Globalance Dividend Growers completes US$60 million IPO

On October 23, 2015, Globalance Dividend Growers Corp. (the “Fund”) completed an initial public offering of 6,000,000 equity shares (the “Equity Shares”) at a price of $10.00 per Equity Shares for gross proceeds of $60 million. The Fund is designed to provide holders of Equity Shares with stable monthly cash distributions and to grow distributions over time and enhanced long-term total return through capital appreciation of the Fund’s investment portfolio through an investment strategy which focuses primarily on investing in securities of global issuers that exhibit sustainable dividend growth, supplemented by investments in investment-grade fixed income securities to seek to reduce overall portfolio volatility. The offering was made through a syndicate of agents co-led by CIBC and RBC Capital Markets and including Scotiabank, BMO Capital Markets, TD Securities Inc., GMP Securities L.P., National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd., Dundee Securities Ltd., Mackie Research Capital Corporation, Manulife Securities Incorporated and Middlefield Capital Corporation. The Fund and its manager, Middlefield Limited, were advised by a team from Fasken Martineau consisting of Stephen Erlichman, John Sabetti, Daniel Fuke and Dylan Chochla (Securities) and Mitchell Thaw (Tax).