Initial Public Offering ? Maximum $25,000,000

TORONTO, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Middlefield Group®, on behalf of Discovery 2023 Short Duration LP ("Discovery 2023" or the "Partnership"), is pleased to announce that it has filed a preliminary prospectus relating to the initial public offering of Discovery 2023 Class A and Class F units. The offering will be made in each province of Canada.

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 68 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 is being 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., Echelon Wealth Partners Inc., Raymond James Ltd., Wellington-Altus Private Wealth Inc., and Middlefield 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.

A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from members of the syndicate of agents listed above or from your CIRO registered financial advisor using the contact information for such agent or CIRO advisor. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.