TORONTO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Middlefield Group, on behalf of Sustainable Real Estate 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
through a diversified, actively managed portfolio comprised primarily of dividend paying securities of international issuers focused on, involved in, or that derive a significant portion of their revenue from business models that are creating and transforming the green property and related sectors by employing or developing sustainable property management practices or materials (collectively, “Sustainable Real Estate Issuers”). In addition, the Advisor (as defined below) will integrate environmental, social and governance considerations to complement fundamental analysis in selecting Sustainable Real Estate Issuers it believes have sustainable competitive advantages.
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.
Prospective purchasers investing in the 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 February 24, 2022, in the manner described in the preliminary prospectus.
The syndicate of agents is being co-led by CIBC Capital Markets and RBC Capital Markets, and includes Scotiabank, BMO Capital Markets, Canaccord Genuity Corp., Raymond James Ltd., TD Securities Inc., iA Private Wealth Inc., National Bank Financial Inc., Manulife Securities Incorporated, Echelon Wealth Partners Inc., Hampton Securities Limited, Middlefield Capital Corporation, Richardson Wealth Limited, Research Capital Corporation and Wellington-Altus Private Wealth Inc.
For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.
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.