Real Estate & E-Commerce Split Corp. announces an overnight stay



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CALGARY, AL, 23 Aug 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 that the Company is conducting a one-day treasury offering of Class A and preferred shares (“Class A Shares” and “Preference Shares”, respectively).

The sales period for this overnight offer will end at 9:00 AM ET on Tuesday, August 24, 2021. Offer is expected to close on or so August 30, 2021, subject to certain closing conditions, including endorsement of Toronto. Stock Exchange (“TSX”).

Class A Shares will be offered at $ 20.50 per Class A share at a yield of 7.6%, and Preferred Shares will be offered at $ 10.00 per Preferred Share at a yield of 5.3%. The closing price on TSX for each of the Class A shares and preferred shares on August 20, 2021 was $ 20.80 and $ 10.60, respectively. The placement prices of Class A shares and preferred shares have been determined in such a way that they do not dilute the last 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) a fixed cumulative preferential quarterly distribution of cash; and
(ii) return the original issue price of US $ 10 to holders at maturity.

Middlefield Capital Corporation provides investment management advice to the Company.

The placement agent syndicate is jointly led by CIBC Capital Markets and RBC Capital Markets.

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 buy the offered securities will not take place until an attachment to the prospectus is filed with the Securities Commission or similar authority in each of the provinces of Canada.


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