WORKPLACE TECHNOLOGY DIVIDEND FUND IPO Raises $70 Million

TORONTO, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Middlefield Group, on behalf of Workplace Technology Dividend Fund (the "Fund"), is pleased to announce that the Fund has completed its initial public offering of 7,000,000 units at a price of $10.00 per unit for gross proceeds of $70 million. The units are listed on the Toronto Stock Exchange under the symbol WORK.UN.

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 business models that provide technology-based solutions to drive increases in workplace productivity (collectively, "Workplace Technology Issuers"). In addition, the Advisor (as defined below) will integrate environmental, social and governance considerations to complement fundamental analysis in selecting Workplace Technology Issuers it believes have sustainable competitive advantages.

The initial target distribution yield for the Fund is 4% per annum based on the original subscription price (or $0.03333 per unit per month or $0.40 per unit per annum).

Middlefield Capital Corporation (the "Advisor") will provide investment management advice to the Fund. Mr. Paul Sagawa will act as a consultant to the Advisor and in such capacity will provide ongoing analysis regarding innovative technology & communications themes.

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

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.