MRF 2021 Resource Limited Partnership’s C$27.5 Million IPO

Fasken acted for Middlefield Limited, the manager of the Partnership.

On April 9, 2021, MRF 2021 Resource Limited Partnership completed the final closing of the initial public offering of MRF 2021 units for total gross proceeds of C$27.5 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, Industrial Alliance Securities Inc., Canaccord Genuity Corp., Echelon Wealth Partners Inc., Middlefield Capital Corporation, PI Financial Corp., and Raymond James Ltd.

The Fasken team consisted of Stephen Erlichman (Picture), John Sabetti, Daniel Fuke and Russell Lindzon (Securities, Investment Products and Wealth Management) and Mitchell Thaw (Tax).

Involved fees earner: Stephen Erlichman – Fasken Martineau; Daniel Fuke – Fasken Martineau; Russell Lindzon – Fasken Martineau; John Sabetti – Fasken Martineau; Mitchell Thaw – Fasken Martineau;

Law Firms: Fasken Martineau;

Clients: Middlefield Limited;

Author: Martina Bellini