CALGARY, ALBERTA -- (Marketwire) -- 01/24/13 -- Hesperian Capital Management Ltd. ("Hesperian"), announced today that it intends to carry out the tax-deferred rollover of Norrep Performance 2012 Flow-Through Limited Partnership (the "Partnership") into the Norrep Energy Class of Norrep Opportunities Corp. (the "Mutual Fund") effective March 8, 2013.

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 the investor as 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 using a   
                                          quantitative methodology          
- 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 focused 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 event, additional information will be made available on the Norrep Funds website (www.norrep.com).

Hesperian Capital Management Ltd. is an independent investment firm managing 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, performance or achievement could differ from those expressed in or implied by these forward-looking statements.