CALGARY, ALBERTA -- (Marketwire) -- 05/01/12 -- Norrep 2012 Management Inc. announced today that Norrep Performance 2012 Flow-Through Limited Partnership (the "Partnership") has completed the second and final closing of its initial public offering of limited partnership units ("Partnership Units"). The Partnership issued 637,650 Partnership Units at $10.00 per Partnership Unit for gross proceeds of $6,376,500 in the second closing. In combination with the first closing, which occurred on March 16, 2012, the Partnership has issued an aggregate of 1,355,780 Partnership Units at $10.00 per Partnership Unit for aggregate gross proceeds of $13,557,800. The offering was led by BMO Capital Markets and included 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. (collectively, the "Agents").

About the Partnership

The Partnership has been organized to invest in flow-through shares of resource companies whose principal business is (i) oil and gas exploration, development and production, (ii) mineral exploration, development and production, or (iii) renewable energy development and production in Canada.

The Partnership will have a greater focus on Canadian Development Expense (CDE) expenditures over Canadian Exploration Expense (CEE) expenditures, which shifts the nature of the underlying activities from exploration activities and adding prospects to development drilling and other activities to add production.

Management of Hesperian Capital Management Ltd. has managed or manages thirteen other 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 $446 million.

This offering is only made by a prospectus dated February 23, 2012 (the "Prospectus"). The Prospectus contains important information relating to these securities. Copies of the Prospectus may be obtained from any of the Agents. Investors should read the Prospectus before making an investment decision.