TORONTO, June 14, 2013 /CNW/ - Ridgewood Capital Asset Management Inc.
(the "Manager"), the manager of Ridgewood Canadian Investment Grade Bond Fund (TSX:
RIB.UN) (the "Fund"), announces that a special meeting (the "Meeting") of holders (the "Unitholders") of the Fund's units (the "Units") will be held on July 25, 2013, commencing at 10:00 a.m. at the
offices of Fasken Martineau DuMoulin LLP, 333 Bay Street, Suite 2400,
The purpose of the Meeting is to seek Unitholder approval of a five-year
extension of the term of the Fund from December 31, 2014 until December
31, 2019 (the "Proposed Extension").
Details regarding the Proposed Extension will be contained in an
information circular (the "Circular") which is expected to be mailed to Unitholders in early July 2013. The
record date for the special meeting is June 24, 2013. Unitholders are
encouraged to complete and return their proxy forms in order that their
Units can be voted at the Meeting. The board of directors of the
Manager has determined that the Proposed Extension is in the best
interest of the Fund and, accordingly, recommends that Unitholders vote
in favour of the ordinary resolution authorizing the Proposed
In connection with the Meeting, TD Securities Inc. ("TDSI") was engaged to act as financial advisor and assist the Fund in
obtaining proxies in favour of the Proposed Extension.
In addition to the business to be conducted at the Meeting, the Manager
has authorized the Fund to create a second class of units of the Fund
(the "Class B Units"). A description of the terms and conditions attaching to the Class B
Units will be provided in the Circular.
The Proposed Extension and the proposed creation of the Class B Units
are subject to approval of the Toronto Stock Exchange.
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.
Statements which may constitute forward-looking statements relate to:
the proposed timing of the Meeting, the mailing of the information
circular and the record date for the Meeting; the nature of the
Proposed Extension; the expected benefits of the Proposed Extension;
and the creation of the Class B Units. 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 the Fund. Such forward-looking
statements are only predictions; actual events or results may differ
materially and the Fund does not undertake any obligation to update
SOURCE: Ridgewood Canadian Investment Grade Bond Fund
For further information:
For further information regarding the Fund, please visit the Ridgewood Capital Asset Management website at www.ridgewoodcapital.ca or contact John H. Simpson, CFA, Managing Director, Ridgewood Capital Asset Management Inc. at 416 479 2751.