MRF 2016 Resource Limited Partnership Final Closing April 27, 2016

CALGARY, March 24, 2016 /CNW/ - Middlefield Group^®, on behalf of MRF 2016 Resource Limited Partnership ("MRF 2016" or the "Partnership"), is pleased to announce that it has completed the second closing of the initial public offering of MRF 2016 units for total gross proceeds of $17.2 million. The maximum offering size is $30 million. The offering is being made in each of the provinces of Canada.  The Partnership intends to have a final closing on April 27, 2016.

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 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 56 public and private flow-through funds and has acted as agent or manager for approximately $2.5 billion of resource investments.

The syndicate of agents for the offering is being co-led by CIBC, RBC Capital Markets and Scotiabank, and includes BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., GMP Securities L.P., Manulife Securities Incorporated, Canaccord Genuity Corp., Middlefield Capital Corporation, 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. This press release may contain forward-looking information, including, but not limited to, statements relating to the final closing of the offering of MRF 2016 units and the timing thereof. The timing and completion of the above-mentioned proposed final closing of the offering of MRF 2016 units is subject to customary closing terms and other risks and uncertainties. Undue reliance should not be placed on forward-looking information made herein. The forward-looking information contained in this press release constitutes the Partnership's current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that forward-looking information contained in this press release represents the Partnership's estimate as of any date other than the date of this press release.

SOURCE MRF 2016 Resource Limited Partnership

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