TORONTO, April 8, 2016 /CNW/ - Ridgewood Capital Asset Management Inc. ("Ridgewood") announces that it acquired control over 452,778 trust units of Ridgewood Canadian Investment Grade Bond Fund (the "Fund") (TSX: RIB.UN) pursuant to a series of transactions effected between December 30, 2015 and March 31, 2016 (the "Transactions"), in its capacity as portfolio manager to certain managed accounts. The Units over which control was acquired pursuant to the Transactions represented approximately 7.6% of the Units then outstanding. Immediately following the Transactions, Ridgewood controlled on behalf of its managed accounts 1,306,576 Units of the Fund, which represented approximately 21.9% of the Units then outstanding.

Pursuant to the Transactions, Ridgewood caused the managed accounts to acquire Units for investment purposes. Depending on market conditions and other factors, Ridgewood expects that it may from time to time acquire additional Units for its managed accounts or dispose of Units held by its managed accounts, in each case for investment purposes only.

Certain of the Transactions were effected on the Toronto Stock Exchange at prevailing market prices and certain of the Transactions were effected privately at prices per Unit equal to the net asset value per Unit as at the applicable time.

A copy of the Early Warning Report filed by Ridgewood in connection with the Transactions is available on SEDAR on the Fund's SEDAR profile.  This news release is being issued under the early warning provisions of Canadian securities legislation.

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 $750 million is invested in fixed income assets.

SOURCE Ridgewood Capital Asset Management Inc.