Global Real Estate and E-Commerce Dividend Fund IPO Raises $70 Million

CALGARY, Oct. 25, 2018 /CNW/ - Middlefield Group, on behalf of Global Real Estate and E-Commerce Dividend Fund (the "Fund"), is pleased to announce that the Fund has completed its initial public offering of 7,000,000 units at a price of $10.00 per unit for gross proceeds of $70 million. The units are listed on the Toronto Stock Exchange under the symbol GEC.UN.

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.

The syndicate of agents was co-led by CIBC Capital Markets and RBC Capital Markets, and included 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.

This offering was 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 Global Real Estate & E-Commerce Dividend Fund

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.