American Core Sectors Dividend Fund Announces Exchange Ratios

CALGARY, Dec. 5, 2013 /CNW/ - Middlefield Group, on behalf of American Core Sectors Dividend 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 November 28, 2013.

The Fund's investment objectives are to provide:

(i) unitholders with stable monthly cash distributions; and

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

through an investment strategy which focuses on a diversified, actively managed portfolio comprised primarily of dividend-paying securities with a focus on the U.S. consumer, financials, industrials and information technology sectors (collectively, the "Core Sectors") that are expected by Middlefield Capital Corporation to benefit from growth in the U.S. economy.

The initial target distribution yield for the Fund is 5.5% per annum based on the original subscription price (or $0.04583 per unit per month or $0.55 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 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 December 5, 2013 (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 that are declared 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
Consumers          
Alimentation Couche-Tard Inc. ATD/B 01626P403 CA01626P4033 79.1730 7.91730
Canadian Tire Corporation, Limited CTC/A 136681202 CA1366812024 99.3180 9.93180
Cineplex Inc. CGX 172454100 CA1724541000 42.9303 4.29303
Cott Corporation BCB 22163N106 CA22163N1069 9.0076 0.90076
Dollarama Inc. DOL 25675T107 CA25675T1075 86.1576 8.61576
Dorel Industries Inc. DII/B 25822C205 CA25822C2058 37.3538 3.73538
Empire Company Limited EMP/A 291843407 CA2918434077 75.0569 7.50569
George Weston Limited WN 961148509 CA9611485090 80.5255 8.01105
Gildan Activewear Inc. GIL 375916103 CA3759161035 51.5348 5.14268
Linamar Corporation LNR 53278L107 CA53278L1076 41.4243 4.14243
Loblaw Companies Limited L 539481101 CA5394811015 43.7561 4.35161
Magna International Inc. MG 559222401 CA5592224011 85.6214 8.56214
Maple Leaf Foods Inc. MFI 564905107 CA5649051078 16.8651 1.68251
Martinrea International Inc. MRE 573459104 CA5734591046 8.9395 0.89395
Metro Inc. MRU 59162N109 CA59162N1096 63.2843 6.32843
RONA Inc. RON 776249104 CA7762491040 13.0751 1.30751
Saputo Inc. SAP 802912105 CA8029121057 48.1927 4.81927
Shoppers Drug Mart Corporation SC 82509W103 CA82509W1032 58.8069 5.88069
The Jean Coutu Group PJC Inc. PJC/A 47215Q104 CA47215Q1046 18.1912 1.81912
The North West Company Inc. NWC 663278109 CA6632781093 26.5713 2.65713
Tim Hortons Inc. THI 88706M103 CA88706M1032 62.2962 6.22962
           
Financials          
AGF Management Limited AGF/B 001092105 CA0010921058 13.4403 1.34403
Allied Properties Real Estate Investment Trust AP-U 019456102 CA0194561027 32.0759 3.20759
Artis Real Estate Investment Trust AX-U 04315L105 CA04315L1058 14.2493 1.42493
Bank of Montreal BMO 063671101 CA0636711016 70.9933 7.09933
Bank of Nova Scotia BNS 064149107 CA0641491075 64.1485 6.41485
Boardwalk Real Estate Investment Trust BEI-U 096631106 CA0966311064 58.5184 5.85184
Brookfield Asset Management Inc. BAM/A 112585104 CA1125851040 40.9541 4.09541
Brookfield Office Properties Inc. BPO 112900105 CA1129001055 20.4206 2.04206
Calloway Real Estate Investment Trust CWT-U 131253205 CA1312532056 24.6289 2.46289
Canadian Apartment Properties Real Estate Investment Trust CAR-U 134921105 CA1349211054 20.3780 2.03780
Canadian Imperial Bank of Commerce/Canada CM 136069101 CA1360691010 90.1802 9.01802
Canadian Real Estate Investment Trust REF-U 13650J104 CA13650J1049 42.0474 4.20474
Canadian Western Bank CWB 13677F101 CA13677F1018 35.4320 3.52420
Chartwell Retirement Residences CSH-U 16141A103 CA16141A1030 9.8545 0.98545
CI Financial Corp. CIX 125491100 CA1254911003 34.0965 3.40965
Cominar Real Estate Investment Trust CUF-U 199910100 CA1999101001 17.7616 1.76416
Crombie Real Estate Investment Trust CRR-U 227107109 CA2271071094 13.1855 1.31855
Dundee International Real Estate Investment Trust DI-U 26518R209 CA26518R2090 8.2680 0.82680
Dundee Real Estate Investment Trust D-U 265270207 CA2652702077 27.5247 2.75247
Fairfax Financial Holdings Limited FFH 303901102 CA3039011026 413.5919 41.35919
First Capital Realty Inc. FCR 31943B100 CA31943B1004 17.4974 1.74974
FirstService Corporation FSV 33761N109 CA33761N1096 43.5015 4.35015
Genworth MI Canada Inc. MIC 37252B102 CA37252B1022 34.1346 3.41346
Granite Real Estate Investment Trust GRT-U 387437114 CA3874371147 35.0398 3.50398
Great-West Lifeco Inc. GWO 39138C106 CA39138C1068 32.5407 3.25407
H&R Real Estate Investment Trust HR-U 404428203 CA4044282032 21.0777 2.09652
Home Capital Group Inc. HCG 436913107 CA4369131079 81.3218 8.13218
IGM Financial Inc. IGM 449586106 CA4495861060 53.9213 5.39213
Industrial Alliance Insurance & Financial Services Inc. IAG 455871103 CA4558711038 48.3950 4.83950
Intact Financial Corp. IFC 45823T106 CA45823T1066 68.6058 6.81658
Laurentian Bank of Canada LB 51925D106 CA51925D1069 47.1534 4.71534
Manulife Financial Corporation MFC 56501R106 CA56501R1064 20.3230 2.03230
National Bank of Canada NA 633067103 CA6330671034 90.6783 9.06783
Northern Property Real Estate Investment Trust NPR-U 66562P105 CA66562P1053 27.1350 2.71350
Power Corporation of Canada POW 739239101 CA7392391016 32.2238 3.19338
Power Financial Corporation PWF 73927C100 CA73927C1005 35.7941 3.57941
Pure Industrial Real Estate Trust AAR-U 74623T108 CA74623T1084 4.3237 0.43237
RioCan Real Estate Investment Trust REI-U 766910103 CA7669101031 24.2808 2.42808
Royal Bank of Canada RY 780087102 CA7800871021 69.3921 6.93921
Sun Life Financial Inc. SLF 866796105 CA8667961053 36.8357 3.68357
The Toronto-Dominion Bank TD 891160509 CA8911605092 95.4788 9.54788
TMX Group Limited X 87262K105 CA87262K1057 51.5433 5.15433
WPT Industrial Real Estate Investment Trust WIR/U 92937G109 CA92937G1090 8.6132 0.86132
           
Industrials          
Aecon Group Inc. ARE 00762V109 CA00762V1094 15.1161 1.51161
AG Growth International Inc. AFN 001181106 CA0011811068 40.4250 4.04250
Black Diamond Group Limited BDI 09202D207 CA09202D2077 28.5661 2.85661
Bombardier Inc. BBD/B 097751200 CA0977512007 4.7012 0.47008
CAE Inc. CAE 124765108 CA1247651088 11.9910 1.19310
Canadian National Railway Company CNR 136375102 CA1363751027 60.2588 6.00438
Canadian Pacific Railway Limited CP 13645T100 CA13645T1003 163.6151 16.36151
Finning International Inc. FTT 318071404 CA3180714048 24.6379 2.46379
Genivar Inc. GNV 37230Q205 CA37230Q2053 31.2668 3.12668
MacDonald, Dettwiler & Associates Ltd. MDA 554282103 CA5542821031 80.8301 8.08301
Progressive Waste Solutions Ltd. BIN 74339G101 CA74339G1019 27.5498 2.75498
Ritchie Bros, Auctioneers Incorporated RBA 767744105 CA7677441056 21.5992 2.15992
SNC-Lavalin Group Inc. SNC 78460T105 CA78460T1057 47.0052 4.70052
Stantec Inc. STN 85472N109 CA85472N1096 69.9928 6.99928
Toromont Industries Ltd. TIH 891102105 CA8911021050 26.0634 2.59334
Transcontinental Inc. TCL/A 893578104 CA8935781044 16.4480 1.64480
TransForce Inc. TFI 89366H103 CA89366H1038 25.0452 2.50452
Wajax Corporation WJX 930783105 CA9307831052 35.9584 3.59584
Westjet Airlines Ltd. WJA 960410207 CA9604102074 27.9997 2.78997
Westshore Terminals Investment Corporation WTE 96145A200 CA96145A2002 35.0262 3.50262
           
Information Technology          
Constellation Software Inc. CSU 21037X100 CA21037X1006 196.1061 19.51061
Davis + Henderson Corporation DH 239057102 CA2390571024 28.5141 2.85141
Open Text Corporation OTC 683715106 CA6837151068 92.9078 9.29078
Wi-LAN Inc. WIN 928972108 CA9289721081 3.4196 0.33796
           
Other          
BMO S&P 500 Index ETF ZSP 05575T100 CA05575T1003 21.1921 2.11921
CCL Industries Inc. CCL/B 124900309 CA1249003098 83.7815 8.35665
Enerplus Corporation ERF 292766102 CA2927661025 19.6111 1.96111
Extendicare Inc. EXE 30224T863 CA30224T8639 6.7631 0.67631
iShares S&P 500 Index Fund (CAD-Hedged) XSP 46428J105 CA46428J1057 20.7047 2.07047
Norbord Inc. NBD 65548P403 CA65548P4033 31.9591 3.19591
Powershares QQQ Trust Series 1 QQQ 73935A104 US73935A1043 90.9000 9.09000
Regal Lifestyle Communities Inc. RLC 75882T101 CA75882T1012 7.7251 0.77251
SPDR S&P 500 ETF Trust SPY 78462F103 US78462F1030 191.4872 19.14871
Superior Plus Corp. SPB 86828P103 CA86828P1036 11.4523 1.14523
Vanguard S&P 500 Index ETF VFV 92205Y105 CA92205Y1051 34.0452 3.40452


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

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 using the contact information for such advisor.  Investors should read the prospectus before making an investment decision.

 

SOURCE American Core Sectors Dividend 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.