Middlefield Completes Expansion of Actively Managed Global ETF Platform

Middlefield Group is pleased to announce the expansion of its actively managed global ETF platform through the conversions into exchange-traded funds (“ETFs”) of Global Innovation Dividend Fund (TSX: BL.UN), Sustainable Infrastructure Dividend Fund (TSX. INF.UN) and Global Dividend Growers Income Fund (TSX: GDG.UN) (collectively, the “Converted Funds”), as approved by unitholders at special meetings held on March 1, 2022. Along with the conversions, a series of product enhancements were made to create a more straightforward and cost-effective ETF platform.

These updates to Middlefield’s ETF platform provide value-added solutions to investors and financial advisors looking for actively managed equity income strategies which investors would have difficulty replicating with passive investment products.

Commencing today, the Converted Funds begin trading as ETFs under the new names and tickers listed below. The conversions to ETFs were not taxable events for unitholders and units of the funds were converted to units of the applicable ETF on a 1:1 basis, with all costs associated with the conversions being borne by the Manager.

Actively Managed Funds Focused on Equity Income
Middlefield Innovation Dividend ETF(formerly Global Innovation Dividend Fund)	MINN(formerly TSX: BL.UN)
Middlefield Sustainable Infrastructure Dividend ETF(formerly Sustainable Infrastructure Dividend Fund)	MINF(formerly TSX: INF.UN)
Middlefield Sustainable Global Dividend ETF(formerly Global Dividend Growers Income Fund)	MDIV(formerly TSX: GDG.UN)

For additional information with respect to Middlefield’s actively managed global ETF platform, including the Converted Funds, refer to the Middlefield ETFs final prospectus dated March 9, 2022.

About Middlefield Group

Formed in 1979, Middlefield creates equity income mandates designed to balance risk and return to meet the demanding requirements of Financial Advisors and their clients. These financial products include TSX-Listed IPOs and ETFs, Mutual Funds, Split Share Corporations, Flow Through LPs and Real Estate Investment Funds and Partnerships.

For further information, please visit our website at www.middlefieldetfs.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "estimates" or "intends" (or negative or grammatical variations thereof), or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Statements which may constitute forward-looking statements relate to: the proposed timing of the conversions and completion thereof and the benefits of the conversions. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of the funds. There are no assurances the fund can fulfill such forward-looking statements and the fund does not undertake any obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the funds, many of which are beyond the control of the funds.

Commissions, trailing commissions, management fees and expenses all may be associated with ETFs. Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.