Real Estate and E-Commerce Corporation announces successful completion of



Not for distribution to the United States News Services or for distribution in the United States.

CALGARI, Alberta, August 24, 2021 (GLOBE NEWSWIRE) – Middlefield Group, on behalf of Real Estate & E-Commerce Split Corp. (TSX: RS and RS.PR.A) (the “Company”) is pleased to announce the successful placement of Class A Treasury shares and preferred shares (“Class A Shares” and “Preference Shares”, respectively). The gross proceeds from the placement are expected to be around $ 31.3 million.

The offering is expected to close approximately Monday, August 30, 2021, subject to certain closing conditions, including approval from the Toronto Stock Exchange.

Class A shares were offered at $ 20.50 per class A share at a yield of 7.6%, and Preferred Shares were offered at $ 10 per preferred share at a yield of 5.3%. The placement prices of Class A shares and preferred shares have been determined so that they do not dilute the latest calculated net asset value per unit of the Company (calculated as of 20 August 2021), adjusted for dividends and certain expenses to be incurred. accrued before or after redemption of the offer.

The company was designed to provide investors with a diversified, actively managed and reliable portfolio of securities from leading North American real estate companies.

Investment objectives of the Company for:

Class A Shares must provide holders with:
(i) non-cumulative monthly cash distribution; and
(ii) the possibility of capital gains from the portfolio impact
Preferred shares must provide holders with:
(i) provide holders with a fixed cumulative preferential quarterly distribution of funds; and
(ii) return the original issue price of US $ 10 to holders at maturity.

Middlefield Capital Corporation provides investment management advice to the Company.

A syndicate of placement agents was run with CIBC Capital Markets and RBC Capital Markets and included National Bank Financial Inc., Scotiabank, Hampton Securities Limited, BMO Capital Markets, Canaccord Genuity Corp., TD Securities Inc., Raymond James. Ltd., iA Private Wealth Inc., Richardson Wealth Limited, Manulife Securities Inc., Desjardins Securities Inc., Middlefield Capital Corporation and Research Capital Corporation.

For more information visit our website at or contact Nancy Tam in our Sales and Marketing department at 1.888.890.1868.

A short baseline prospectus, containing important details of the securities offered, has been filed with the Securities Commissions or similar bodies in each of the provinces of Canada. Copies of the short main shelf prospectus are available from a member of the syndicate. The company intends to file an annex to the short form of the main prospectus and investors should read the short form of the main prospectus and the appendix to the prospectus before making an investment decision. The sale or acceptance of an offer to purchase the offered securities will not take place until the prospectus attachment is filed with the Securities Commission or similar authority in each of the provinces of Canada.


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