Middlefield Provides an Update for MBN Corporation
April 06 2022 - 7:26AM
The Board of Directors of Middlefield Limited (the “Manager”),
manager of MBN Corporation (“MBN” or the “Corporation”), would like
to confirm that, as previously described in the press release dated
March 8, 2022, all equity shares of the Corporation (the
“
Equity Shares”) will be redeemed effective April
21, 2022 (the “Redemption Date”).
The Corporation has applied to the Toronto Stock
Exchange to voluntarily de-list the Equity Shares as of the close
of trading on the Redemption Date. The Manager expects redemption
proceeds to be paid out to holders of Equity Shares of record as of
the Redemption Date by April 28, 2022, with the Corporation
dissolving as soon as practicable thereafter.
Please note there should be no tax consequences
to those shareholders who hold their investment within registered
plans, such as RRSPs, TFSAs, etc. We encourage you to discuss your
various alternatives with your investment advisor regarding the
redemption and determine what strategy is most suitable for you to
achieve your personal needs and objectives.
Middlefield Group
Formed in 1979, Middlefield creates equity
income mandates designed to balance risk and return to meet the
demanding requirements of Financial Advisors and their clients.
These financial products include TSX-Listed IPOs and ETFs, Mutual
Funds, Split Share Corporations, Flow Through LPs and Real Estate
Investment Funds and Partnerships.
For further information, please visit our website at
www.middlefield.com or contact Nancy Tham in our Sales and
Marketing Department at 1.888.890.1868.
You will usually pay brokerage fees to your
dealer if you purchase or sell units/shares of investment funds on
the Toronto Stock Exchange or other alternative Canadian trading
system (an “Exchange”). If the units/shares are purchased or sold
on an Exchange, investors may pay more than the current net asset
value when buying and may receive less than the current net asset
value when selling them.
There are ongoing fees and expenses associated
with owning units or shares of an investment fund. An investment
fund must prepare disclosure documents that contain key information
about the fund. You can find more detailed information about the
fund in these documents. The indicated rates of return are the
historical annual compounded total returns, including changes in
unit or share value and reinvestment of all distributions, and does
not take into account certain fees such as redemption fees or
optional charges or income taxes payable by any securityholder that
would have reduced returns. Investment funds are not guaranteed,
their values change frequently and past performance may not be
repeated.
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