Pathfinder Convertible Debenture Fund Announces Pricing of Treasury Offering

Maximum $75,000,000

TORONTO, Aug. 24, 2012 /CNW/ - Middlefield Group, on behalf of Pathfinder Convertible Debenture Fund (TSX: PCD.UN) ("Pathfinder" or the "Fund"), is pleased to announce that the Fund's treasury offering has been priced at $12.33 per unit. The closing of the offering is expected to occur on or about August 31, 2012, which has been moved up from September 5, 2012. As a result, investors purchasing units of the treasury offering will be entitled to the distribution of $0.065 per unit for the month ending August 31, 2012, which will be paid on September 14, 2012.

Pathfinder obtains exposure to an actively managed diversified portfolio comprised primarily of convertible debentures of Canadian issuers.  Middlefield Capital Corporation, the Advisor, believes that convertible debentures represent an appealing investment opportunity, providing:

I.     high levels of stable current income and attractive yields to maturity;
II.     additional stability and safety of a senior security position relative to an investment in equities, income trust securities or preferred securities; and
III.     the potential for common equity-like returns.

Formed in 1979, Middlefield Group creates and manages specialized investment products for individual and institutional investors and has assets under management of approximately $3 billion.

The syndicate of agents is being led by CIBC and RBC Capital Markets and includes BMO Capital Markets, National Bank Financial Inc., Scotiabank, TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Middlefield Capital Corporation, Raymond James Ltd., Macquarie Private Wealth Inc. and Dundee Securities Ltd.

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.  Investors should read the prospectus before making an investment decision.

SOURCE: Pathfinder Convertible Debenture 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.