IDR Middlefield REIT INDEXPLUS ETF

Middlefield REIT INDEXPLUS ETF (the “Fund”) (TSX: IDR) wishes to remind investors of the upcoming merger of Middlefield Can-Global REIT Income Fund into the Fund on or about February 15, 2022 (the “Merger”).

The Merger is expected to result in a Fund with a larger market capitalization, increased trading liquidity and lower operating costs on a per unit basis.

In addition, as a result of the Merger and the successful performance of the Fund, it is announcing a special distribution will be made to holders of record as at the close of business on February 11, 2022. Subject to a final review of the Fund’s taxable income prior to the Merger, it is expected that the special distribution will be approximately $0.085 per unit, which will be automatically reinvested in additional units to be determined based on the net asset value per unit as of February 11, 2022. Immediately following the issuance, the units of the Fund will be automatically consolidated such that the number of units will remain unchanged from the number outstanding immediately prior to the special distribution.

The Fund’s units trade on the Toronto Stock Exchange under the symbol IDR.

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

This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund’s portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains.  The risks, uncertainties and other factors that could influence actual results are described under “Risk Factors” in the Fund’s prospectus and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund’s current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund's estimate as of any date other than the date of this press release.