International Clean Power Dividend Fund Files Initial Public Offering

CALGARY, Alberta, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Middlefield Group, on behalf of International Clean Power Dividend Fund (the “Fund”), is pleased to announce that it has filed a preliminary prospectus in relation to an initial public offering of units at a price of $10.00 per unit.

The Fund’s investment objectives are to provide holders of units with:

(i) stable monthly cash distributions, and

(ii) enhanced long-term total return through capital appreciation of the Fund’s investment portfolio

through a diversified, actively managed portfolio comprised primarily of dividend paying securities of international issuers focused on, involved in, or that derive a significant portion of their revenue from renewable power and related sectors (collectively, “Clean Power Issuers”). The Advisor (as defined below) believes that Clean Power Issuers will generate attractive risk-adjusted returns for the Fund due to the increasing demand for renewable power stemming from the ongoing reduction in cost associated with renewable power as well as the growing political, corporate and societal support for renewable power. The Advisor believes that these factors will drive ongoing and increasing levels of investor interest in renewable power and related sectors for decades to come. In addition, the Advisor will integrate environmental, social and governance considerations to complement fundamental analysis in selecting Clean Power Issuers it believes have sustainable competitive advantages.

The initial target distribution yield for the Fund is 5% per annum based on the original subscription price (or $0.04167per unit per month or $0.50 per unit per annum).

Middlefield Capital Corporation (the “Advisor”) will provide investment management advice to the Fund.  

Prospective purchasers investing in the Fund have the option of paying for units in cash or by exchanging securities of issuers listed in the preliminary prospectus. Prospective purchasers under the exchange option are required to deposit their exchange eligible securities prior to 5:00 p.m. (Toronto time) on February 25, 2021, in the manner described in the preliminary prospectus.

The syndicate of agents is being co-led by CIBC Capital Markets and RBC Capital Markets, and includes BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., iA Private Wealth Inc., National Bank Financial Inc., Raymond James Ltd., Richardson Wealth Limited, Manulife Securities Incorporated, Hampton Securities Limited, Middlefield Capital Corporation, Echelon Wealth Partners Inc. and Mackie Research Capital Corporation.

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.

A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the agents named above using the contact information for such agent. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

Source: International Clean Power Dividend Fund

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