners as a result of the rollover event.

Investors may indefinitely defer the capital gains tax liability that occurs at disposition of the investment by continuing to hold the Norrep Energy Class mutual fund shares or by initiating a tax-deferred switch to another mutual fund class within the multi-class structure of Norrep Opportunities Corp.


- Norrep II Class:                      Canadian small and mid cap equity
- Norrep All Cap Quant Class:           Canadian all cap equity
- Norrep Income Growth Class:           Canadian equity balanced
- Norrep US Dividend Plus Class:        U.S. dividend-paying equity
- Norrep Global Class:                  Global small and mid cap equity
- Norrep Entrepreneurs Class:           Canadian micro cap equity
- Norrep High Yield Class:              High yield fixed income
- Norrep Global Income Growth Class:    Global equity balanced
- Norrep Tactical Opportunities Class:  Tactical balanced

Following the rollover, the Norrep Funds website (www.norrep.com) will provide additional information, as it becomes available, on the rollover net asset value, exchange ratio, and adjusted cost base (ACB) of the Partnership units.

Hesperian Capital Management Ltd. is an independent investment firm managing approximately $1.1 billion in a strategically focused group of investment funds and limited partnerships (the "Norrep Group of Funds") from offices in Calgary and Toronto.

Certain information set forth in this press release, including a discussion of future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. Actual results, Short Duration or achievement could differ from those expressed in or implied by these forward-looking statements.

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