News

BACK


Ridgewood Canadian Investment Grade Bond Fund Closes Public Offering

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Toronto, Ontario – December 15, 2011 – Ridgewood Capital Asset Management Inc. is pleased to announce the closing of the previously announced public offering of units of Ridgewood Canadian Investment Grade Bond Fund (the “Fund”). The offering consists of 1,335,914 units at $11.47 per unit for gross proceeds of approximately $15.3 million. The units are listed on the Toronto Stock Exchange under the symbol RIB.UN. The Fund has granted the agents an over-allotment option to acquire additional units exercisable at any time during the next thirty days.

The Fund seeks to achieve the following investment objectives: (i) to provide unitholders with monthly cash distributions, initially targeted to be 5.25% per annum on the original issue price of $12.00 per unit; and (ii) to maximize total returns for unitholders while preserving capital in the long term.

The syndicate of agents for the offering is being co-led by TD Securities Inc., CIBC and RBC Capital Markets and includes BMO Capital Markets, GMP Securities L.P., National Bank Financial Inc., Scotia Capital Inc., Raymond James Ltd., Canaccord Genuity Corp., Macquarie Group and Manulife Securities Incorporated.

About Ridgewood Capital Asset Management Inc.:

Ridgewood is an independent investment manager that manages approximately $1 billion in assets for a diversified client base of high net worth individuals, foundations/endowments, First Nation mandates and institutional accounts, of which approximately $500 million is invested in fixed income assets.

For more information please call John H. Simpson, CFA, Managing Director, Ridgewood Capital Asset Management Inc. at (416) 479-2751.