Discovery 2022 Short Duration LP Closes IPO

TORONTO, Nov. 23, 2022 (GLOBE NEWSWIRE) -- Middlefield Group®, on behalf of Discovery 2022 Short Duration LP (the "Partnership"), is pleased to announce that it has completed the final closing of the initial public offering of Discovery 2022 Class A and Class F units for total gross proceeds of approximately $17.6 million.

The objectives of the Partnership are to provide investors with capital appreciation and significant tax benefits to enhance after-tax returns to limited partners, including the deductibility of 100% of their original investment. The Partnership intends to achieve these objectives by investing in an actively managed, diversified portfolio comprised primarily of equity securities of Canadian gold mining companies.

Middlefield® is a leading provider of flow-through share funds in Canada and has a strong track record of delivering positive after-tax returns. Since 1983, Middlefield has sponsored 67 public and private flow-through funds and has acted as agent or manager for over $2.5 billion of resource investments.

The syndicate of agents for the offering was co-led by RBC Capital Markets and CIBC Capital Markets and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotiabank, TD Securities Inc., Manulife Securities Incorporated, Richardson Wealth Limited, iA Private Wealth Inc., Canaccord Genuity Corp., Middlefield Capital Corporation, Wellington-Altus Private Wealth Inc., Echelon Wealth Partners Inc. and Raymond James Ltd.

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.

This offering was only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your IIROC registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.