CALGARY, Oct. 30, 2013 /CNW/ - Middlefield Group is pleased to announce the closing of its 52nd resource fund, Discovery 2013 Flow-Through Limited Partnership ("Discovery" or the "Partnership"), which raised total proceeds of $25 million, the maximum permitted under the offering.
The objectives of the Partnership are to provide investors with capital appreciation and significant tax benefits to enhance after-tax returns, including the deductibility of 100% of their original investment. The Partnership intends to achieve these objectives by investing in an actively managed, diversified portfolio of equity securities, comprised primarily of flow-through common shares of Canadian exploration, development and production companies involved primarily in mining and supplemented by companies operating in the oil and gas sector.
Middlefield Limited is the General Partner and Manager of the Partnership and Middlefield Capital Corporation is retained as the Portfolio Advisor to the Partnership.
The syndicate of agents for the offering was co-led by RBC Capital Markets and CIBC, and includes Scotiabank, BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Manulife Securities Incorporated, Canaccord Genuity Corp., GMP Securities L.P., Macquarie Private Wealth Inc., Middlefield Capital Corporation, Dundee Securities Ltd. and Raymond James Ltd.
Middlefield is a leading provider of flow-through share funds in Canada and has a strong track record of delivering positive after-tax returns. Since 1983, Middlefield has sponsored 52 public and private flow-through funds and has acted as agent or manager for over $2 billion of resource investments. Discovery's focus is to construct a diversified portfolio of high quality, attractively valued companies which offer strong growth prospects and are led by experienced management teams.
This offering was 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: Discovery 2013 Flow-Through Limited Partnership
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.