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Global Real Estate & E-Commerce Dividend Fund files initial public offering

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Global Real Estate & E-Commerce Dividend Fund files initial public offering

Canada NewsWire

CALGARY, Aug. 24, 2018 /CNW/ - Middlefield Group, on behalf of Global Real Estate and E-Commerce 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 of dividend-paying securities of global real estate issuers that the advisor believes are well-positioned to benefit from the rapid adoption of e-commerce products and services, as well as securities of issuers operating in or deriving a significant portion of their revenue or earnings from products or services related to the e-commerce industry.

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 Global Real Estate and E-Commerce 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 September 20, 2018, 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., GMP Securities L.P., National Bank Financial Inc., Raymond James Ltd., Industrial Alliance Securities, Manulife Securities Incorporated, Desjardins Securities 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 Global Real Estate & E-Commerce Dividend Fund

View original content: http://www.newswire.ca/en/releases/archive/August2018/24/c3177.html

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