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Client Work

Uranium Focused Energy Fund completes US$203 million IPO

Fasken
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Overview

Client

Middlefield Limited

On March 20, 2007, Uranium Focused Energy Fund (the "Fund") completed its initial public offering of 19,500,000 units at a price of $10.00 per unit for gross proceeds of $195 million. On April 12, 2007, the Fund completed the issuance of an additional 840,000 units for gross proceeds of $8.4 million pursuant to the over-allotment option granted to the agents. The syndicate of agents was co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc., and included Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Blackmont Capital Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Inc., Desjardins Securities Inc., Berkshire Securities Inc., Middlefield Capital Corporation and Research Capital Corporation. The Fund is advised by Middlefield Capital Corporation, a specialty investment manager with over $4 billion in assets under management. Since its inception in 1979, Middlefield has established a strong reputation as a creator and manager of unique investment products designed to balance risk and return to meet the demanding requirements of investment advisors and their clients. Middlefield has developed particular expertise in the oil and gas, mining and uranium sectors. The Fund has been designed to capitalize on Middlefield's view that the uranium sector will continue to provide attractive opportunities for investment over the next several years. Middlefield was advised in this offering by a team from Fasken Martineau comprised of Stephen Erlichman and John Sabetti (securities) and Mitchell Thaw (tax).

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