On April 27, 2023, MRF 2023 Resource Limited Partnership (“MRF 2023” or the “Partnership”) completed the final closing of the initial public offering (IPO) of MRF 2023 units for total gross proceeds of C$20.8 million. The offering was made in each of the provinces 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 companies involved in the resource sector.
The syndicate of agents for the offering was co-led by CIBC Capital Markets and RBC Capital Markets, and included BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotiabank, TD Securities Inc., Manulife Securities Incorporated, Richardson Wealth, iA Private Wealth Inc., Canaccord Genuity Corp., Echelon Wealth Partners Inc., Raymond James Ltd, Wellington-Altus Private Wealth Inc., and Middlefield Capital Corporation.
Middlefield Limited, the manager of the Partnership, was advised by Fasken with a team that consisted of Stephen Erlichman, Daniel Fuke and George Soules (Securities, Investment Products and Wealth Management); Mitchell Thaw (Tax); and Cole Halbert (Articling Student).
Jurisdiction
- Ontario
