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TORONTO, Nov. 22, 2021 /CNW/ - (TSX:
RIB.UN) Ridgewood Capital Asset Management Inc. is
pleased to announce that Ridgewood Canadian Investment Grade Bond
Fund (the "Fund") is undertaking a private placement of 463,955
units of the Fund (the "Units") at a price of $16.30 per Unit, for gross proceeds of
approximately $7.5 million (the
"Offering"). The offering price of the Units is not dilutive to
existing unitholders of the Fund. Closing of the Offering is
expected to take place on or about November
25, 2021.
The net proceeds of the Offering will be used in furtherance of
the Fund's investment objectives, strategies and guidelines. The
Units sold pursuant to the Offering will be subject to resale
restrictions under applicable securities laws. The Offering is
subject to the approval of the Toronto Stock Exchange.
About Ridgewood Capital Asset Management Inc.
Ridgewood is an independent investment manager that manages
approximately $1.6 billion in assets
for a diversified client base of high net worth individuals,
foundations/endowments, First Nation mandates and institutional
accounts, of which approximately $1.3
billion is invested in fixed income assets.
Certain statements in this press release may be viewed as
forward-looking statements. Any statements that express or involve
discussions with respect to expectations, beliefs, plans,
intentions, projections, objectives, assumptions or future events
are not statements of historical fact and may be forward-looking
statements. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results
or events to differ materially from those reflected in the
forward-looking statements, including as a result of changes in the
general economic or political environment, investor interest,
change in applicable legislation and the performance of the Fund.
Accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. Except as
required by applicable securities laws, forward-looking statements
speak only as of the date on which they are made and neither
Ridgewood Capital Asset Management Inc. nor the Fund undertakes any
obligation to update publicly or otherwise revise any
forward-looking statement whether as a result of new information,
future events or other such factors which affect this information.
Investment funds are not covered by the Canada Deposit Insurance
Corporation or by any other government deposit insurer. There is no
assurance that the Fund will be able to achieve its distribution
and capital preservation objectives or that the full amount of a
unitholders investment in the Fund will be returned.
SOURCE Ridgewood Canadian Investment Grade Bond Fund