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Exchange Bulletin

Canadian Investment Grade Preferred Share Fund (P2L) (RIGP.UN) To Trade On Toronto Stock Exchange


December 15, 2016

Issuer: Canadian Investment Grade Preferred Share Fund (P2L) (the "Fund")

SecuritySymbolCUSIPIssued and Outstanding SecuritiesReserved SecuritiesIssue Price
Class T units
(the "Units")
RIGP.UN 136188 11 7 4,000,000 624,000 $25.00
Listing category: Non-Corporate
Trading currency: CDN$
Transaction: Initial public offering of Units (the "Offering")
Listing date: December 16, 2016 (as at 5:01 pm) in anticipation of closing of the Offering.
Anticipated closing date: December 19, 2016
Posted for trading date: December 19, 2016 (at the opening) subject to confirmation of closing of the Offering.
Other market(s): None
Designated market maker: National Bank Financial Inc.
Security ownership registration: CDS book-entry system
Investor relations: Dan Rubin
(416) 583-3853
danr@purposeinvest.com

 - OR –

Scott Bartholomew
Chief Financial Officer
(416) 583-3857
scottb@purposeinvest.com 
Incorporation: An investment fund established as a trust under the laws of the Province of Ontario pursuant to a declaration of trust dated as of November 28, 2016.
Manager and Trustee: Redwood Asset Management Inc. (the "Manager")
Fiscal year end: December 31
Nature of business: The Fund's investment objectives are to (i) maximize total return to Unitholders over time; and (ii) provide holders of Units with monthly cash distributions by investing in an actively managed portfolio comprised primarily of preferred shares of Canadian issuers.
Transfer agent and registrar: TSX Trust Company at its principal office in Toronto.
Conversion of Class A Units into Class T Units: A holder of Class A Units may convert Class A Units into Class T Units on a weekly basis in accordance with the Declaration of Trust and it is expected that liquidity for the Class A Units will be primarily obtained by means of conversion into Class T Units and the sale of those Class T Units. Class A Units may be converted in any week on the first Business Day of such week by delivering a notice and surrendering such Class A Units by 3:00 p.m. (Toronto time) at least five Business Days prior to the relevant Conversion Date. Class A Units will be automatically converted into Class T Units on the 32-month anniversary of the Closing Date, with no Early Exchange Fee. Class A Units will be automatically converted into Class T Units following any early termination of the UTF Services Agreement.
Distributions The Fund intends to provide Unitholders with monthly cash distributions. The initial target distribution amount for the period ending December, 2017 is approximately $0.1146 per Unit per month (corresponding to an annualized distribution of $1.375 per Unit per annum and representing an annualized yield of 5.50% per annum based on the original subscription price).
Sponsorship: Not applicable
Disclosure document: Prospectus dated November 28, 2016 which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Disclosure document.
Initial public offering: Pursuant to the terms of the Prospectus, a maximum of 4,000,000 Class T Units and/or Class A Units (unlisted) at a price of $25.00 per Unit, are being offered to the public.
TSX contact: Julie Shin,
Director, Listed Issuer Services,
Toronto Stock Exchange.