NCE Energy Trust Completes Equity Financing

On November 29, 2000, NCE Energy Trust (NCE) completed an offering of 7,370,000 trust units, which included 670,000 trust units issued pursuant to an option granted to the agents, issued at a price of $4.25 per unit for gross proceeds of $31,322,500. The offering followed NCE’s announcement on October 24, 2000, that it had entered into an agreement with Dundee Securities Corporation and Canaccord Capital Corporation for a best efforts, fully-marketed offering of trust units. The trust units were qualified for distribution to the public in all of the provinces and territories of Canada pursuant to a final prospectus dated November 16, 2000.

NCE, a member of NCE Resources Group, is a trust designed to acquire oil and gas properties through the acquisition of oil and gas companies and assets. The resulting cash flow from these properties is distributed to unitholders on a tax-deferred basis.

NCE was represented by Sandra Cowan, Susan Guttman, Linda Misetich and William Zeyl (securities) of Goodman and Carr LLP and John A. Brussa and Rachel Colabella (tax) of Burnet, Duckworth & Palmer. Gowling Lafleur Henderson LLP (Calgary) acted for the agents with a team comprised of Murray J. Desrosiers, Kurtis T. Kulman and Jason McCormick (securities) and Deborah B. Neale (tax) with assistance from Neil Steenberg of the firm’s Toronto office.