CALGARY, Oct. 26, 2017 /CNW/ - Middlefield Group®, on behalf of Discovery 2017 Flow-Through Limited Partnership ("Discovery 2017" or the "Partnership"), is pleased to announce that it has completed the first closing of the initial public offering of Discovery 2017 units for total gross proceeds of $6 million. The offering is being made in each of the provinces of Canada. The Partnership intends to have a final closing on November 28, 2017.
The objectives of the Partnership are to provide investors with capital appreciation and significant tax benefits to enhance after-tax returns to limited partners, including the deductibility of 100% of their original investment. The Partnership intends to achieve these objectives by investing in an actively managed, diversified portfolio comprised primarily of equity securities of Canadian exploration, development and production companies involved primarily in the mining and oil and gas sectors.
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 58 public and private flow-through funds and has acted as agent or manager for over $2.5 billion of resource investments.
The syndicate of agents for the offering is being co-led by RBC Capital Markets and CIBC Capital Markets and includes Scotiabank, BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., GMP Securities L.P., Manulife Securities Incorporated, Canaccord Genuity Corp., Middlefield Capital Corporation, Echelon Wealth Partners Inc., Industrial Alliance Securities Inc. and Raymond James Ltd.
This offering is 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 2017 Flow-Through Limited Partnership
For further information: please visit our website at www.middlefield.com or contact Nancy Tham or Michael Bury in our Sales and Marketing Department at 1.888.890.1868.