Canaccord And China's Eximbank Announce Their Intent To Establish A $1 Billion Natural Resource Fund

TORONTO, Feb. 9, 2012 /PRNewswire/ - Canaccord Financial Inc. (Canaccord) and the Import Export Bank of China (Eximbank) are pleased to announce their intent to establish a US$1 billion fund focused specifically on investing in the Canadian resource sector.  A memorandum of understanding to create the "Canada-China Natural Resource Fund" (CCRF) was signed this morning by Paul Reynolds, President and CEO of Canaccord Financial Inc., and Zhu Xinqiang, Vice President of Eximbank, in the presence of the Canadian Prime Minister, the Right Honourable Stephen Harper, and Vice Premier Li Keqiang of China.

The principal objectives of the CCRF are to:

• Invest in both public and private natural resource and energy companies or projects in Canada, and in companies that are listed, or have the potential to list on, Canadian stock exchanges;
• Promote interaction and sustainable development among Chinese, Canadian and other natural resources companies, and;
• Create opportunities for substantial returns on investment through the strategic and market-oriented allocation of Fund capital

Following the signing ceremony, Paul Reynolds of Canaccord Financial Inc. said, "Canaccord's deep knowledge of the resource sector and Canada's strong natural resource industry will be highly complementary to the interests of investors and the continued demand for energy and other resources."

Mr. Reynolds continued, "We are honoured to have had Prime Minister Stephen Harper and Vice Premier Li Keqiang involved in our signing ceremony this morning.  The 'Canada-China Natural Resource Fund' demonstrates the importance of Canadian financial markets in the development of resource companies and the continued expansion of Chinese participation in natural resource projects around the world."

Li Ruogu, Chairman and President of Eximbank, added: "We are excited about pursuing this venture with our strategic partner Canaccord, and look forward to great success."