CALGARY, Alberta, Jan. 17, 2020 (GLOBE NEWSWIRE) — Middlefield Group, on behalf of Sustainable Infrastructure Dividend Fund (the âFundâ), 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 Fundâs 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 Fundâs investment portfolio
through a diversified, actively managed portfolio comprised primarily of dividend paying securities of global issuers focused on, involved in, or that derive a significant portion of their revenue from physical infrastructure assets, which the advisor believes will generate attractive risk-adjusted returns for the Fund due to the tangible, difficult to replicate, long-term nature of such assets and their ability to shape and support global economic activity. In addition, the portfolio will be focused on sustainable infrastructure by investing in securities of issuers whose infrastructure assets the advisor believes have been developed and operated taking into account environmental, social and governance considerations.
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 Sustainable Infrastructure 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 February 20, 2020, 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 BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., Industrial Alliance Securities, National Bank Financial Inc., Manulife Securities Incorporated, Raymond James Ltd., Stifel Nicolaus Canada Inc., Middlefield Capital Corporation, Echelon Wealth Partners Inc. and Mackie Research Capital Corporation.
For further information, please visit our website at www.middlefield.com or contact Nancy Tham or Michael Bury 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.