Liquidity Date Accelerated to October 12, 2011
TORONTO, Sept. 22, 2011 /CNW/ - Middlefield Mutual Funds Limited
announced today that, in connection with the planned dissolution of
Discovery 2009 Flow-Through Limited Partnership ("Discovery 2009" or
the "Partnership", CUSIP: 25470T104), it is proposing to transfer all
of the assets of Discovery 2009 to the Precious Metals Class (MID170)
of Middlefield Mutual Funds Limited in exchange for mutual fund shares
having the same aggregate net asset value as that of the Partnership.
The record date for the transfer is September 26, 2011 and the
liquidity date is October 12, 2011. These dates have been accelerated
from the dates disclosed in the Discovery 2009 prospectus. Appropriate
elections under applicable income tax legislation will be made to
effect the transfer on a tax-deferred basis.
It is currently intended that Discovery 2009 will be dissolved on or
about October 12, 2011. Investors will then be able to redeem their
Precious Metals Class (MID170) shares, retain them for longer-term
growth or switch tax-free into any of the other Middlefield Mutual Fund
classes. Remaining invested in the mutual fund avoids incurring the
capital gains tax liability that arises upon redemption of the mutual
There are nine available asset classes within the mutual fund family,
providing significant flexibility to suit numerous investment
objectives including safety of capital, income and growth. The classes
currently offered are Groppe Tactical Energy, Precious Metals, Income
Plus, ActiveIndex REIT, Income and Growth, Canadian Growth, Global
Agriculture, Uranium Focused Metals and Short-Term Income. The transfer
will provide the partners of the Partnership with liquidity and the
ability to diversify their investments by participating in a large,
multi-class mutual fund family.
In addition, Middlefield Group, on behalf of Discovery 2011 Flow-Through
Limited Partnership, is pleased to announce that it has filed a final
prospectus relating to the initial public offering of Discovery 2011
units. The offering is being made in each of the provinces and
territories of Canada and closing is scheduled for October 27, 2011.
Investors should consult their advisors to determine the strategy that
is most suitable for them for the achievement of their own personal
needs and objectives.
SOURCE Discovery 2009 Flow-Through Limited Partnership
For further information:
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.
Calgary: 812 Memorial Drive NW, Calgary, Alberta T2N 3C8
Toronto: First Canadian Place, 58th Floor, P.O. Box 192, Toronto, Ontario M5X 1A6