2028 Investment Grade Bond Trust Launches At-The-Market Equity Program

/Not for distribution to United States newswire services or for dissemination in the United States./

TORONTO, May 17, 2024 /CNW/ - Next Edge Capital Corp. ("Next Edge" or the "Manager") announces that 2028 Investment Grade Bond Trust (TSX: IGBT.UN) (the "Fund") is launching an at-the-market equity program (the "ATM Program"). The ATM Program allows the Fund to issue Class F units of the Fund ("Units") having an aggregate market price of up to $75,000,000, to the public from time to time, at the discretion of the Manager. Any Units issued under the ATM Program will be sold at the prevailing market price at the time of sale through the Toronto Stock Exchange ("TSX") or any other marketplace in Canada on which the Units are listed, quoted or otherwise traded.

The volume and timing of distributions under the ATM Program, if any, will be determined at the Manager's sole discretion. The ATM Program will be effective until June 7, 2026, unless terminated prior to such date by the Fund. The Fund intends to use the proceeds from the ATM Program in accordance with the Fund's investment objectives, investment strategies and investment restrictions.

Sales of the Units through the ATM Program will be made pursuant to the terms of an equity distribution agreement entered into by the Fund, the Manager and Ridgewood Capital Asset Management Inc., as adviser of the Fund (the "Equity Distribution Agreement"), dated May 17, 2024 with National Bank Financial Inc. (the "Agent").

Sales of the Units will be made by way of "at-the-market distributions" as defined in National Instrument 44-102 Shelf Distributions on the TSX or on any marketplace for the Units in Canada. Since the Units will be distributed at prevailing market prices at the time of the sale, prices may vary among purchasers during the period of distribution. The ATM Program is being offered pursuant to a prospectus supplement dated May 17, 2024 to the Fund's short form base shelf prospectus dated May 6, 2024. Copies of the Fund's prospectus supplement and short form base shelf prospectus and the applicable Equity Distribution Agreement may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the Agent, and are available on SEDAR+ at www.sedarplus.ca.

About Next Edge Capital Corp.

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 2000.¹ Next Edge specializes and focuses on providing unique, non-correlated pooled investment vehicles to the Canadian marketplace.

¹ 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).

Forward-Looking Statements

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect the Fund's and/or the Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, market factors. Although the Fund and/or the Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund and/or the Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other factors which affect this information, except as required by law.

The short form base shelf prospectus and the prospectus supplement containing important detailed information about the securities being offered have been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. Copies of the Equity Distribution Agreement, the short form base shelf prospectus and the prospectus supplement may be obtained from the Agent. Investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision.

This communication is intended for informational purposes only. You will usually pay brokerage fees to your dealer if you purchase or sell Units of the Fund on the TSX. If the Units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying Units of the Fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning Units of the 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.

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.