American Core Sectors Dividend Fund Announces Exchange Ratios
CALGARY, Dec. 5, 2013 /CNW/ - Middlefield Group, on behalf of American Core Sectors Dividend Fund (the "Fund"), is pleased to announce the exchange ratios for the exchange offer by the Fund (the "Exchange Option") being made under the final prospectus of the Fund dated November 28, 2013.
The Fund's investment objectives are to provide:
(i) unitholders with stable monthly cash distributions; and
(ii) long-term total return through capital appreciation of the Fund's investment portfolio;
through an investment strategy which focuses on a diversified, actively managed portfolio comprised primarily of dividend-paying securities with a focus on the U.S. consumer, financials, industrials and information technology sectors (collectively, the "Core Sectors") that are expected by Middlefield Capital Corporation to benefit from growth in the U.S. economy.
The initial target distribution yield for the Fund is 5.5% per annum based on the original subscription price (or $0.04583 per unit per month or $0.55 per unit per annum).
Middlefield Capital Corporation will act as the investment advisor to the Fund.
The number of units issuable for each class of security of an Exchange Eligible Issuer (as listed below) (the "Exchange Ratio") has been determined by dividing the weighted average trading price of such security on the Toronto Stock Exchange (or such other exchange or market on which such security is then listed) during the period of five consecutive trading days ending on December 5, 2013 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Fund, by $10.00. Holders of securities of Exchange Eligible Issuers who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of the offering of units and will be entitled to receive distributions in respect of such securities of Exchange Eligible Issuers that are declared up to but not including such date. Each Exchange Ratio will be rounded down to five decimal places.
The table below sets out the Exchange Eligible Issuers, the securities of which may be accepted by the Fund pursuant to the Exchange Option, including the name of the Exchange Eligible Issuer, its ticker symbol, its CUSIP number, its ISIN, its volume weighted average trading price during the Pricing Period and the Exchange Ratios.
| NAME | TICKER | CUSIP | ISIN | VWAP | EXCHANGE RATIO |
| Consumers | |||||
| Alimentation Couche-Tard Inc. | ATD/B | 01626P403 | CA01626P4033 | 79.1730 | 7.91730 |
| Canadian Tire Corporation, Limited | CTC/A | 136681202 | CA1366812024 | 99.3180 | 9.93180 |
| Cineplex Inc. | CGX | 172454100 | CA1724541000 | 42.9303 | 4.29303 |
| Cott Corporation | BCB | 22163N106 | CA22163N1069 | 9.0076 | 0.90076 |
| Dollarama Inc. | DOL | 25675T107 | CA25675T1075 | 86.1576 | 8.61576 |
| Dorel Industries Inc. | DII/B | 25822C205 | CA25822C2058 | 37.3538 | 3.73538 |
| Empire Company Limited | EMP/A | 291843407 | CA2918434077 | 75.0569 | 7.50569 |
| George Weston Limited | WN | 961148509 | CA9611485090 | 80.5255 | 8.01105 |
| Gildan Activewear Inc. | GIL | 375916103 | CA3759161035 | 51.5348 | 5.14268 |
| Linamar Corporation | LNR | 53278L107 | CA53278L1076 | 41.4243 | 4.14243 |
| Loblaw Companies Limited | L | 539481101 | CA5394811015 | 43.7561 | 4.35161 |
| Magna International Inc. | MG | 559222401 | CA5592224011 | 85.6214 | 8.56214 |
| Maple Leaf Foods Inc. | MFI | 564905107 | CA5649051078 | 16.8651 | 1.68251 |
| Martinrea International Inc. | MRE | 573459104 | CA5734591046 | 8.9395 | 0.89395 |
| Metro Inc. | MRU | 59162N109 | CA59162N1096 | 63.2843 | 6.32843 |
| RONA Inc. | RON | 776249104 | CA7762491040 | 13.0751 | 1.30751 |
| Saputo Inc. | SAP | 802912105 | CA8029121057 | 48.1927 | 4.81927 |
| Shoppers Drug Mart Corporation | SC | 82509W103 | CA82509W1032 | 58.8069 | 5.88069 |
| The Jean Coutu Group PJC Inc. | PJC/A | 47215Q104 | CA47215Q1046 | 18.1912 | 1.81912 |
| The North West Company Inc. | NWC | 663278109 | CA6632781093 | 26.5713 | 2.65713 |
| Tim Hortons Inc. | THI | 88706M103 | CA88706M1032 | 62.2962 | 6.22962 |
| Financials | |||||
| AGF Management Limited | AGF/B | 001092105 | CA0010921058 | 13.4403 | 1.34403 |
| Allied Properties Real Estate Investment Trust | AP-U | 019456102 | CA0194561027 | 32.0759 | 3.20759 |
| Artis Real Estate Investment Trust | AX-U | 04315L105 | CA04315L1058 | 14.2493 | 1.42493 |
| Bank of Montreal | BMO | 063671101 | CA0636711016 | 70.9933 | 7.09933 |
| Bank of Nova Scotia | BNS | 064149107 | CA0641491075 | 64.1485 | 6.41485 |
| Boardwalk Real Estate Investment Trust | BEI-U | 096631106 | CA0966311064 | 58.5184 | 5.85184 |
| Brookfield Asset Management Inc. | BAM/A | 112585104 | CA1125851040 | 40.9541 | 4.09541 |
| Brookfield Office Properties Inc. | BPO | 112900105 | CA1129001055 | 20.4206 | 2.04206 |
| Calloway Real Estate Investment Trust | CWT-U | 131253205 | CA1312532056 | 24.6289 | 2.46289 |
| Canadian Apartment Properties Real Estate Investment Trust | CAR-U | 134921105 | CA1349211054 | 20.3780 | 2.03780 |
| Canadian Imperial Bank of Commerce/Canada | CM | 136069101 | CA1360691010 | 90.1802 | 9.01802 |
| Canadian Real Estate Investment Trust | REF-U | 13650J104 | CA13650J1049 | 42.0474 | 4.20474 |
| Canadian Western Bank | CWB | 13677F101 | CA13677F1018 | 35.4320 | 3.52420 |
| Chartwell Retirement Residences | CSH-U | 16141A103 | CA16141A1030 | 9.8545 | 0.98545 |
| CI Financial Corp. | CIX | 125491100 | CA1254911003 | 34.0965 | 3.40965 |
| Cominar Real Estate Investment Trust | CUF-U | 199910100 | CA1999101001 | 17.7616 | 1.76416 |
| Crombie Real Estate Investment Trust | CRR-U | 227107109 | CA2271071094 | 13.1855 | 1.31855 |
| Dundee International Real Estate Investment Trust | DI-U | 26518R209 | CA26518R2090 | 8.2680 | 0.82680 |
| Dundee Real Estate Investment Trust | D-U | 265270207 | CA2652702077 | 27.5247 | 2.75247 |
| Fairfax Financial Holdings Limited | FFH | 303901102 | CA3039011026 | 413.5919 | 41.35919 |
| First Capital Realty Inc. | FCR | 31943B100 | CA31943B1004 | 17.4974 | 1.74974 |
| FirstService Corporation | FSV | 33761N109 | CA33761N1096 | 43.5015 | 4.35015 |
| Genworth MI Canada Inc. | MIC | 37252B102 | CA37252B1022 | 34.1346 | 3.41346 |
| Granite Real Estate Investment Trust | GRT-U | 387437114 | CA3874371147 | 35.0398 | 3.50398 |
| Great-West Lifeco Inc. | GWO | 39138C106 | CA39138C1068 | 32.5407 | 3.25407 |
| H&R Real Estate Investment Trust | HR-U | 404428203 | CA4044282032 | 21.0777 | 2.09652 |
| Home Capital Group Inc. | HCG | 436913107 | CA4369131079 | 81.3218 | 8.13218 |
| IGM Financial Inc. | IGM | 449586106 | CA4495861060 | 53.9213 | 5.39213 |
| Industrial Alliance Insurance & Financial Services Inc. | IAG | 455871103 | CA4558711038 | 48.3950 | 4.83950 |
| Intact Financial Corp. | IFC | 45823T106 | CA45823T1066 | 68.6058 | 6.81658 |
| Laurentian Bank of Canada | LB | 51925D106 | CA51925D1069 | 47.1534 | 4.71534 |
| Manulife Financial Corporation | MFC | 56501R106 | CA56501R1064 | 20.3230 | 2.03230 |
| National Bank of Canada | NA | 633067103 | CA6330671034 | 90.6783 | 9.06783 |
| Northern Property Real Estate Investment Trust | NPR-U | 66562P105 | CA66562P1053 | 27.1350 | 2.71350 |
| Power Corporation of Canada | POW | 739239101 | CA7392391016 | 32.2238 | 3.19338 |
| Power Financial Corporation | PWF | 73927C100 | CA73927C1005 | 35.7941 | 3.57941 |
| Pure Industrial Real Estate Trust | AAR-U | 74623T108 | CA74623T1084 | 4.3237 | 0.43237 |
| RioCan Real Estate Investment Trust | REI-U | 766910103 | CA7669101031 | 24.2808 | 2.42808 |
| Royal Bank of Canada | RY | 780087102 | CA7800871021 | 69.3921 | 6.93921 |
| Sun Life Financial Inc. | SLF | 866796105 | CA8667961053 | 36.8357 | 3.68357 |
| The Toronto-Dominion Bank | TD | 891160509 | CA8911605092 | 95.4788 | 9.54788 |
| TMX Group Limited | X | 87262K105 | CA87262K1057 | 51.5433 | 5.15433 |
| WPT Industrial Real Estate Investment Trust | WIR/U | 92937G109 | CA92937G1090 | 8.6132 | 0.86132 |
| Industrials | |||||
| Aecon Group Inc. | ARE | 00762V109 | CA00762V1094 | 15.1161 | 1.51161 |
| AG Growth International Inc. | AFN | 001181106 | CA0011811068 | 40.4250 | 4.04250 |
| Black Diamond Group Limited | BDI | 09202D207 | CA09202D2077 | 28.5661 | 2.85661 |
| Bombardier Inc. | BBD/B | 097751200 | CA0977512007 | 4.7012 | 0.47008 |
| CAE Inc. | CAE | 124765108 | CA1247651088 | 11.9910 | 1.19310 |
| Canadian National Railway Company | CNR | 136375102 | CA1363751027 | 60.2588 | 6.00438 |
| Canadian Pacific Railway Limited | CP | 13645T100 | CA13645T1003 | 163.6151 | 16.36151 |
| Finning International Inc. | FTT | 318071404 | CA3180714048 | 24.6379 | 2.46379 |
| Genivar Inc. | GNV | 37230Q205 | CA37230Q2053 | 31.2668 | 3.12668 |
| MacDonald, Dettwiler & Associates Ltd. | MDA | 554282103 | CA5542821031 | 80.8301 | 8.08301 |
| Progressive Waste Solutions Ltd. | BIN | 74339G101 | CA74339G1019 | 27.5498 | 2.75498 |
| Ritchie Bros, Auctioneers Incorporated | RBA | 767744105 | CA7677441056 | 21.5992 | 2.15992 |
| SNC-Lavalin Group Inc. | SNC | 78460T105 | CA78460T1057 | 47.0052 | 4.70052 |
| Stantec Inc. | STN | 85472N109 | CA85472N1096 | 69.9928 | 6.99928 |
| Toromont Industries Ltd. | TIH | 891102105 | CA8911021050 | 26.0634 | 2.59334 |
| Transcontinental Inc. | TCL/A | 893578104 | CA8935781044 | 16.4480 | 1.64480 |
| TransForce Inc. | TFI | 89366H103 | CA89366H1038 | 25.0452 | 2.50452 |
| Wajax Corporation | WJX | 930783105 | CA9307831052 | 35.9584 | 3.59584 |
| Westjet Airlines Ltd. | WJA | 960410207 | CA9604102074 | 27.9997 | 2.78997 |
| Westshore Terminals Investment Corporation | WTE | 96145A200 | CA96145A2002 | 35.0262 | 3.50262 |
| Information Technology | |||||
| Constellation Software Inc. | CSU | 21037X100 | CA21037X1006 | 196.1061 | 19.51061 |
| Davis + Henderson Corporation | DH | 239057102 | CA2390571024 | 28.5141 | 2.85141 |
| Open Text Corporation | OTC | 683715106 | CA6837151068 | 92.9078 | 9.29078 |
| Wi-LAN Inc. | WIN | 928972108 | CA9289721081 | 3.4196 | 0.33796 |
| Other | |||||
| BMO S&P 500 Index ETF | ZSP | 05575T100 | CA05575T1003 | 21.1921 | 2.11921 |
| CCL Industries Inc. | CCL/B | 124900309 | CA1249003098 | 83.7815 | 8.35665 |
| Enerplus Corporation | ERF | 292766102 | CA2927661025 | 19.6111 | 1.96111 |
| Extendicare Inc. | EXE | 30224T863 | CA30224T8639 | 6.7631 | 0.67631 |
| iShares S&P 500 Index Fund (CAD-Hedged) | XSP | 46428J105 | CA46428J1057 | 20.7047 | 2.07047 |
| Norbord Inc. | NBD | 65548P403 | CA65548P4033 | 31.9591 | 3.19591 |
| Powershares QQQ Trust Series 1 | QQQ | 73935A104 | US73935A1043 | 90.9000 | 9.09000 |
| Regal Lifestyle Communities Inc. | RLC | 75882T101 | CA75882T1012 | 7.7251 | 0.77251 |
| SPDR S&P 500 ETF Trust | SPY | 78462F103 | US78462F1030 | 191.4872 | 19.14871 |
| Superior Plus Corp. | SPB | 86828P103 | CA86828P1036 | 11.4523 | 1.14523 |
| Vanguard S&P 500 Index ETF | VFV | 92205Y105 | CA92205Y1051 | 34.0452 | 3.40452 |
The syndicate of agents is being co-led by CIBC and RBC Capital Markets and includes Scotiabank, BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Mackie Research Capital Corporation, Middlefield Capital Corporation, Dundee Securities Ltd. and Manulife Securities Incorporated.
This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your IIROC registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.
SOURCE: American Core Sectors Dividend Fund
please visit our website at www.middlefield.com or contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or 1.888.890.1868.
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