MINT Income Fund files preliminary prospectus exchange and cash offering - Maximum $150 million
CALGARY, June 28, 2013 /CNW/ - Middlefield Group, on behalf of MINT Income Fund (the "Fund" or "MINT"), is pleased to announce that it has filed a preliminary short form prospectus in connection with an offering of Class A units (the "Class A Units") of MINT. Prospective purchasers may purchase Class A Units either by (i) cash payment; or (ii) an exchange of securities of Exchange Eligible Issuers, listed below. The exchange offering will remain open for acceptance until 5:00 p.m. Toronto time on July 29, 2013 (the "Deposit Date") whereas the cash offering will remain open until closing, which is expected to occur early August 2013. The exchange ratios will be disclosed in a final short form prospectus expected to be filed on or about July 30, 2013.
The purchase price for the Class A Units, in respect of both the cash offering and exchange offering, will be equal to the weighted average trading price of MINT's existing units (the "Existing Units") on the TSX during the period of three consecutive trading days ending on the Deposit Date.
The Class A Units have similar attributes as the Fund's Existing Units except that (i) the Class A Units are not eligible to be surrendered for the annual redemption in November 2013, and (ii) the Class A Units will be converted into Existing Units automatically as of November 15, 2013 on a one-for-one basis. Accordingly, all Class A Units and Existing Units (the "Units") will have the same investment objectives, strategy, guidelines and portfolio, which is comprised primarily of equity income securities, as well as the same net asset value per Unit.
Monthly distributions paid by MINT are currently targeted to be $0.06 per Unit, or $0.72 per Unit per annum, which represents a yield of 7.5% based upon the closing price of the Units on the Toronto Stock Exchange on June 25, 2013.
The net proceeds of the Offering will be invested by the Fund in accordance with its investment objectives. A complete list of Exchange Eligible Issuers is included below. The Agents for this Offering are Canaccord Genuity Corporation and Middlefield Capital Corporation. Concurrent with this Offering, MINT has also filed a preliminary short form prospectus for a warrant offering to holders of Existing Units.
Existing Units of MINT trade on the Toronto Stock Exchange under the symbol MID.UN. An application will be made to list Class A Units on the Toronto Stock Exchange.
Exchange Eligible Issuers
| NAME | TICKER | CUSIP | ISIN | NAME | TICKER | CUSIP | ISIN | |||||||||
| REAL ESTATE INVESTMENT TRUSTS | OTHER DIVIDEND PAYING SECURITIES CONTD. | |||||||||||||||
| Artis REIT | AX.UN | 04315L105 | CA04315L1058 | IAMGOLD Corporation | IMG | 450913108 | CA4509131088 | |||||||||
| Calloway REIT | CWT.UN | 131253205 | CA1312532056 | Just Energy Group Inc. | JE | 48213W101 | CA48213W1014 | |||||||||
| Canadian Apartment Properties REIT | CAR.UN | 134921105 | CA1349211054 | Labrador Iron Ore Royalty Corporation | LIF | 505440107 | CA5054401073 | |||||||||
| Chartwell Retirement Residences | CSH.UN | 16141A103 | CA16141A1030 | Magna International Inc. | MG | 559222401 | CA5592224011 | |||||||||
| Cominar REIT | CUF.UN | 199910100 | CA1999101001 | Major Drilling Group International | MDI | 560909103 | CA5609091031 | |||||||||
| Crombie REIT | CRR.UN | 227107109 | CA2271071094 | Manitoba Telecom Services Inc. | MBT | 563486109 | CA5634861093 | |||||||||
| Dundee International REIT | DI.UN | 26518R209 | CA26518R2090 | Norbord Inc. | NBD | 65548P403 | CA65548P4033 | |||||||||
| Dundee REIT | D.UN | 265270207 | CA2652702077 | North West Co Inc. | NWC | 663278109 | CA6632781093 | |||||||||
| Granite REIT | GRT.UN | 387437114 | CA3874371147 | Northland Power Inc. | NPI | 666511100 | CA6665111002 | |||||||||
| H&R REIT | HR.UN | 404428203 | CA4044282032 | Regal Lifestyle Communities Inc. | RLC | 75882T101 | CA75882T1012 | |||||||||
| InnVest REIT | INN.UN | 45771T132 | CA45771T1324 | Reitmans Canada Ltd. | RET.A | 759404205 | CA7594042052 | |||||||||
| Northern Property REIT | NPR.UN | 66562P105 | CA66562P1053 | Russel Metals Inc. | RUS | 781903604 | CA7819036046 | |||||||||
| Pure Industrial Real Estate Trust | AAR.UN | 74623T108 | CA74623T1084 | Shaw Communications Inc. | SJR.B | 82028K200 | CA82028K2002 | |||||||||
| RioCan REIT | REI.UN | 766910103 | CA7669101031 | Superior Plus Corporation | SPB | 86828P103 | CA86828P1036 | |||||||||
| FINANCIAL SERVICES SECURITIES | Teck Resources Ltd. | TCK.B | 878742204 | CA8787422044 | ||||||||||||
| AGF Management Ltd. | AGF.B | 001092105 | CA0010921058 | TransAlta Corporation | TA | 89346D107 | CA89346D1078 | |||||||||
| Bank of Montreal | BMO | 063671101 | CA0636711016 | Transcontinental Inc. | TCL.A | 893578104 | CA8935781044 | |||||||||
| Bank of Nova Scotia | BNS | 064149107 | CA0641491075 | Wajax Corporation | WJX | 930783105 | CA9307831052 | |||||||||
| Brookfield Office Properties Inc. | BPO | 112900105 | CA1129001055 | Westshore Terminals Investment Corporation | WTE | 96145A200 | CA96145A2002 | |||||||||
| Canadian Imperial Bank of Commerce | CM | 136069101 | CA1360691010 | ENERGY SECURITIES | ||||||||||||
| Davis + Henderson Corporation | DH | 239057102 | CA2390571024 | AltaGas Ltd. | ALA | 021361100 | CA0213611001 | |||||||||
| First Capital Realty Inc. | FCR | 31943B100 | CA31943B1004 | ARC Resources Ltd. | ARX | 00208D408 | CA00208D4084 | |||||||||
| Genworth MI Canada Inc. | MIC | 37252B102 | CA37252B1022 | Baytex Energy Corporation | BTE | 07317Q105 | CA07317Q1054 | |||||||||
| Great-West Lifeco Inc. | GWO | 39138C106 | CA39138C1068 | Bonavista Energy Corporation | BNP | 09784Y108 | CA09784Y1088 | |||||||||
| Killam Properties Inc. | KMP | 494104870 | CA4941048700 | Bonterra Energy Corporation | BNE | 098546104 | CA0985461049 | |||||||||
| Laurentian Bank of Canada | LB | 51925D106 | CA51925D1069 | Canadian Oil Sands Ltd. | COS | 13643E105 | CA13643E1051 | |||||||||
| Manulife Financial Corporation | MFC | 56501R106 | CA56501R1064 | Crescent Point Energy Corporation | CPG | 22576C101 | CA22576C1014 | |||||||||
| National Bank of Canada | NA | 633067103 | CA6330671034 | Crew Energy Inc. | CR | 226533107 | CA2265331074 | |||||||||
| Power Financial Corporation | PWF | 73927C100 | CA73927C1005 | Enbridge Inc. | ENB | 295250N105 | CA295250N1050 | |||||||||
| Royal Bank of Canada | RY | 780087102 | CA7800871021 | Enbridge Income Fund Holdings Inc. | ENF | 29251R105 | CA29251R1055 | |||||||||
| Sun Life Financial Inc. | SLF | 866796105 | CA8667961053 | Encana Corporation | ECA | 292505104 | CA2925051047 | |||||||||
| The Toronto-Dominion Bank | TD | 891160509 | CA8911605092 | Enerplus Corporation | ERF | 292766102 | CA2927661025 | |||||||||
| OTHER DIVIDEND PAYING EQUITY SECURITIES | Freehold Royalties Ltd. | FRU | 356500108 | CA3565001086 | ||||||||||||
| Aimia Inc. | AIM | 00900Q103 | CA00900Q1037 | Gibson Energy Inc. | GEI | 374825206 | CA3748252069 | |||||||||
| Algonquin Power & Utilities Corporation | AQN | 015857105 | CA0158571053 | Husky Energy Inc. | HSE | 448055103 | CA4480551031 | |||||||||
| Amica Mature Lifestyles Inc. | ACC | 031498207 | CA0314982079 | Inter Pipeline Fund | IPL.UN | 45833P102 | CA45833P1027 | |||||||||
| Atlantic Power Corporation | ATP | 04878Q863 | CA04878Q8636 | Keyera Corporation | KEY | 493271100 | CA4932711001 | |||||||||
| Barrick Gold Corporation | ABX | 067901108 | CA0679011084 | Lightstream Resources Ltd. | LTS | 53227K101 | CA53227K1012 | |||||||||
| BCE Inc. | BCE | 05534B760 | CA05534B7604 | Mullen Group Ltd. | MTL | 625284104 | CA6252841045 | |||||||||
| Bell Aliant Inc. | BA | 07786R204 | CA07786R2046 | Parkland Fuel Corporation | PKI | 70137T105 | CA70137T1057 | |||||||||
| Bombardier Inc. | BBD.B | 097751200 | CA0977512007 | Pembina Pipeline Corporation | PPL | 706327103 | CA7063271034 | |||||||||
| Brookfield Infrastructure Partners LP | BIP.UN | G16252101 | BMG162521014 | Pengrowth Energy Corporation | PGF | 70706P104 | CA70706P1045 | |||||||||
| Canexus Corporation | CUS | 13751W103 | CA13751W1032 | Penn West Petroleum Ltd. | PWT | 707887105 | CA7078871059 | |||||||||
| Canfor Pulp Products Inc. | CFX | 137584207 | CA1375842079 | Petrominerales Ltd. | PMG | 71673R107 | CA71673R1073 | |||||||||
| Capital Power Corporation | CPX | 14042M102 | CA14042M1023 | Peyto Exploration & Development Corporation | PEY | 717046106 | CA7170461064 | |||||||||
| Capstone Infrastructure Corporation | CSE | 14069Q101 | CA14069Q1019 | PHX Energy Services Corporation | PHX | 69338U101 | CA69338U1012 | |||||||||
| Centerra Gold Inc. | CG | 152006102 | CA1520061021 | Precision Drilling Corporation | PD | 74022D308 | CA74022D3085 | |||||||||
| Chemtrade Logistics Income Fund | CHE.UN | 16387P103 | CA16387P1036 | Renegade Petroleum Ltd. | RPL | 75971G101 | CA75971G1019 | |||||||||
| Cineplex Inc. | CGX | 172454100 | CA1724541000 | Savanna Energy Services Corporation | SVY | 804694107 | CA8046941073 | |||||||||
| CML HealthCare Inc. | CLC | 12582Q103 | CA12582Q1037 | Surge Energy Inc. | SGY | 86880Y109 | CA86880Y1097 | |||||||||
| Corus Entertainment Inc. | CJR.B | 220874101 | CA2208741017 | Trilogy Energy Corporation | TET | 89620H105 | CA89620H1055 | |||||||||
| EnerCare Inc. | ECI | 29269C207 | CA29269C2076 | Twin Butte Energy Ltd. | TBE | 901401307 | CA9014013077 | |||||||||
| Extendicare Inc. | EXE | 30224T863 | CA30224T8639 | Veresen Inc. | VSN | 92340R106 | CA92340R1064 | |||||||||
| Gamehost Inc. | GH | 36468B104 | CA36468B1040 | Vermilion Energy Inc. | VET | 923725105 | CA9237251058 | |||||||||
| Genivar Inc. | GNV | 37230Q205 | CA37230Q2053 | Whitecap Resources Inc. | WCP | 96467A200 | CA96467A2002 | |||||||||
A preliminary short form prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in all of the provinces and territories of Canada. The preliminary short form prospectus is still subject to completion or amendment. Copies of the preliminary short form prospectus may be obtained from Canaccord Genuity or your IIROC registered financial advisor. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final short form prospectus has been issued.
SOURCE: MINT Income 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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