Global Real Estate Dividend Growers Corp. Completes Merger into REIT INDEXPLUS Income Fund

CALGARY, Feb. 12, 2019

The merger was effected on a tax-deferred "rollover" basis. All costs and expenses associated with the merger are being borne by the Manager and not by either of the funds.

Pursuant to the merger, each GRL equity share was automatically exchanged for 0.63545389 units of REIT INDEXPLUS.  This exchange ratio was based on the relative net asset values of GRL and REIT INDEXPLUS as at the close of trading on the Toronto Stock Exchange (the "TSX") on February 11, 2019, which were approximately $8.74 per equity share and $13.75 per unit, respectively.  Approximately 2,434,000 new units of REIT INDEXPLUS were issued in connection with the merger.  At the close of business yesterday, the shares of GRL were delisted and no longer trade on the TSX.

As previously announced, REIT INDEXPLUS will be converting into an ETF later this month, Middlefield REIT INDEXPLUS ETF (TSX: IDR), and as an ETF its units are expected to trade efficiently with tighter bid/ask spreads and closer to its net asset value.

Shareholders of GRL are not required to take any action in order to be in a position to trade their REIT INDEXPLUS units on the TSX, nor is any action required in order to effect the conversion to an ETF.

About Middlefield REIT INDEXPLUS ETF

Providing investors with low-cost exposure to the real estate sector through a combination of indexing and active portfolio management ARIVA.DE Börsen-Geflüster Kurse REIT Indexplus Income Fund -   0,00%   Monthly distribution of $0.065/unit

Units of REIT INDEXPLUS currently trade under the symbol IDR.UN on the TSX and will trade under the symbol IDR following the ETF conversion, which is expected to occur on or about February 19, 2019.

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 conversion and expected completion thereof; and the expected benefits of the conversion. 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 each fund. There are no assurances the funds can fulfill such forward-looking statements and the funds do 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 one or more of the funds, some of which are beyond the control of the funds.

SOURCE Global Real Estate Dividend Growers Corp.