Middlefield Tactical Energy Corporation Completes Amalgamation with Middlefield Bancorp Limited

TORONTO, Feb. 23, 2012 /CNW/ - Middlefield Limited, the manager of Middlefield Tactical Energy Corporation ("Tactical" or the "Fund"), is pleased to announce the amalgamation (the "Amalgamation") of Middlefield Bancorp Limited ("Bancorp") and Tactical, which was approved by the shareholders of each fund earlier this month.

Pursuant to the Amalgamation, each Bancorp share was exchanged for 0.166887541 shares of Tactical, the continuing fund.  This exchange ratio was based on the relative net asset values of Tactical and Bancorp as at the close of trading on the Toronto Stock Exchange on February 22, 2012, which were approximately $6.43 per share and approximately $1.07 per share, respectively.   The Amalgamation was effected on a tax-deferred "rollover" basis.

As previously announced, in conjunction with the Amalgamation and in order to better reflect its broadened mandate, Tactical changed its name to "MBN Corporation." In addition, it is expected that the trading symbol on the Toronto Stock Exchange (the "TSX") for the shares of the Fund will be changed from "OCF" to "MBN" on or about February 28, 2012.  Until such time, "OCF" will remain the trading symbol for the Fund.  Since "MBN" was also the TSX trading symbol for the shares of Bancorp, the historical price information that is associated with this trading symbol is not comparable to the share price information of the Fund following the Amalgamation.

This press release may contain forward-looking information, including with respect to the trading symbol and historical price information of the Fund. These forward-looking statements are subject to various risks and uncertainties that could cause results to differ materially from the expectations expressed. The forward-looking information contained in this press release constitutes the Fund's current expectation, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund's estimate as of any date other than the date of this press release.

SOURCE Middlefield Bancorp Limited

For further information:

on the Fund, please visit our website at www.middlefield.com or contact your financial advisor or Garth Jestley at 416 847-5346

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Middlefield Bancorp Limited

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Middlefield Tactical Energy Corporation

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