European Focused Dividend Fund Files Initial Public Offering

CALGARY, Sept. 28, 2017 /CNW/ - Middlefield Group, on behalf of European Focused 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 issuers that are domiciled in or derive a significant portion of their revenue from Europe.

The initial target distribution yield for the Fund is 6% per annum based on the original subscription price (or $0.05 per unit per month or $0.60 per unit per annum).

Middlefield Capital Corporation, the advisor, will provide investment management advice to the Fund.

Prospective purchasers investing in European Focused 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 October 25, 2017, 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., Manulife Securities Incorporated, Mackie Research Capital Corporation, Middlefield Capital Corporation, Desjardins Securities Inc., and Echelon Wealth Partners Inc.

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 European Focused Dividend Fund

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