Middlefield Can-Global REIT Income Fund Announces Exchange Ratios

CALGARY, Nov. 9, 2012 /CNW/ - Middlefield Group, on behalf of Middlefield Can-Global REIT Income 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 October 26, 2012.

The Fund's investment objectives are to:

(i) provide holders of units of the Fund (the "Units") with stable monthly cash distributions, and

(ii) enhance long-term total return through capital appreciation of the Fund's investment portfolio,

through an investment strategy which is focused on primarily equity-based securities of issuers operating in the Canadian and global real estate sectors utilizing active and low-cost passive portfolio management.

The initial target distribution yield for the Fund is expected to be 6.5% per annum based on the original subscription price (or $0.05416 per Unit per month or $0.65 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 for common shares and income trust units, 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 November 9, 2012 (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 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
                               
Allied Properties Real Estate Investment Trust     AP-U     019456102     CA0194561027     31.5559     3.15559
Artis Real Estate Investment Trust     AX-U     04315L105     CA04315L1058     16.0229     1.60229
Boardwalk Real Estate Investment Trust     BEI-U     096631106     CA0966311064     63.1174     6.31174
Brookfield Canada Office Properties     BOX-U     112823109     CA1128231091     29.1442     2.91442
Brookfield Office Properties Inc.     BPO     112900105     CA1129001055     16.2494     1.62494
Calloway Real Estate Investment Trust     CWT-U     131253205     CA1312532056     28.9284     2.89284
Canadian Apartment Properties Real Estate Investment Trust     CAR-U     134921105     CA1349211054     23.8846     2.38846
Canadian Real Estate Investment Trust     REF-U     13650J104     CA13650J1049     40.9844     4.09844
Chartwell Seniors Housing Real Estate Investment Trust     CSH-U     16140U100     CA16140U1003     10.1170     1.01170
Cominar Real Estate Investment Trust     CUF-U     199910100     CA1999101001     23.2139     2.32139
Crombie Real Estate Investment Trust     CRR-U     227107109     CA2271071094     14.9312     1.49312
Dundee Industrial Real Estate Investment Trust     DIR-U     26518K105     CA26518K1057     11.0020     1.10020
Dundee International Real Estate Investment Trust     DI-U     26518R209     CA26518R2090     10.8593     1.08593
Dundee Real Estate Investment Trust     D-U     265270207     CA2652702077     35.8080     3.58080
Extendicare Inc.     EXE     30224T863     CA30224T8639     7.7471     0.77471
First Capital Realty Inc.     FCR     31943B100     CA31943B1004     18.3920     1.83920
H&R Real Estate Investment Trust     HR-U     404428203     CA4044282032     24.0702     2.39660
HealthLease Properties Real Estate Investment Trust     HLP-U     422239103     CA4222391035     11.3191     1.13191
InnVest Real Estate Investment Trust     INN-U     45771T132     CA45771T1324     4.6134     0.46134
iShares S&P/TSX Capped REIT Index Fund     XRE     46431D103     CA46431D1033     16.6699     1.66699
Killam Properties Inc.     KMP     494104870     CA4941048700     12.6472     1.26472
NorthWest Healthcare Properties Real Estate Investment Trust     NWH-U     667495105     CA6674951059     12.8793     1.28793
Primaris Retail Real Estate Investment Trust     PMZ-U     74157U109     CA74157U1093     23.1827     2.31827
Pure Industrial Real Estate Trust     AAR-U     74623T108     CA74623T1084     4.8342     0.48342
RioCan Real Estate Investment Trust     REI-U     766910103     CA7669101031     26.9397     2.69397
                               

The syndicate of agents is being co-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., Macquarie Private Wealth Inc., Raymond James Ltd., Middlefield Capital Corporation, Dundee Securities Ltd. and Mackie Research Capital Corporation.

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: Middlefield Can-Global REIT Income Fund

For further information:

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.