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Global Dividend Growers Income Fund completes US$65 million IPO

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Middlefield Limited

On March 22, 2013, Global Dividend Growers Income Fund (the “Fund”) completed its initial public offering of 6,500,000 units (the “Units”) at a price of $10.00 per Unit for gross proceeds of $65 million. The Fund is designed to offer unit-holders stable monthly cash distributions, initially targeted to be 6.0% per annum based on the original subscription price of $10.00 per Unit, and the opportunity for 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 offering was made through a syndicate of agents co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc. and included Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., 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. The Fund and its manager, Middlefield Limited, were advised by a team from Fasken Martineau consisting of Stephen Erlichman, John Sabetti, Daniel Fuke, Will Shaw, Mitchell Thaw and Dylan Chochla.



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