CALGARY, Sept. 17, 2014 /CNW/ - Middlefield Group is pleased to announce the closing of its 54th resource fund, Discovery 2014 Flow-Through Limited Partnership ("Discovery" or the "Partnership"), which raised total proceeds of $30 million, the maximum permitted under the prospectus.
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 in the resource sector.
Discovery's focus will be to construct a diversified portfolio of high quality, attractively valued companies which offer strong growth prospects and are led by experienced management teams.
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 54 public and private flow-through funds and has acted as agent or manager for over $2.3 billion of resource investments.
The syndicate of agents for the offering was co-led by RBC Capital Markets and CIBC and included Scotiabank, BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., GMP Securities L.P., Manulife Securities Incorporated, Canaccord Genuity Corp., Middlefield Capital Corporation and Raymond James Ltd.
SOURCE: Discovery 2014 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.