Middlefield Healthcare & Life Sciences Dividend Fund Files Initial Public Offering

Saturday, May 27, 2017 Lifestyle News
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CALGARY, May 26, 2017 /CNW/ - Middlefield Group, on behalf of Middlefield Healthcare & Life Sciences Dividend Fund

(the "Fund"), is pleased to announce that it has filed a preliminary prospectus in relation to an initial public offering of units at a price of $10.00 per unit.

The Fund's investment objectives are to provide holders

of units with:

(i) stable monthly cash distributions, and

(ii) enhanced long-term total return through capital appreciation of the Fund's investment portfolio.

The Fund's investment strategy will focus primarily on investing in dividend-paying securities of issuers operating in, or that derive a significant portion of their revenue or earnings from, products or services related to the healthcare, life sciences and related industries.

The initial target distribution yield for the Fund is 5% per annum based on the original subscription price (or $0.04167 per unit per month or $0.50 per unit per annum).

Middlefield Capital Corporation, the advisor, will provide investment management advice to the Fund. SSR LLC, an investment research firm based in Stamford, Connecticut, will act as an industry advisor to Middlefield and in such capacity will provide ongoing analysis regarding the global healthcare and life sciences sector.

Prospective purchasers investing in Middlefield Healthcare & Life Sciences Dividend Fund have the option of paying for units in cash or by exchanging securities of issuers listed in the preliminary prospectus. Prospective purchasers under the exchange option are required to deposit their exchange eligible securities prior to 5:00 p.m. (Toronto time) on June 22, 2017, in the manner described in the preliminary prospectus.

The syndicate of agents is being co-led by CIBC and RBC Capital Markets, and includes BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Raymond James Ltd., Manulife Securities Incorporated, Echelon Wealth Partners Inc., Mackie Research Capital Corporation and Middlefield Capital Corporation.

A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the agents named above using the contact information for such agent. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

SOURCE Middlefield Healthcare & Life Sciences Dividend Fund



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