Canadian Investment Grade Preferred Share Fund (P2L) Announces Exchange Ratios for Exchange Option

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/

TORONTO, Dec. 12, 2016 /CNW Telbec/ - Redwood Asset Management Inc. ("Redwood"), on behalf of Canadian Investment Grade Preferred Share Fund (P2L) (the "Fund") is pleased to announce the exchange ratios for the exchange offer by the Fund (the "Exchange Option") being made under the final prospectus of the Fund dated November 28, 2016.

The Fund's investment objectives are to:

(i)         provide holders of units with monthly cash distributions; and

(ii)        maximize the total return to unitholders over time,

by investing in an actively managed portfolio comprised primarily of preferred shares of Canadian issuers.

The Fund intends to provide Unitholders with monthly cash distributions initially targeted to be approximately $0.1146 per Unit per month, corresponding to an annualized yield of 5.50% per annum based on the original subscription price of $25.00 per Unit.

The Units have been assigned a rating of P-2 (low)f by Standard & Poor's, a division of The McGraw-Hill Companies, Inc.

The number of units issuable for each class of security of an Exchange Eligible Issuer (as listed below) (the "Exchange Ratio") has been determined by dividing the weighted average trading price of such security during the period of five consecutive trading days ending on December 12, 2016 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Fund, by $25.00. The Exchange Ratio for any such securities that do not trade in Canadian dollars have been determined by converting the weighted average trading price on the applicable exchange of such securities into Canadian dollars based on the Bank of Canada noon rate of exchange on the last day of the Pricing Period. Holders of securities of Exchange Eligible Issuers who deposited such securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of the offering of units and will be entitled to receive distributions in respect of such securities of Exchange Eligible Issuers that are declared up to but not including such date. Each Exchange Ratio has been rounded down to five decimal places.

The table below sets out the Exchange Eligible Issuers, the securities of which may be accepted by the Fund pursuant to the Exchange Option, including the name of the Exchange Eligible Issuer, its ticker symbol, its CUSIP number, its ISIN, its volume weighted average trading price during the Pricing Period and the Exchange Ratio.

NAME	TICKER SYMBOL	CUSIP	ISIN	VWAP ($)	EXCHANGE RATIO
Aimia Inc	AIM A	00900Q202	CA00900Q2027	12.2425	0.489698
Aimia Inc	AIM C	00900Q400	CA00900Q4007	14.6063	0.584250
Aimia Inc	AIM B	00900Q301	CA00900Q3017	11.1172	0.444687
Algonquin Power & Utilities Corp	AQN A	015857303	CA0158573034	18.7662	0.750648
Algonquin Power & Utilities Corp	AQN D	015857501	CA0158575013	21.2406	0.849623
AltaGas Ltd	ALA U	021361506	CA0213615069	22.1538	0.886150
AltaGas Ltd	ALA E	021361803	CA0213618030	22.4953	0.899810
AltaGas Ltd	ALA B	021361308	CA0213613080	15.8998	0.635993
AltaGas Ltd	ALA A	021361209	CA0213612090	16.8260	0.673040
AltaGas Ltd	ALA G	021361886	CA0213618865	21.6074	0.864295
AltaGas Ltd	ALA I	021361852	CA0213618527	25.3172	1.012689
Artis Real Estate Investment Trust	AX A	04315L303	CA04315L3039	18.6003	0.744012
Artis Real Estate Investment Trust	AX U	04315L501	CA04315L5018	21.3109	0.852436
Artis Real Estate Investment Trust	AX E	04315L709	CA04315L7097	16.2982	0.651927
Artis Real Estate Investment Trust	AX G	04315L881	CA04315L8814	16.8222	0.672888
Atlantic Power Preferred Equity Ltd	AZP A	04878R101	CA04878R1010	14.1672	0.566689
Atlantic Power Preferred Equity Ltd	AZP B	04878R200	CA04878R2000	15.8290	0.633161
Atlantic Power Preferred Equity Ltd	AZP C	04878R309	CA04878R3099	14.4486	0.577942
BCE Inc	BCE R	05534B703	CA05534B7034	16.6830	0.667321
BCE Inc	BCE E	05534B752	CA05534B7521	14.3441	0.573764
BCE Inc	BCE I	05534B711	CA05534B7117	13.6817	0.547269
BCE Inc	BCE B	05534B695	CA05534B6952	14.4236	0.576943
BCE Inc	BCE H	05534B729	CA05534B7299	14.3380	0.573520
BCE Inc	BCE T	05534B810	CA05534B8107	14.4876	0.579502
BCE Inc	BCE F	05534B745	CA05534B7455	14.4065	0.576258
BCE Inc	BCE D	05534B687	CA05534B6879	14.4891	0.579562
BCE Inc	BCE S	05534B869	CA05534B8693	14.4562	0.578246
BCE Inc	BCE Y	05534B851	CA05534B8511	14.4405	0.577619
BCE Inc	BCE A	05534B794	CA05534B7943	14.4057	0.576226
BCE Inc	BCE Z	05534B828	CA05534B8289	14.3990	0.575961
BCE Inc	BCE N	05534B638	CA05534B6382	14.3238	0.572953
BCE Inc	BCE C	05534B786	CA05534B7869	14.9139	0.596555
BCE Inc	BCE G	05534B737	CA05534B7372	13.7446	0.549783
BCE Inc	BCE M	05534B646	CA05534B6465	15.1358	0.605430
BCE Inc	BCE O	05534B620	CA05534B6200	20.9649	0.838594
BCE Inc	BCE Q	05534B596	CA05534B5962	20.3797	0.815189
BCE Inc	BCE K	05534B679	CA05534B6796	14.3907	0.575629
BCE Inc	BCE J	05534B653	CA05534B6531	14.3135	0.572539
Bank of Montreal	BMO K	063671143	CA0636711438	25.4177	1.016706
Bank of Montreal	BMO M	063671788	CA0636717880	23.9575	0.958301
Bank of Montreal	BMO R	063671770	CA0636717708	23.1708	0.926833
Bank of Montreal	BMO A	063679302	CA0636793022	20.1446	0.805782
Bank of Montreal	BMO L	063671796	CA0636717963	25.4069	1.016276
Bank of Montreal	BMO Q	063679203	CA0636792032	20.1579	0.806314
Bank of Montreal	BMO T	063679609	CA0636796090	18.8365	0.753461
Bank of Montreal	BMO Y	06367X200	CA06367X2005	21.1634	0.846535
Bank of Montreal	BMO S	063679401	CA0636794012	19.4412	0.777646
Bank of Montreal	BMO W	063679880	CA0636798807	18.7696	0.750785
Bank of Montreal	BMO Z	06367X408	CA06367X4084	24.6564	0.986257
Bank of Nova Scotia/The	BNS N	064149768	CA0641497684	25.2895	1.011578
Bank of Nova Scotia/The	BNS O	064149750	CA0641497502	25.4716	1.018865
Bank of Nova Scotia/The	BNS P	064149743	CA0641497437	24.6994	0.987974
Bank of Nova Scotia/The	BNS Q	064149727	CA0641497270	24.1896	0.967582
Bank of Nova Scotia/The	BNS R	064149693	CA0641496934	24.5106	0.980423
Bank of Nova Scotia/The	BNS A	064149735	CA0641497353	23.5885	0.943539
Bank of Nova Scotia/The	BNS Y	064149636	CA0641496363	20.7268	0.829072
Bank of Nova Scotia/The	BNS B	064149719	CA0641497197	22.9525	0.918101
Bank of Nova Scotia/The	BNS G	064151202	CA0641512029	26.5354	1.061416
Bank of Nova Scotia/The	BNS H	064151111	CA0641511112	25.7104	1.028414
Bank of Nova Scotia/The	BNS C	064149685	CA0641496850	23.3132	0.932526
Bank of Nova Scotia/The	BNS D	064149628	CA0641496280	19.8862	0.795449
Bank of Nova Scotia/The	BNS E	064149552	CA0641495522	26.5133	1.060531
Bank of Nova Scotia/The	BNS F	064149594	CA0641495944	19.8441	0.793763
Bank of Nova Scotia/The	BNS Z	064149610	CA0641496108	20.4980	0.819918
Bombardier Inc	BBD B	097751507	CA0977515075	8.1898	0.327592
Bombardier Inc	BBD D	097751606	CA0977516065	8.2450	0.329799
Bombardier Inc	BBD C	097751705	CA0977517055	16.0048	0.640192
Brookfield Asset Management Inc	BAM C	112585401	CA1125854010	10.6735	0.426938
Brookfield Asset Management Inc	BAM M	112585831	CA1125858318	20.8629	0.834516
Brookfield Asset Management Inc	BAM N	112585823	CA1125858235	20.9260	0.837040
Brookfield Asset Management Inc	BAM FB	112585625	CA1125856254	18.6852	0.747408
Brookfield Asset Management Inc	BAM FC	112585591	CA1125855918	21.0687	0.842747
Brookfield Asset Management Inc	BAM G	112585609	CA1125856098	14.3118	0.572473
Brookfield Asset Management Inc	BAM D	112585567	CA1125855678	21.4926	0.859702
Brookfield Asset Management Inc	BAM H	112585484	CA1125854846	25.8553	1.034210
Brookfield Asset Management Inc	BAM S	112585732	CA1125857328	15.7539	0.630154
Brookfield Asset Management Inc	BAM K	112585872	CA1125858722	10.6594	0.426375
Brookfield Asset Management Inc	BAM R	112585740	CA1125857401	16.6227	0.664906
Brookfield Asset Management Inc	BAM B	112585203	CA1125852030	10.7573	0.430290
Brookfield Asset Management Inc	BAM T	112585724	CA1125857245	16.7257	0.669029
Brookfield Asset Management Inc	BAM X	112585690	CA1125856908	14.6067	0.584267
Brookfield Asset Management Inc	BAM F	112585534	CA1125855348	21.1395	0.845578
Brookfield Asset Management Inc	BAM FE	112585559	CA1125855595	19.8559	0.794236
Brookfield Asset Management Inc	BAM FG	112585518	CA1125855181	21.3986	0.855944
Brookfield Asset Management Inc	BAM Z	112585666	CA1125856668	20.0014	0.800055
Brookfield Asset Management Inc	BAM E	112585500	CA1125855009	15.3029	0.612117
Brookfield Asset Management Inc	BAM A	112585641	CA1125856411	20.1807	0.807229
Brookfield Investments Corp	BRN A	112741202	CA1127412023	25.0110	1.000441
Brookfield Office Properties Inc	BPO C	112900667	CA1129006674	25.9326	1.037305
Brookfield Office Properties Inc	BPO S	112900774	CA1129007748	18.0915	0.723661
Brookfield Office Properties Inc	BPO W	112900733	CA1129007334	9.5043	0.380171
Brookfield Office Properties Inc	BPO X	112900741	CA1129007417	9.3438	0.373750
Brookfield Office Properties Inc	BPO Y	112900717	CA1129007177	9.5022	0.380086
Brookfield Office Properties Inc	BPO U	112900709	CA1129007094	25.0340	1.001358
Brookfield Office Properties Inc	BPO J	112900873	CA1129008738	25.0391	1.001564
Brookfield Office Properties Inc	BPO K	112900865	CA1129008654	25.0055	1.000220
Brookfield Office Properties Inc	BPO N	112900832	CA1129008324	17.5187	0.700749
Brookfield Office Properties Inc	BPO P	112900816	CA1129008167	17.6746	0.706984
Brookfield Office Properties Inc	BPO R	112900782	CA1129007821	19.3385	0.773541
Brookfield Office Properties Inc	BPO T	112900766	CA1129007664	19.0503	0.762012
Brookfield Office Properties Inc	BPO A	112900683	CA1129006831	19.6147	0.784589
Brookfield Property Split Corp	BPS U	112827209	CA1128272095	0.0000	0.000000
Brookfield Property Split Corp	BPS C	112827506	CA1128275064	24.8350	0.993400
Brookfield Property Split Corp	BPS A	112827308	CA1128273085	24.8648	0.994591
Brookfield Property Split Corp	BPS B	112827407	CA1128274075	24.7875	0.991500
Brookfield Renewable Power Preferred Equity Inc	BRF C	11283Q404	CA11283Q4043	18.6585	0.746340
Brookfield Renewable Power Preferred Equity Inc	BRF E	11283Q602	CA11283Q6022	19.4586	0.778342
Brookfield Renewable Power Preferred Equity Inc	BRF F	11283Q701	CA11283Q7012	19.3752	0.775008
Brookfield Renewable Power Preferred Equity Inc	BRF A	11283Q206	CA11283Q2062	16.6833	0.667331
Brookfield Renewable Power Preferred Equity Inc	BRF B	11283Q305	CA11283Q3052	15.7899	0.631594
CU Inc	CIU A	22944C205	CA22944C2058	21.4612	0.858446
CU Inc	CIU C	22944C502	CA22944C5028	12.8670	0.514678
Canaccord Genuity Group Inc	CF A	134801307	CA1348013071	12.8167	0.512669
Canaccord Genuity Group Inc	CF C	134801604	CA1348016041	15.1726	0.606904
Canadian General Investments Ltd	CGI D	135825404	CA1358254045	25.1063	1.004250
Canadian Imperial Bank of Commerce/Canada	CM O	136069440	CA1360694402	19.3158	0.772630
Canadian Imperial Bank of Commerce/Canada	CM Q	136069390	CA1360693909	20.9718	0.838870
Canadian Imperial Bank of Commerce/Canada	CM P	136069424	CA1360694246	18.8257	0.753029
Canadian Utilities Ltd	CU C	136717691	CA1367176916	19.3631	0.774523
Canadian Utilities Ltd	CU D	136717675	CA1367176759	22.7725	0.910901
Canadian Utilities Ltd	CU E	136717667	CA1367176676	22.8065	0.912258
Canadian Utilities Ltd	CU F	136717659	CA1367176593	20.7036	0.828144
Canadian Utilities Ltd	CU G	136717642	CA1367176429	20.6315	0.825260
Canadian Utilities Ltd	CU H	136717634	CA1367176346	24.5068	0.980270
Canadian Utilities Ltd	CU I	136717626	CA1367176262	26.1370	1.045481
Canadian Western Bank	CWB B	136765500	CA1367655000	19.1551	0.766205
Canadian Western Bank	CWB C	136765708	CA1367657089	26.6445	1.065780
Capital Power Corp	CPX C	14042M508	CA14042M5081	17.2409	0.689637
Capital Power Corp	CPX E	14042M706	CA14042M7061	16.5963	0.663850
Capital Power Corp	CPX G	14042M888	CA14042M8887	24.7299	0.989196
Capital Power Corp	CPX A	14042M300	CA14042M3003	13.2672	0.530686
Co-Operators General Insurance Co	CCS C	189906407	CA1899064077	23.0267	0.921069
Element Fleet Management Corp	EFN A	286181870	CA2861818706	23.5966	0.943862
Element Fleet Management Corp	EFN C	286181839	CA2861818391	24.5512	0.982049
Element Fleet Management Corp	EFN E	286181813	CA2861818136	23.9322	0.957287
Element Fleet Management Corp	EFN G	286181789	CA2861817898	24.7642	0.990566
Emera Inc	EMA C	290876507	CA2908765076	19.8807	0.795226
Emera Inc	EMA A	290876309	CA2908763097	13.9279	0.557114
Emera Inc	EMA E	290876705	CA2908767056	20.9722	0.838886
Emera Inc	EMA B	290876408	CA2908764087	13.3442	0.533766
Emera Inc	EMA F	290876804	CA2908768047	19.9183	0.796731
Enbridge Inc	ENB A	29250N204	CA29250N2041	24.9287	0.997146
Enbridge Inc	ENB U	29250N824	CA29250N8246	20.1951	0.807804
Enbridge Inc	ENB FU	29250N790	CA29250N7909	20.2590	0.810360
Enbridge Inc	ENB N	29250N774	CA29250N7743	17.0448	0.681792
Enbridge Inc	ENB P	29250N758	CA29250N7586	16.4590	0.658361
Enbridge Inc	ENB T	29250N733	CA29250N7339	16.4783	0.659131
Enbridge Inc	ENB V	29250N717	CA29250N7172	20.2420	0.809680
Enbridge Inc	ENB Y	29250N683	CA29250N6836	16.2448	0.649793
Enbridge Inc	ENB FV	29250N667	CA29250N6679	19.8966	0.795862
Enbridge Inc	ENB J	29250N642	CA29250N6422	17.2431	0.689722
Enbridge Inc	ENB E	29250N576	CA29250N5762	17.8451	0.713802
Enbridge Inc	ENB FA	29250N626	CA29250N6265	17.6855	0.707419
Enbridge Inc	ENB C	29250N592	CA29250N5929	17.8232	0.712929
Enbridge Inc	ENB G	29250N550	CA29250N5507	17.9482	0.717928
Enbridge Inc	ENB D	29250N881	CA29250N8816	15.9229	0.636914
Enbridge Inc	ENB H	29250N840	CA29250N8402	15.0154	0.600614
Enbridge Inc	ENB B	29250N709	CA29250N7099	16.0032	0.640126
Enbridge Inc	ENB F	29250N865	CA29250N8659	16.4253	0.657010
Fairfax Financial Holdings Ltd	FFH E	303901888	CA3039018880	14.1782	0.567126
Fairfax Financial Holdings Ltd	FFH H	303901854	CA3039018542	15.1739	0.606956
Fairfax Financial Holdings Ltd	FFH J	303901839	CA3039018393	16.5579	0.662315
Fairfax Financial Holdings Ltd	FFH C	303901508	CA3039015084	19.5163	0.780653
Fairfax Financial Holdings Ltd	FFH M	303901797	CA3039017973	22.2642	0.890569
Fairfax Financial Holdings Ltd	FFH D	303901607	CA3039016074	17.8659	0.714634
Fairfax Financial Holdings Ltd	FFH F	303901870	CA3039018708	13.5249	0.540997
Fairfax Financial Holdings Ltd	FFH G	303901862	CA3039018625	16.0533	0.642133
Fairfax Financial Holdings Ltd	FFH K	303901821	CA3039018211	20.5838	0.823353
Fairfax Financial Holdings Ltd	FFH I	303901847	CA3039018476	17.7926	0.711705
Fortis Inc/Canada	FTS G	349553834	CA3495538348	17.6655	0.706621
Fortis Inc/Canada	FTS F	349553867	CA3495538678	22.7226	0.908903
Fortis Inc/Canada	FTS J	349553792	CA3495537928	22.0822	0.883289
Fortis Inc/Canada	FTS K	349553784	CA3495537845	17.2666	0.690662
Fortis Inc/Canada	FTS H	349553826	CA3495538264	13.3618	0.534473
Fortis Inc/Canada	FTS M	349553768	CA3495537688	19.0890	0.763559
Fortis Inc/Canada	FTS I	349553818	CA3495538181	12.1799	0.487197
GMP Capital Inc	GMP C	380134304	CA3801343045	12.5961	0.503844
GMP Capital Inc	GMP B	380134205	CA3801342054	12.2784	0.491134
George Weston Ltd	WN C	961148863	CA9611488631	24.1170	0.964681
George Weston Ltd	WN D	961148855	CA9611488557	24.1600	0.966400
George Weston Ltd	WN E	961148848	CA9611488482	22.0945	0.883779
George Weston Ltd	WN A	961148889	CA9611488896	25.3364	1.013455
Great-West Lifeco Inc	GWO Q	39138C767	CA39138C7677	23.4715	0.938859
Great-West Lifeco Inc	GWO R	39138C759	CA39138C7594	21.9736	0.878942
Great-West Lifeco Inc	GWO M	39138C817	CA39138C8170	25.4816	1.019262
Great-West Lifeco Inc	GWO I	39138C866	CA39138C8667	20.9673	0.838691
Great-West Lifeco Inc	GWO H	39138C874	CA39138C8741	22.2682	0.890726
Great-West Lifeco Inc	GWO F	39138C809	CA39138C8097	25.4722	1.018886
Great-West Lifeco Inc	GWO L	39138C825	CA39138C8253	25.2397	1.009586
Great-West Lifeco Inc	GWO G	39138C882	CA39138C8824	23.7903	0.951610
Great-West Lifeco Inc	GWO N	39138C791	CA39138C7917	13.7766	0.551065
Great-West Lifeco Inc	GWO P	39138C775	CA39138C7750	24.4779	0.979114
Great-West Lifeco Inc	GWO S	39138C734	CA39138C7347	24.0452	0.961806
Great-West Lifeco Inc	GWO O	39138C783	CA39138C7834	13.3839	0.535356
HSBC Bank Canada/Toronto	HSB C	40427H509	CA40427H5096	24.8293	0.993172
HSBC Bank Canada/Toronto	HSB D	40427H707	CA40427H7076	24.8867	0.995466
Husky Energy Inc	HSE C	448055400	CA4480554001	20.4359	0.817437
Husky Energy Inc	HSE E	448055608	CA4480556089	21.6146	0.864583
Husky Energy Inc	HSE G	448055806	CA4480558069	21.6370	0.865481
Husky Energy Inc	HSE B	448055301	CA4480553011	11.8515	0.474059
Husky Energy Inc	HSE A	448055202	CA4480552021	12.4481	0.497922
IGM Financial Inc	IGM B	449586304	CA4495863041	25.2777	1.011106
Industrial Alliance Insurance & Financial Services Inc	IAG G	455871806	CA4558718066	20.1247	0.804989
Industrial Alliance Insurance & Financial Services Inc	IAG A	455871301	CA4558713018	21.6398	0.865591
Innergex Renewable Energy Inc	INE C	45790B708	CA45790B7088	20.8135	0.832540
Innergex Renewable Energy Inc	INE A	45790B500	CA45790B5009	15.1911	0.607642
Intact Financial Corp	IFC D	45823T502	CA45823T5026	19.4207	0.776827
Intact Financial Corp	IFC A	45823T304	CA45823T3047	16.1621	0.646482
Intact Financial Corp	IFC C	45823T601	CA45823T6016	19.7643	0.790571
Laurentian Bank of Canada	LB F	51925D841	CA51925D8411	24.3554	0.974217
Laurentian Bank of Canada	LB J	51925D791	CA51925D7918	25.9494	1.037976
Laurentian Bank of Canada	LB H	51925D825	CA51925D8254	19.7245	0.788981
Loblaw Cos Ltd	L B	539481705	CA5394817053	24.9215	0.996861
Manulife Financial Corp	MFC I	56501R783	CA56501R7830	20.4304	0.817216
Manulife Financial Corp	MFC J	56501R767	CA56501R7673	19.6339	0.785357
Manulife Financial Corp	MFC K	56501R742	CA56501R7426	17.9685	0.718741
Manulife Financial Corp	MFC O	56501R650	CA56501R6501	26.3251	1.053002
Manulife Financial Corp	MFC B	56501R403	CA56501R4035	21.7575	0.870300
Manulife Financial Corp	MFC C	56501R502	CA56501R5024	21.0007	0.840028
Manulife Financial Corp	MFC L	56501R726	CA56501R7269	18.1891	0.727565
Manulife Financial Corp	MFC M	56501R692	CA56501R6923	18.8019	0.752075
Manulife Financial Corp	MFC N	56501R676	CA56501R6766	18.7561	0.750242
Manulife Financial Corp	MFC P	56501R841	CA56501R8416	13.6069	0.544274
Manulife Financial Corp	MFC F	56501R858	CA56501R8580	13.6679	0.546716
Manulife Financial Corp	MFC G	56501R833	CA56501R8333	20.3960	0.815840
Manulife Financial Corp	MFC H	56501R817	CA56501R8176	21.8090	0.872361
National Bank of Canada	NA Q	633067335	CA6330673352	24.1535	0.966141
National Bank of Canada	NA X	633067269	CA6330672693	26.4083	1.056331
National Bank of Canada	NA A	633067244	CA6330672446	26.1485	1.045940
National Bank of Canada	NA S	633067319	CA6330673196	19.0397	0.761589
National Bank of Canada	NA W	633067285	CA6330672859	18.6471	0.745882
Northland Power Inc	NPI C	666511605	CA6665116050	20.6517	0.826069
Northland Power Inc	NPI B	666511506	CA6665115060	16.0291	0.641164
Northland Power Inc	NPI A	666511308	CA6665113081	16.7730	0.670919
Partners Value Split Corp	PVS B	70214J301	CA70214J3010	24.9954	0.999817
Partners Value Split Corp	PVS D	70214J608	CA70214J6088	24.9254	0.997017
Partners Value Split Corp	PVS E	70214J707	CA70214J7078	25.8080	1.032319
Partners Value Split Corp	PVS C	70214J509	CA70214J5098	25.0951	1.003803
Pembina Pipeline Corp	PPL M	706327855	CA7063278559	25.8303	1.033212
Pembina Pipeline Corp	PPL A	706327202	CA7063272024	17.6879	0.707515
Pembina Pipeline Corp	PPL C	706327400	CA7063274004	18.6322	0.745289
Pembina Pipeline Corp	PPL E	706327111	CA7063271117	20.6386	0.825545
Pembina Pipeline Corp	PPL G	706327608	CA7063276082	19.5384	0.781534
Pembina Pipeline Corp	PPL I	706327806	CA7063278062	23.3094	0.932377
Pembina Pipeline Corp	PPL K	706327871	CA7063278716	25.8474	1.033896
Power Corp of Canada	POW A	739239887	CA7392398870	25.1632	1.006527
Power Corp of Canada	POW E	739239408	CA7392394085	29.6650	1.186600
Power Corp of Canada	POW D	739239861	CA7392398615	23.1998	0.927991
Power Corp of Canada	POW B	739239804	CA7392398045	24.3985	0.975940
Power Corp of Canada	POW C	739239879	CA7392398797	25.4244	1.016977
Power Corp of Canada	POW F	739239705	CA7392397054	33.7336	1.349344
Power Corp of Canada	POW G	739239853	CA7392398532	25.1638	1.006552
Power Financial Corp	PWF L	73927C829	CA73927C8299	23.5370	0.941479
Power Financial Corp	PWF S	73927C746	CA73927C7465	21.9328	0.877311
Power Financial Corp	PWF E	73927C803	CA73927C8034	24.6988	0.987953
Power Financial Corp	PWF F	73927C886	CA73927C8869	23.9248	0.956992
Power Financial Corp	PWF G	73927C878	CA73927C8786	25.4198	1.016790
Power Financial Corp	PWF H	73927C860	CA73927C8604	25.1968	1.007870
Power Financial Corp	PWF T	73927C738	CA73927C7382	19.7091	0.788364
Power Financial Corp	PWF K	73927C837	CA73927C8372	22.8784	0.915134
Power Financial Corp	PWF I	73927C845	CA73927C8455	25.6434	1.025734
Power Financial Corp	PWF O	73927C787	CA73927C7879	25.5011	1.020042
Power Financial Corp	PWF P	73927C779	CA73927C7796	13.6055	0.544221
Power Financial Corp	PWF A	73927C209	CA73927C2094	11.9716	0.478862
Power Financial Corp	PWF Q	73927C761	CA73927C7614	13.5292	0.541166
Power Financial Corp	PWF R	73927C753	CA73927C7531	24.8367	0.993467
RioCan Real Estate Investment Trust	REI C	766910129	CA7669101296	24.5961	0.983843
Royal Bank of Canada	RY B	780085247	CA7800852476	25.1349	1.005395
Royal Bank of Canada	RY C	780102604	CA7801026047	25.0643	1.002571
Royal Bank of Canada	RY D	780102844	CA7801028449	25.0063	1.000250
Royal Bank of Canada	RY F	780102653	CA7801026534	25.0054	1.000216
Royal Bank of Canada	RY I	78010A416	CA78010A4164	24.3460	0.973840
Royal Bank of Canada	RY S	78013G402	CA78013G4025	24.9939	0.999756
Royal Bank of Canada	RY T	78013G501	CA78013G5014	26.9220	1.076880
Royal Bank of Canada	RY R	78013N274	CA78013N2749	26.6010	1.064038
Royal Bank of Canada	RY A	780085445	CA7800854456	25.0094	1.000374
Royal Bank of Canada	RY W	780085502	CA7800855024	24.6913	0.987650
Royal Bank of Canada	RY G	780102554	CA7801025544	25.0050	1.000198
Royal Bank of Canada	RY E	780102760	CA7801027607	25.0238	1.000953
Royal Bank of Canada	RY L	78010A333	CA78010A3331	25.3235	1.012938
Royal Bank of Canada	RY K	78010A390	CA78010A3901	23.1607	0.926428
Royal Bank of Canada	RY H	78012H567	CA78012H5675	18.9491	0.757962
Royal Bank of Canada	RY J	78012Q112	CA78012Q1129	20.5372	0.821488
Royal Bank of Canada	RY M	78012T470	CA78012T4708	20.3116	0.812465
Royal Bank of Canada	RY N	78013J455	CA78013J4550	24.3326	0.973303
Royal Bank of Canada	RY O	78013K601	CA78013K6016	24.2956	0.971823
Royal Bank of Canada	RY Z	78012G411	CA78012G4117	19.0216	0.760865
Royal Bank of Canada	RY P	78013K288	CA78013K2882	25.0206	1.000823
Royal Bank of Canada	RY Q	78013L211	CA78013L2113	26.4941	1.059765
Shaw Communications Inc	SJR B	82028K887	CA82028K8876	13.8845	0.555378
Shaw Communications Inc	SJR A	82028K879	CA82028K8793	14.1543	0.566171
Sun Life Financial Inc	SLF D	866796501	CA8667965013	20.7916	0.831662
Sun Life Financial Inc	SLF B	866796303	CA8667963034	22.2988	0.891951
Sun Life Financial Inc	SLF C	866796402	CA8667964024	20.8344	0.833374
Sun Life Financial Inc	SLF A	866796204	CA8667962044	22.2805	0.891218
Sun Life Financial Inc	SLF G	866796881	CA8667968819	14.5247	0.580988
Sun Life Financial Inc	SLF E	866796600	CA8667966003	20.9214	0.836856
Sun Life Financial Inc	SLF J	866796873	CA8667968736	13.8019	0.552076
Sun Life Financial Inc	SLF I	866796832	CA8667968322	19.9303	0.797211
Sun Life Financial Inc	SLF H	866796865	CA8667968652	16.9989	0.679956
Thomson Reuters Corp	TRI B	884903303	CA8849033037	12.0214	0.480857
Toronto-Dominion Bank/The	TD S	891145609	CA8911456090	24.0113	0.960450
Toronto-Dominion Bank/The	TD Y	891145708	CA8911457080	24.3071	0.972282
Toronto-Dominion Bank/The	TD T	891145724	CA8911457247	23.2142	0.928566
Toronto-Dominion Bank/The	TD Z	891145716	CA8911457163	23.1004	0.924016
Toronto-Dominion Bank/The	TD G	891145575	CA8911455753	26.5669	1.062676
Toronto-Dominion Bank/The	TD H	891160665	CA8911606652	25.5921	1.023682
Toronto-Dominion Bank/The	TD C	891145658	CA8911456587	18.8113	0.752453
Toronto-Dominion Bank/The	TD F	891145583	CA8911455837	24.7550	0.990201
Toronto-Dominion Bank/The	TD A	891145690	CA8911456900	19.0359	0.761436
Toronto-Dominion Bank/The	TD B	891145674	CA8911456744	18.7886	0.751545
Toronto-Dominion Bank/The	TD D	891145633	CA8911456330	20.9511	0.838044
Toronto-Dominion Bank/The	TD E	891145617	CA8911456173	21.5571	0.862283
TransAlta Corp	TA H	89346D727	CA89346D7273	16.3788	0.655151
TransAlta Corp	TA E	89346D750	CA89346D7505	11.7196	0.468784
TransAlta Corp	TA D	89346D768	CA89346D7687	11.7517	0.470069
TransAlta Corp	TA J	89346D677	CA89346D6770	17.6353	0.705410
TransAlta Corp	TA F	89346D735	CA89346D7356	15.1807	0.607228
TransCanada Corp	TRP D	89353D883	CA89353D8834	18.0892	0.723568
TransCanada Corp	TRP A	89353D404	CA89353D4049	15.5512	0.622049
TransCanada Corp	TRP B	89353D503	CA89353D5038	12.1946	0.487782
TransCanada Corp	TRP I	89353D800	CA89353D8008	12.5025	0.500100
TransCanada Corp	TRP C	89353D701	CA89353D7018	12.9675	0.518698
TransCanada Corp	TRP G	89353D842	CA89353D8420	20.5719	0.822876
TransCanada Corp	TRP H	89353D602	CA89353D6028	11.3751	0.455005
TransCanada Corp	TRP E	89353D867	CA89353D8677	18.6256	0.745023
TransCanada Corp	TRP J	89353D826	CA89353D8263	26.0659	1.042637
TransCanada Corp	TRP F	89353D305	CA89353D3058	14.8806	0.595223
Union Gas Ltd	UNG C	906667209	CA9066672093	54.0000	2.160000
Union Gas Ltd	UNG D	906667308	CA9066673083	56.2500	2.250000
Valener Inc	VNR A	91912H207	CA91912H2072	19.0954	0.763815
Veresen Inc	VSN C	92340R502	CA92340R5024	19.0566	0.762264
Veresen Inc	VSN E	92340R700	CA92340R7004	22.6894	0.907576
Veresen Inc	VSN A	92340R304	CA92340R3045	16.0225	0.640900
Westcoast Energy Inc	W H	95751D888	CA95751D8888	24.9502	0.998007
Westcoast Energy Inc	W J	95751D862	CA95751D8623	25.2293	1.009170
Westcoast Energy Inc	W K	95751D847	CA95751D8474	25.5711	1.022842
Westcoast Energy Inc	W M	95751D128	CA95751D1289	25.7402	1.029608
ISHARES S&P/TSX NORTH AMERIC	XPF CN Equity	46431J100	CA46431J1003	17.2198	0.688792
POWERSHARES CANADIAN PRE ETF	PPS CN Equity	73937J103	CA73937J1030	14.4130	0.576518
ISHARES S&P/TSX CANADIAN PRE	CPD CN Equity	46431G205	CA46431G2053	12.8111	0.512442

The Fund is being offered on a best efforts agency basis through a syndicate of investment dealers led by National Bank Financial Inc. and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., GMP Securities L.P., Canaccord Genuity Corp., Raymond James Ltd., Desjardins Securities Inc., Industrial Alliance Securities Inc., Manulife Securities Incorporated, Echelon Wealth Partners Inc., Mackie Research Capital Corporation and PI Financial Corp.

A final prospectus containing important information relating to these securities has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. Copies of the final prospectus may be obtained from one of the agents noted above.  Investors should read the final prospectus before making an investment decision.

SOURCE Canadian Investment Grade Preferred Share Fund (P2L)

Dan Rubin, Vice President, Marketing, at 416-583-3853