Dissolution Date January 31, 2013
CALGARY, Jan. 9, 2013 /CNW/ - Middlefield Mutual Funds Limited announced today that, in connection with the planned dissolution of Discovery 2010 Flow-Through Limited Partnership ("DISCOVERY 2010" or the "Partnership", CUSIP: 25471B102) on January 31, 2013, it is proposing to transfer all of the assets of DISCOVERY 2010 to the Middlefield Groppe Tactical Energy Class (MID125) of Middlefield Mutual Funds Limited in exchange for mutual fund shares having the same aggregate net asset value as that of the Partnership. Appropriate elections under applicable income tax legislation will be made to effect the transfer on a tax-deferred basis.
Upon dissolution, investors will be able to redeem their Middlefield Groppe Tactical Energy Class (MID125) shares, retain them for longer-term growth or switch tax-free into any of the other Middlefield Mutual Fund classes. Remaining invested in the mutual fund avoids incurring the capital gains tax liability that arises upon redemption of the mutual fund shares.
The Middlefield Groppe Tactical Energy Class actively invests in the oil and gas sector and in 2012 received a Lipper Fund Award and was recognized as Canada's #1 natural resource equity fund over a 1-year period. In addition, Middlefield's Income Plus Class Mutual Fund received two Lipper Fund Awards and was recognized as Canada's #1 neutral balanced mutual fund over the 3-year and 10-year periods ended October 31, 2011.
The dissolution will provide investors in the Partnership with liquidity and the ability to diversify their holdings by participating in a large, multi-class mutual fund family. There are nine available asset classes providing significant flexibility to suit numerous investment objectives including income, growth and safety of capital. In addition to Groppe Tactical Energy and Income Plus, the other classes currently offered are ActiveIndex REIT, Precious Metals, Canadian High Yield, Canadian Dividend Growth, Global Agriculture, Uranium Focused Metals and Short-Term Income.
In addition, Middlefield Group is pleased to announce that it has filed a preliminary prospectus relating to the initial public offering of MRF 2013 Resource Limited Partnership units. The offering is being made in each of the provinces and territories of Canada and is expected to close in mid-February 2013.
Investors should consult their advisors to determine the strategy that is most suitable for them for the achievement of their own personal needs and objectives.
SOURCE: Discovery 2010 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.
Calgary: 812 Memorial Drive NW, Calgary, Alberta T2N 3C8
Toronto: First Canadian Place, 58th Floor, P.O. Box 192, Toronto, Ontario M5X 1A6