Uranium Focused Energy Fund Completes $203M IPO

On March 20, 2007, Uranium Focused Energy Fund completed its initial public offering of 19,500,000 units at a price of $10.00 per unit for gross proceeds of $195 million. On April 12, 2007, the fund completed the issuance of an additional 840,000 units for gross proceeds of $8.4 million pursuant to the over-allotment option granted to the agents.

The syndicate of agents was co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc., and included Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Blackmont Capital Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Inc., Desjardins Securities Inc., Berkshire Securities Inc., Middlefield Capital Corporation and Research Capital Corporation.

The fund is advised by Middlefield Capital Corporation, a specialty investment manager with more than $4 billion in assets under management.

Middlefield was advised in this offering by a team from Fasken Martineau DuMoulin LLP comprised of Stephen Erlichman and John Sabetti (securities) and Mitchell Thaw (tax).

The agents were advised by McCarthy T├ętrault LLP with a team comprised of Andrew Armstrong and Jonathan Grant (securities) and James Morand (tax).