Global Dividend Growers Income Fund Closes at $65 Million

CALGARY, March 22, 2013 /CNW/ - Middlefield Group, on behalf of Global Dividend Growers Income Fund (the "Fund"), is pleased to announce that the Fund has completed its initial public offering of 6,500,000 units at a price of $10.00 per unit for gross proceeds of $65 million. The units are listed on the Toronto Stock Exchange under the symbol GDG.UN.

Global Dividend Growers Income Fund has been designed to provide investors with a low-cost investment in global issuers that have exhibited a history of strong dividend growth.

The Fund's investment objectives are to:

(i) provide holders of units with stable monthly cash distributions and to grow distributions over time, and

(ii) enhance long-term total return through capital appreciation of the Fund's investment portfolio, through an investment strategy which combines passive and active portfolio management and entails investing primarily in securities of global, including Canadian and U.S., issuers which have exhibited strong dividend growth.

The initial target distribution yield for the Fund is 6.0% per annum based on the original subscription price (or $0.05 per unit per month or $0.60 per unit per annum).

Middlefield Capital Corporation will act as the investment advisor to the Fund.

The syndicate of agents was co-led by CIBC and RBC Capital Markets and included Scotiabank, TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., Macquarie Private Wealth Inc., Raymond James Ltd., GMP Securities L.P., Mackie Research Capital Corporation, Middlefield Capital Corporation and Dundee Securities 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. Investors should read the prospectus before making an investment decision.

SOURCE: Global Dividend Growers Income Fund

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.