Uranium Focused Energy Fund - Offering of units with warrants



    TORONTO, Nov. 9 /CNW/ - Middlefield Group, on behalf of Uranium Focused
Energy Fund (the "Fund"), is pleased to announce that the Fund has filed a
preliminary prospectus with respect to an offering of Combined Units. Each
Combined Unit consists of one Unit of the Fund and one transferable Unit
purchase warrant exercisable at a price to be based on net asset value at the
time of filing the final prospectus. The warrants will expire on December 15,
2009.
    Middlefield Capital Corporation (the "Advisor") acts as the investment
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 uranium, oil and gas and mining
sectors for many years.
    The Fund has launched the offering to capitalize on the view of the
Advisor that the uranium sector will continue to provide attractive
opportunities for investment over the next several years based upon strong
fundamental factors with respect to both supply and demand. In addition, in
light of the recent weakness in the price of uranium related equities, the
Advisor believes it is currently an opportune time to invest in the uranium
sector. The Advisor expects that primary uranium supply will continue to fall
short of global demand over the life of the Fund due predominantly to
limitations in the production capacity of existing mines, while secondary
uranium supplies such as inventories, stockpiles and decommissioned nuclear
weapons, which historically have bridged the global uranium supply shortfall,
are expected to steadily decline. In light of the significant capital and time
requirements associated with the development of new uranium mines, the Advisor
expects uranium prices to remain strong over the life of the Fund, providing a
favourable environment for uranium related companies.
    The Fund's investment objectives are to achieve capital appreciation of
the portfolio over the life of the Fund and to pay quarterly distributions to
Unitholders.
    In order to achieve the Fund's investment objectives, the portfolio is
primarily focused on the securities of issuers that operate in or have
exposure to the uranium sector. The Fund also has the ability to invest in the
securities of other energy related issuers that operate in or have exposure to
the energy sector. As at October 26, 2007, uranium related securities
comprised in excess of 90% of the value of the portfolio. The portfolio is
focused on securities which, in the view of the Advisor, are of high quality
issuers that exhibit strong fundamentals and, in the case of issuers of
uranium related securities, offer the potential to benefit from the favourable
supply-demand fundamentals underpinning the uranium sector.
    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., Berkshire
Securities Inc., Blackmont Capital Inc., Desjardins Securities Inc.,
Middlefield Capital Corporation, Research Capital Corporation, Richardson
Partners Financial Ltd. and Wellington West Capital Inc.
    The Units are listed and posted for trading on the Toronto Stock Exchange
(the "TSX") under the symbol "UF.UN". Additionally, the Fund has applied to
list on the TSX the Units and the Warrants issuable pursuant to this Offering,
and the Units issuable upon exercise of the Warrants. Listing will be subject
to the Fund fulfilling all of the listing requirements of the TSX.

    A preliminary prospectus relating to these securities has been filed with
securities commissions or similar authorities in all of the provinces of
Canada, the Yukon Territory and the Northwest Territories 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 of Canada, the Yukon Territory or the Northwest
Territories 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

URANIUM FOCUSED ENERGY FUND

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