Ridgewood Canadian Investment Grade Bond Fund Announces Approval of Fund Extension

TORONTO, Sept. 24, 2019 /CNW/ - Ridgewood Capital Asset Management Inc., the manager of Ridgewood Canadian Investment Grade Bond Fund (TSX: RIB.UN) (the "Fund"), is pleased to announce that holders of the Fund's units ("Unitholders") have approved, at a special meeting held September 24, 2019 (the "Meeting"), a proposal to amend the Fund's declaration of trust to extend the term of the Fund indefinitely (the "Extension").

The Extension was approved by 97.62% of the Unitholders represented in person or by proxy at the Meeting. Unitholders holding 11,571,446 units of the Fund (representing approximately 80.27% of the issued and outstanding units of the Fund) were represented at the Meeting in person or by proxy.

Additional information concerning the Extension is available in the Fund's management information circular dated September 3, 2019.

About Ridgewood Capital Asset Management Inc.:

Ridgewood is an independent investment manager that manages approximately $1.2 billion in assets for a diversified client base of high net worth individuals, foundations/endowments, First Nation mandates and institutional accounts, of which approximately $990 million is invested in fixed income assets.

Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

SOURCE Ridgewood Capital Asset Management Inc.

please call John H. Simpson, CFA, Managing Director, Ridgewood Capital Asset Management Inc. at [phone].