TORONTO, Nov. 2, 2012 /CNW/ – Pathway Quebec Mining 2010-II Inc.,
general partner of Pathway Quebec Mining 2010-II Flow-Through Limited
Partnership (the “Partnership”), and Pathway Multi Series Fund Inc.
(the “Mutual Fund Corporation”) announce that the Partnership has
completed the transfer and sale (the “Rollover Transaction”) of all its
assets (excluding cash) on a tax-deferred basis to the Mutual Fund
Corporation in exchange for shares of the Mutual Fund Corporation of
the series designated as Mutual Fund Shares, Explorer Series,
A/Rollover Series (“Explorer Class Shares”) effective October 29, 2012,
at a value of $2.3622 per unit that was originally sold for $10.00.

An investment in limited partnership units (“Units”) of the Partnership
were exchanged on a tax-deferred basis for Explorer Series Fund
A/Rollover Series Class Shares (“Explorer Class Share/s”) with equal
value pursuant to an arrangement between the Partnership and the Mutual
Fund Corporation. The Limited Partners received 1.0514 Explorer Class
Shares of the Mutual Fund Corporation for each Unit held, based on a
net asset value per Unit of $2.3622 and a net asset value per share of
$2.2466 for each Explorer Class Share.

The Partnership had net assets of $3,551,927 at the time of the
transfer. The capital gains tax liability that would arise upon
disposition can be deferred by retaining the shares of the Mutual Fund
Corporation.

SOURCE PATHWAY QUEBEC MINING 2010-II INC.