Company Profile
Academy Ventures Inc. is a natural resource company engaged in the acquisition and exploration of mining properties. The Company’s main emphasis is on the exploration for silver and gold in the New Westminster Mining Division, British Columbia, where the Company has acquired a 100% undivided interest in five mineral claims totaling 1,757.234 hectares, subject to a 2% net smelter return royalty in the Doctor’s Point Gold Property. During the fiscal year ended September 30, 2007, the Company completed an exploration program on the Doctor’s Point Gold Property consisting of geological survey, line cutting and prospecting, of known showings and new exposures.
Event
On April 25th, 2008 – the TSX Venture Exchange Daily Bulletin reported that the TSX Venture Exchange had accepted for filing documentation with respect to a Non-Brokered Private Placement April 17, 2008 by Academy Ventures.
Details of the Private Placement
Number of shares: 1,500,000 shares
Warrants: 750,000 share purchase warrants to purchase 750,000 shares
Number of Placees: 1 placee
Purchase Price: $1.45 per share
Private Placement Participants
Passport Materials Master Fund LP for 1,500,000 shares
About Passport Materials Master Fund LP
Passport Capital LLC is a San Francisco based, global investment firm founded by John H. Burbank III in 2000. The firm manages approximately $4.0 billion in ssets. Passport's investment process uses a combination of macroeconomic analyses to develop major themes and rigorous fundamental research on individual companies to create global portfolios. Passport manages various investment funds, including Passport Global Master Fund SPC Ltd., Passport Materials Master Fund, LP and Partners Group Alternative Strategies PCC Ltd.
Prior to founding the firm in 2000, Mr. Burbank was a consultant to JMG Triton Offshore, Ltd. (a $1 billion market neutral arbitrage fund). From 1996 to 1998, Mr. Burbank was the director of research at ValueVest Management (a $150 million long/short global value fund that focused on emerging markets and basic industries). He holds a B.A. degree from Duke University and earned an M.B.A. degree from the Stanford Business School.
According to Alpha Magazine, “John Burbank knew as early as 2005 that the subprime mortgage market was a bubble that would inevitably burst. Late that year he began to heavily short subprime mortgage pools and riskier, heavily leveraged collateralized debt obligations. The move paid off in a big way in 2007. Burbank, 44, the managing member and chief investment officer of San Francisco–based Passport Capital, steered its Passport Global Strategy fund to a 219.6 percent net return last year. Burbank, who founded the firm in 2000, also scored on long plays in energy and metals. Last year Passport’s assets soared from $1.2 billion to $4 billion, earning Burbank $370 million.
Click here to read a May 5, 2008 article about John Burbank by Forbes
James J. Cunningham is the Portfolio Manager responsible for investments in Basic Materials at Passport Capital. Prior to joining Passport, Cunningham was a Portfolio Manager with Renberg Capital Management. He co-managed $500 million in assets for wealthy individuals and institutions. Before investment management, Cunningham worked in the high-tech industry as a Vice President of Business Development for Crossroads Software and as a Senior Director in the Worldwide Industry Strategy Group for Oracle Corporation. Earlier in his career, Cunningham also worked as a Management Consultant for Booz Allen & Hamilton and as a manager in the Information Services Group for Morgan Stanley & Co. James received a B.S. in Financial Economics from Lehigh University and an M.B.A. from the Stanford Graduate School of Business. He also holds the Chartered Financial Analyst designation.
Website: http://www.passportcapital.com/
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