OilSands Canada Corporation - Initial public offering



    TORONTO, June 6 /CNW/ - Middlefield Group, on behalf of OilSands Canada
Corporation (the "Fund"), is pleased to announce that it has filed a
preliminary prospectus in relation to the initial public offering of Units at
a price of $10.00 per Unit. Each Unit consists of one equity share and
one-half equity share purchase warrant. Each whole warrant is exercisable at a
price of $10.25 and expires on July 31, 2010.
    Middlefield Capital Corporation (the "Advisor") will act as the Advisor
responsible for managing the Fund's investments, including asset mix and
security selection. With approximately $4.0 billion in assets under
management, Middlefield has specialized in the oil and gas and mining sectors
for many years. Groppe, Long & Littell (the "Special Advisor"), a Houston,
Texas based oil and gas consulting firm, will be Special Advisor to
Middlefield, providing it with an analysis of the global economic and
political forces impacting the prices of oil and natural gas. Henry Groppe,
the founder of the Special Advisor, will be the individual primarily involved
in providing services to the Fund. Mr. Groppe has over 50 years of experience
in the oil, natural gas and petrochemical industries.
    The Fund has been created to provide long-term capital appreciation by
investing in an actively managed, diversified portfolio comprised primarily of
publicly-listed energy-related equity securities of issuers that operate in or
have exposure to the Canadian oil sands sector. Additionally, up to 20% of the
portfolio may be invested in securities of private issuers operating in the
oil sands sector which, in the view of the Advisor, are acquisition targets or
are likely to become publicly-listed in the near to mid term, thereby offering
the potential for capital appreciation.
    Based upon the analysis provided by the Special Advisor, it is the view
of the Advisor that the Canadian oil sands sector will continue to offer
attractive opportunities for investment and considerable growth prospects for
oil sands participants. Important attributes of the Canadian oil sands sector
include: the quality and size of the oil sands resource base; Canada's
politically stable investment environment; and Canada's strategic proximity to
the United States, the world's largest energy consumer.
    Individuals investing in OilSands Canada Corporation will have the option
of paying for units by exchanging securities of certain specified issuers,
subject to the terms and conditions set forth in the prospectus. By exchanging
securities for units of OilSands Canada Corporation, investors are able to
achieve the benefits of diversification and professional management.
    The syndicate of agents is being co-led by CIBC World Markets Inc. and
RBC Capital Markets, and includes BMO Nesbitt Burns Inc., National Bank
Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital
Corporation, Raymond James Ltd., Dundee Securities Corporation, HSBC
Securities (Canada) Inc., Blackmont Capital Inc., Wellington West Capital
Inc., Berkshire Securities Inc., Desjardins Securities Inc., Middlefield
Capital Corporation, Research Capital Corporation and Richardson Partners
Financial Ltd.

    A preliminary prospectus relating to these securities has been filed with
securities commissions or similar authorities in all of the provinces and
territories of Canada but has not yet become final for the purpose of a
distribution to the public. This material shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any sale or
any acceptance of an offer to buy these securities in any province or
territory of Canada prior to the time a receipt for the final prospectus or
other authorization is obtained from the securities commission or similar
authority in such province or territory.





For further information:

For further information: please visit our website at www.middlefield.com
or contact Nancy Tham, Senior Vice-President, at (416) 847-5349 or toll free
at 1-888-890-1868

Organization Profile

OILSANDS CANADA CORPORATION

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