Middlefield Healthcare & Wellness Dividend Fund announces normal course issuer bid

CALGARY, Nov. 2, 2016 /CNW/ - Middlefield Healthcare & Wellness Dividend Fund announced that it has filed a notice with the Toronto Stock Exchange (the "TSX") and received its approval to make a normal course issuer bid ("NCIB").  Purchases pursuant to the NCIB will be made in the open market through the facilities of the TSX.  This NCIB will commence on November 7, 2016 and will terminate on November 6, 2017.  In accordance with the Declaration of Trust by which the Fund is governed, market purchases pursuant to its NCIB may be effected by the Fund.

The Fund had 11,500,000 units issued and outstanding as at October 25, 2016.  The Fund may, during the 12 month period commencing November 7, 2016 purchase on the TSX up to 1,137,000 units, being 10% of the public float and may not, in any 30 day period, purchase more than 230,000 units, being 2% of the units issued and outstanding.  The Fund will cancel all units purchased pursuant to the bid.  Subject to receiving all necessary regulatory approvals, the Fund may, in lieu of canceling units acquired, hold the units in treasury for resale.  Middlefield Healthcare & Wellness Dividend Fund is implementing the NCIB to allow it to purchase units if and when it makes sense to do so.

Middlefield Healthcare & Wellness Dividend Fund trades on the Toronto Stock Exchange under the symbol "HWF.UN".

SOURCE Middlefield Healthcare & Wellness Dividend Fund