2028 Investment Grade Bond Trust Files Preliminary Prospectus

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

TORONTO, Nov. 2, 2023 /CNW/ - Next Edge Capital Corp. ("Next Edge" or the "Manager") announced that a preliminary prospectus for 2028 Investment Grade Bond Trust (the "Fund") was filed and receipted by the securities regulatory authorities of all the Canadian provinces and territories for an initial public offering of Class A Units and Class F Units (together with the Class A Units, the "Units") at a price of $10.00 per Class A Unit and $10.00 per Class F Unit.

The Fund has been created to acquire a portfolio comprised primarily of debt securities of Canadian companies. The Manager has retained Ridgewood Capital Asset Management Inc. to provide portfolio management services to the Fund.

The Fund's investment objectives are to (i) preserve capital; and (ii) target an internal rate of return of 6.25-6.75% (after annual fees and expenses) by investing primarily in corporate debt securities. At least 75% of the portfolio will be invested in investment grade securities and up to 25% of the portfolio may be invested in high yield debt securities. The portfolio is expected to be comprised primarily of eligible debt securities that have an average maturity of five (5) years or less and it is expected that the securities generally will be held by the Fund until their respective maturities. Notwithstanding the foregoing, the Fund may sell or transfer eligible debt securities prior to their maturity.

The Fund will not have a fixed quarterly distribution amount but intends to make cash distributions quarterly. The Fund's quarterly distributions are initially targeted to be approximately $0.125 per Unit per quarter for the Fund's first four quarters of operation or $0.50 for the Fund's first year of operation (approximately 5.0% on the subscription price of $10.00 per Unit).¹

The Class F Units are designed for fee-based and/or institutional accounts and the Class A Units are available to all investors but will not be listed on a stock exchange. The Class A Units offered under the prospectus will be reclassified as Class F Units immediately following the closing of the offering based on their respective NAV per Unit.

The syndicate of agents is being led by National Bank Financial Inc. and includes Scotiabank, CIBC Capital Markets, RBC Capital Markets, BMO Capital Markets, Canaccord Genuity Corp., Wellington-Altus Private Wealth Inc., iA Private Wealth Inc., Raymond James Ltd., Richardson Wealth Limited, Desjardins Securities Inc., Echelon Wealth Partners Inc., Manulife Securities Inc., and Research Capital Corporation.

About Next Edge

Next Edge is an investment fund manager and a leader in the structuring and distribution of alternative, private credit and value-added fund products in Canada. The firm is led by an experienced management team that has launched numerous investment solutions in a variety of product structures and has been responsible for raising over $3 billion of alternative assets since 2000.² Next Edge specializes and focuses on providing unique, non-correlated pooled investment vehicles to the Canadian marketplace.

¹ The targeted quarterly distribution rate is not a projection or prediction of future results of the Fund. There can be no assurance that the Fund will achieve the target distribution rate or any particular level of return. Actual results may vary significantly from the target distribution rate.

² Please note that over CAD $2 billion of the CAD $3 billion of alternative assets raised relates to assets that were raised at a previous firm(s).

A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any one of the agents noted above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

There are ongoing fees and expenses associated with owning securities of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

The Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States or in reliance on an exemption from such registration requirements. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Fund's securities referred to herein in the United States.

SOURCE Next Edge Capital Corp.

Further information can be found at www.nextedgecapital.com or contact Next Edge at [phone] or via email at [email protected]; Next Edge Capital Corp., 1 Toronto Street, Suite 200, Toronto, Ontario M5C 2V6.