May 14, 2021
To: Unitholders in the Bridging Funds

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TORONTO, February 8, 2021

Looking back at what was a challenging year across the globe, Bridging Finance Inc. (“Bridging”) was able to navigate these hurdles and the Funds celebrated a few key milestones and were recognized for their industry leading risk adjusted returns. The Funds also delivered strongly on their objective of providing clients with consistent and uncorrelated returns even against an economic back drop which saw historically high levels of volatility.

A brief recap of some of Bridging’s 2020 accomplishments:

• • Bridging Indigenous Impact Fund was awarded 2^nd place for the Best 1 Year Return in the Private Debt category at the 2020 Canadian Hedge Fund Awards
  • Bridging Private Debt Institutional Fund was awarded 3^rd place for the Best 3 Year Return in the Private Debt category at the 2020 Canadian Hedge Fund Awards
  • Bridging Private Debt Institutional Fund was awarded 2^nd place for the Best 5 Year Return in the Private Debt category at the 2020 Canadian Hedge Fund Awards
  • Bridging Income Fund LP celebrated its 7-year anniversary in October 2020
  • Bridging Mid-Market Debt Fund LP celebrated its 3-year anniversary in October 2020

Below is a summary of the net returns as of December 31, 2020.

Bridging Income Fund LP (Class F CAD)

*Since Inception November 2013

Bridging Mid-Market Debt Fund LP (Class F CAD)

*Since Inception November 2017

Bridging Indigenous Impact Fund (Class F CAD)

*Since Inception May 2019

Bridging Private Debt Institutional Fund (Class I CAD)

*Since Inception July 2015

 Bridging Fern Alternative Credit Fund (Class F CAD)

*Since Inception June 2019

Bridging would like to take the opportunity to thank its clients and partners for their continued support and Bridging is even more committed in its mission to deliver the stable and uncorrelated returns clients have become accustom to.

Please feel free to contact us if you have any questions.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer: The Bridging Indigenous Impact Fund, Bridging Private Debt Institutional Fund, Bridging Income Fund, Bridging Mid-Market Debt Fund and the Bridging Fern Alternative Credit Fund (the “Funds“) are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds.

Bridging Finance is the manager of the Funds. Prepared by Bridging Finance Inc. (February/2021)

Bridging Finance Inc. (the “Manager’) is pleased to confirm that on December 18, 2020 and December 21, 2020, at a special meeting of unitholders, unitholders of the Bridging Income Fund LP, Bridging Income RSP Fund, Bridging Mid-Market Debt Fund LP, Bridging Mid-Market Debt RSP Fund and Bridging Indigenous Impact Fund voted overwhelmingly in favour of the following changes:

The purpose of the changes are to increase the protection of unitholders from the ongoing effects of COVID-19 and its potential related impacts and to ensure greater consistency across the funds managed by the Manager.

Please feel free to contact us for any further questions.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

TORONTO, January 8, 2021 – After a challenging year globally, Bridging Finance Inc. (“Bridging”) is excited by the opportunity for continued growth in 2021. With the hope and prospect of a sustained economic recovery on the horizon, Bridging is actively looking for new lending opportunities across all our Funds. The Funds celebrated some significant milestones in 2020 with the Bridging Income Fund celebrating its 7-year anniversary while the Bridging Mid-Market Debt Fund celebrated its 3-year anniversary. The Bridging Indigenous Impact Fund, which provides capital for investment opportunities where there is an Indigenous focus of the deal, celebrated its 1-year anniversary in April and was also awarded 2^nd Place in the 1 Year Return category at the Canadian Hedge Fund Awards in 2020.

The Funds continue to target lending opportunities to companies looking for between $500,000 and $60,000,000+ in financing in the form of operating lines, term loans, and accounts receivable financing. Typical profiles include:

• Unique, short-term, special situations
• Growth capital with visibility on likely refinancing  
• Transition financing
• Insufficient working capital provided by existing lender
• Non-dilutive capital

About Bridging Finance Inc.

Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately over $2 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.

Please visit the offering memorandum of the Funds for any further information. Performance of the Funds is not guaranteed, and past performance is not indicative of any future performance.

For further information or lending opportunities, please contact us at 416-906-0395 or gmarr@bridgingfinance.ca

December 10, 2020

Bridging Finance Inc. (“Bridging Finance”) today announced the appointment of two accomplished finance and legal professionals to its Board of Directors.

David Allgood is a senior-level legal and business executive with extensive experience in financial services. Mr. Allgood most recently served as senior counsel to Dentons LLP, providing the global law firm with strategic business development advice and insight. Prior to that, he spent 15 years as executive vice president and General Counsel at the Royal Bank of Canada. Mr. Allgood has been repeatedly recognized as an innovator and leader in the North American in-house legal profession and also serves as a member of the Queen’s University Board of Trustees and as a director of Trillium Health Partners, one of Canada’s premier acute-care hospitals.

Hugh O’Reilly currently serves as the President and Chief Executive Officer of Acuity Global, a boutique consulting firm that provides advice on strategy to insurance companies, investment managers, real estate developers and start-ups. Mr. O’Reilly is the former President and CEO of OPTrust, one of Canada’s leading pension fund managers, where he led an organizational transformation, implemented a new investment strategy and launched a new defined-benefit pension plan for not-for-profit organizations. He is also the executive director of Innovate Cities, a senior advisor at the Global Risk Institute and a senior fellow at the C.D. Howe Institute. Mr. O’Reilly also serves on a number of boards, including Vancity Community Investment Bank, and Namerind, a not-for-profit aboriginal housing corporation.

“I’m delighted to welcome David and Hugh to our Board of Directors,” said David Sharpe, CEO, Bridging Finance. “Their extensive financial services experience, strategic insight and strong leadership will add significant and immediate value to our Board and provide invaluable guidance as we continue to grow our business.”

Below is a link to the news release.

https://www.newswire.ca/news-releases/bridging-finance-appoints-david-allgood-and-hugh-o-reilly-to-board-of-directors-880971122.html

About Bridging Finance

Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately $2 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.

Please feel free to contact us for any further questions.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

December 8, 2020

Bridging Finance Inc. (“Bridging Finance“) recently sent out Information Circulars and Proxy Forms to all Unitholders in the Bridging Income Fund, Bridging Mid-Market Debt Fund and Bridging Indigenous Impact Fund relating to the following proposed changes. An FAQ on the proposed changes is also available below.

Bridging Finance Inc. – Notice of Meeting & Information Circular and Form of Proxy FAQ

The main point on the Bridging Income Fund (LP and RSP), Bridging Indigenous Impact Fund and the Bridging Mid-Market Debt Fund (LP and RSP) is to change the notice period from monthly on 30 days notice to monthly on 90 days notice.

For the Bridging Income Fund (LP and RSP), there is also a proposal to eliminate the “catch-up fee” and set the Hurdle Rate to 6% which is in line with the Bridging Indigenous Impact Fund and Bridging Mid-Market Debt Fund.

Why are these changes being proposed? (Also in the FAQ, Question #4)

 The proposed changes to the funds aim to increase the protection of unitholders from the ongoing effects of COVID-19 and its potential related impacts. Further, these changes are being proposed to ensure greater consistency across the funds managed by Bridging Finance Inc.

1. The changes to the redemption notice period, and the ability for the manager to accept or reject redemption requests, are being made for the following reasons:
   • The funds will be better able to manage liquidity to meet unitholder redemption frequencies;
   • It will provide the manager with increased flexibility in fulfilling the investment objective and utilizing the investment strategies of the funds;
   • Increased ability to meet investor expectations with respect to liquidity demands;
   • Enhanced liquidity risk management; and
   • Enhanced cash management ability in order to better protect unitholders from unusual fluctuations in redemption requests from unitholders.
2. With respect to the change in incentive allocation payment to the general partner of the Bridging Income Fund LP and Bridging Income RSP Fund, the general partner believes that: (i) eliminating the “catch-up” incentive allocation currently payable to the general partner; and (ii) amending the defined “hurdle rate” will be beneficial to unitholders for the following reasons:
   • Simplification of the incentive allocation structure and consistency of the structure across funds managed by the manager;
   • Increased fairness and certainty to limited partners in calculating the incentive allocation structure.

The changes that are being voted on are as follows (they are also highlighted in the attached FAQ):

Bridging Income Fund LP:

1. To increase the notice period required to submit redemption requests by unitholders of the fund from 30 days to 90 days.
2. To amend the incentive allocation payable to the General Partner by:
   • (i) eliminating the “catch-up” incentive allocation payable to the general partner such that all net income of the Fund once such “Hurdle Rate” (as defined in subsection (ii)) shall be allocated as to 80% to the limited partners of the Fund and as to 20% to the general partner; and
   • (ii) amending the definition of “Hurdle Rate” in the Limited Partnership Agreement to “a Total Return per Unit of six percent (6%), as determined on the first business day of each fiscal year and applicable for the entire fiscal year”.
3. To make certain other amendments to the Limited Partnership Agreement consequential to the foregoing.

Bridging Income Fund RSP:

1. To increase the notice period required to submit redemption requests by unitholders of the fund from 30 days to 90 days.
2. To permit the manager, in its sole discretion, to accept or reject redemption requests, where the manager intends to accept redemption requests in circumstances where, in the view of the manager, it would not be prejudicial to the fund to do so.
3. To amend the performance fee payable to the manager by:
   • (i) eliminating the “catch-up” performance fee payable to the manager such that of all return of the Fund once such “Hurdle Rate” (as defined in subsection (ii)), an amount equal to 20% of such return shall be payable to the manager as a performance fee; and
   • (ii) amending the definition of “Hurdle Rate” to “a Total Return per Unit of six percent (6%), as determined on the first business day of each fiscal year and applicable for the entire fiscal year”.
4. To make certain other amendments to the Trust Agreement consequential to the foregoing.

Bridging Indigenous Impact Fund:

1. To increase the notice period required to submit redemption requests by unitholders of the fund from 30 days to 90 days
2. To permit the manager, in its sole discretion, to accept or reject redemption requests, where the manager intends to accept redemption requests in circumstances where, in the view of the manager, it would not be prejudicial to the Fund to do so.
3. To make certain other amendments to the Trust Agreement consequential to the foregoing.

Bridging Mid-Market Debt Fund LP:

1. To increase the notice period required to submit redemption requests by unitholders of the fund from 30 days to 90 days
2. To permit the manager, in its sole discretion, to accept or reject redemption requests, where the manager intends to accept redemption requests in circumstances where, in the view of the manager, it would not be prejudicial to the Fund to do so.
3. To make certain other amendments to the Limited Partnership Agreement consequential to the foregoing.

Bridging Mid-Market Debt Fund RSP:

1. To increase the notice period required to submit redemption requests by unitholders of the fund from 30 days to 90 days.
2. To permit the manager, in its sole discretion, to accept or reject redemption requests, where the manager intends to accept redemption requests in circumstances where, in the view of the manager, it would not be prejudicial to the Fund to do so.
3. To make certain other amendments to the Trust Agreement consequential to the foregoing.

For further details on the changes and information on how to vote, please contact us below and we thank you for your continued support.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Funds are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds.

Bridging Finance is the manager of the Funds. Prepared by Bridging Finance Inc. (December/2020)

November 12, 2020

Bridging Finance Inc. (“Bridging“) would like to congratulate our partners in the Mi’kmaq First Nations on a truly historic day for Indigenous communities across Canada. The partnership between the Mi’kmaq First Nations Coalition and Premium Brands to purchase Clearwater Seafoods worth over $1B is “the single largest investment in the seafood industry by any Indigenous group in Canada,” said a news release jointly issued by the Coalition and Clearwater. The release continues by saying “This strategic investment represents a transformational change in Canadian fisheries, catapulting First Nations into a leading global position in the seafood industry”. From David Sharpe, CEO of Bridging Finance and member of the Mohawks of the Bay of Quinte First Nation: “We are proud of our Mi’kmaq partners in leading the way in Indigenous economic reconciliation in Canada. This transaction serves as a model for engagement and execution in creating wealth for Indigenous groups and a stronger Canada.”

Bridging is a proud leader in the fight for economic reconciliation and is thrilled to see the continued momentum of investment and inclusion of Indigenous communities in the growth of the Canadian economy. The Bridging Indigenous Impact Fund, which was recently awarded 2nd place in the Best 1 Year Return in the Private Debt category at the 2020 Canadian Hedge Fund Awards, has been a catalyst for Indigenous economic development and reconciliation. Across Bridging’s suite of funds, approximately $600 million in First Nation loans and $100 million in Inuit loans have been deployed throughout Canada and we are excited about the countless opportunities that still exist.

Congratulations again to the Mi’kmaq First Nations!

Please contact us if you would like any further information and we thank you for your continued support.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Bridging Indigenous Impact Fund is generally exposed to the following risks. See the offering memorandum of the Bridging Indigenous Impact Fund for a description of these risks: Speculative Investments; Limited Operating History for the Trust; Distributions and Allocations; Class Risk; Repayment of Certain Distributions; Dependence of Manager on Key Personnel; Reliance on the Manager; Possible Effect of Redemptions; Tax Liability; Potential Indemnification Obligations; Not a Public Mutual Fund; Changes in Investment Strategies; Valuation of the Trust’s Investments; Lack of Independent Experts Representing Trustee’s; No Involvement of Unaffiliated Selling Agent; General Economic and Market Conditions; Liquidity of Underling Investments; Credit Risk; Impaired Loans; No Insurance; Joint Ventures and Co-Investments; Litigation; Fixed Income Securities; Equity Securities; Possible Correlation With Traditional Investments; Idle Cash; Currency Risk; Concentration.

The Bridging Indigenous Impact Fund is offered on a private placement basis pursuant to an offering memorandum and is only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about the Bridging Indigenous Impact Fund including its investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Bridging Indigenous Impact Fund and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication does not contain an offer to sell or solicitation to purchase securities of the Bridging Indigenous Impact Fund. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not residents in Canada should contact their financial advisor to determine whether securities of the Bridging Indigenous Impact Fund may be lawfully in their jurisdiction.

Bridging Finance Inc. is the Manager of the Bridging Indigenous Impact Fund. (November/2020)

October 20, 2020

Bridging Finance Inc. (“Bridging Finance“) is pleased to announce that it has been recognized with awards in each of the 3 Private Debt categories at the 2020 Canadian Hedge Fund Awards. The Bridging Indigenous Impact Fund and Bridging Private Debt Institutional Fund LP (“the Funds”) were awarded the following 2020 Canadian Hedge Fund Awards:

Best 1 Year Return

• • 2^nd Place – Bridging Indigenous Impact Fund

Best 3 Year Return

• • 3^rd Place – Bridging Private Debt Institutional Fund LP

Best 5 Year Return

• • 2^nd Place – Bridging Private Debt Institutional Fund LP

“We are extremely pleased to have these funds recognized by the Canadian Hedge Fund Awards as leading funds in the private debt sector”, said David Sharpe, Chief Executive Officer of Bridging Finance. “We are especially proud of the recognition received by the Bridging Indigenous Impact Fund given this is truly a one-of-a-kind socially responsible investment fund focused on the economic reconciliation of Indigenous communities across Canada. These awards further solidify Bridging’s position as a leading alternative credit investment manager in Canada. We appreciate the confidence placed in the funds by financial advisors and their clients and we look forward to the continued success of the funds and other products managed by Bridging”, added Sharpe.

About Bridging Finance Inc.

Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately $1.8 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.

Please visit the offering memorandum of the Funds for any further information. Performance of the Funds is not guaranteed and past performance is not indicative of any future performance.

Please feel free to contact us if you have any questions and we thank you for your continued support.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Funds are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds.

Bridging Finance is the manager of the Funds. Prepared by Bridging Finance Inc. (October/2020)

Bridging Finance, a leading financier of First Nations and Inuit and ardent supporter of Indigenous reconciliation, acknowledges Orange Shirt Day September 30

The needless destruction imposed by Residential Schools had deep and lasting effects on community life, one of them being an exhaustive destabilization of local economies. At Bridging Finance, economic reconciliation is something we believe is paramount in the battle for equal rights for Indigenous communities across Canada. Since 2014, and the launch approximately 18 months ago of the socially responsible Bridging Indigenous Impact Fund, we have loaned tens of millions of dollars into Indigenous communities across Canada for projects ranging from medical service centers to housing and manufacturing. These loans are used to produce sustained economic success measured by indicators such as increased employment and greater access to housing and medical care.

We wear Orange today not with the hope it will immediately alleviate the many issues faced by the Indigenous population in Canada, but as a commitment to learn from and listen to the intergenerational victims of this national atrocity, while continuing to provide socially responsible investment into these communities.

September 18, 2020

As first communicated on August 17, Bridging Finance Inc. (“Bridging“) is pleased to confirm that all remaining pending redemptions from the Bridging Income Fund which had an initial trade date of April 30, 2020 and May 29, 2020 will be paid out by the end of September using the trade date of August 31, 2020.

Bridging is also pleased to confirm the remaining  pending redemptions from the Bridging Mid-Market Debt Fund which had an initial trade date of May 29, 2020 will also be paid out by the end of September with a trade date of August 31, 2020.

As a reminder, the Bridging Income Fund LP, Bridging Income RSP Fund, Bridging Mid-Market Debt Fund LP and Bridging Mid-Market Debt RSP Fund are all open for purchase and redemption orders.

We thank you for your continued support during these unprecedented times as we remain focused on managing the Funds liquidity and preserving unitholder value all while continuing to deliver the consistent and uncorrelated returns your clients have become accustomed to.

Please feel free to contact us if you have any questions.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Funds are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds.

Bridging Finance is the manager of the Funds. Prepared by Bridging Finance Inc. (September/2020)

By Diane Amato for Royal Bank of Canada (excerpt from RBC’s website)
June 24, 2020

Link to full article

August 17, 2020

Redemption Update
regarding the
Bridging Income Fund and Bridging Mid-Market Debt Fund
(collectively, the “Funds”)

Lifting of Temporary Suspension on Redemptions

Bridging Finance Inc. (“Bridging“) is pleased to announce that the temporary suspension of redemptions in the Bridging Income Fund and Bridging Mid-Market Debt Fund (the “Funds“) will be lifted effective Monday, August 17, 2020. As such, the Bridging Income Fund LP, Bridging Income RSP Fund, Bridging Mid-Market Debt Fund LP and Bridging Mid-Market Debt RSP Fund will re-open for purchases and redemption orders as of Monday, August 17, 2020.

New Redemption Requests

Given the continued uncertainties surrounding the COVID-19 pandemic and the potential effects of a second wave of COVID-19 cases on financial markets, Bridging will be implementing a temporary limit on monthly redemptions of CAD$10,000,000 on the Bridging Income Fund and CAD$5,000,000 on the Bridging Mid-Market Debt Fund.

These limits will be inclusive of all redemptions received within the LP and RSP versions of the Funds and are being temporarily placed in order to ensure unitholders are adequately protected. In the event that the monthly redemptions received by the Funds exceed the temporary limits mentioned above, the redemption requests will be processed on a pro-rata basis to ensure all redemption requests are treated equally amongst all unitholders. In these cases, any redemption amount not processed during the month will be cancelled and will need to be re-submitted.

Existing Redemption Requests (Trade Date of March 31, April 30 and May 31)

In regards to the Bridging Mid-Market Debt Fund (LP and RSP), Bridging is pleased to announce that sufficient liquidity has been created by Bridging in order to process all of the outstanding redemption requests. All outstanding requests will be processed on the August 31, 2020 trade dates and unitholders will receive their redemption proceeds near the end of September 2020.

In regards to the Bridging Income Fund (LP and RSP), Bridging is also pleased to announce that as a result of certain upcoming loan maturities and the anticipated sale of certain loans at full face-value, absent any unexpected situations or events, Bridging should be in a position to process all of the outstanding redemptions on the August 31, 2020 trade date with the redemption proceeds being paid to unitholders near the end of September 2020.

We thank you for your support during these unprecedented times as we remain focused on managing the Funds liquidity and preserving unitholder value all while continuing to deliver the consistent and uncorrelated returns your clients have become accustomed to.

Please feel free to contact us if you have any questions.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Funds are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds.

Bridging Finance is the manager of the Funds. Prepared by Bridging Finance Inc. (August/2020)

Bridging Finance Inc. (“Bridging Finance”) is pleased to announce the appointment of Mr. Michael Garofalo as Chief Financial Officer of Bridging Finance.

Michael is an accomplished finance professional who brings over 20 years of experience in public accounting with him to Bridging Finance. Michael is a Chartered Professional Accountant, Certified Public Accountant and a CFA charterholder, and has a Bachelor of Administrative Studies from York University. He also previously served as President of the CFA Society Cayman Islands.

Michael specializes in asset management and previously held the role of Senior Manager at KPMG Canada. Prior to that, he was the Audit Director for KPMG in the Cayman Islands.

“I am thrilled to welcome Mike to the leadership team at Bridging Finance. I am positive that the combination of his past experience and strong financial rigor will be incredibly valuable to both Bridging Finance and to unitholders of the funds managed by Bridging Finance,” said David Sharpe, CEO of Bridging Finance.

“I am delighted to be joining the team at Bridging Finance as we continue to expand and provide greater value to unitholders,” added Mr. Garofalo.

About Bridging Finance Inc.

Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately $1.7 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.

August 11, 2020

Bridging Finance Inc. (“Bridging“) is taking important steps towards streamlining operations, improving the ease of doing business and reducing costs and redundancies. Effective October 31, 2020, Bridging will be changing the administrator on the Bridging Income Fund from RBC Investor & Treasury Services to SS&C Fund Administration Company who is the current administrator for all other Bridging funds. Bridging will be sending out another communication with further details on this change in the coming weeks. Notices have also been mailed out to all clients informing them of this change.

Copies of the notices can be found below.

Please contact us if you would like any further information and we thank you for your continued support.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

Andrew Woo, Director, Investor and Dealer Relations – C: (416) 456-1283, awoo@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

August 10, 2020

In Bridging Finance Inc.’s (“Bridging“) continued efforts to raise awareness and build support for economic reconciliation of Indigenous communities in Canada, Bridging recently launched an advertising campaign in The Globe and Mail. Below is a half page ad that was published in the Saturday, August 1 edition of The Globe and Mail which will be followed by a month long digital campaign in the Business section.

Please contact us if you would like any further information and we thank you for your continued support.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Bridging Indigenous Impact Fund is generally exposed to the following risks. See the offering memorandum of the Bridging Indigenous Impact Fund for a description of these risks: Speculative Investments; Limited Operating History for the Trust; Distributions and Allocations; Class Risk; Repayment of Certain Distributions; Dependence of Manager on Key Personnel; Reliance on the Manager; Possible Effect of Redemptions; Tax Liability; Potential Indemnification Obligations; Not a Public Mutual Fund; Changes in Investment Strategies; Valuation of the Trust’s Investments; Lack of Independent Experts Representing Trustee’s; No Involvement of Unaffiliated Selling Agent; General Economic and Market Conditions; Liquidity of Underling Investments; Credit Risk; Impaired Loans; No Insurance; Joint Ventures and Co-Investments; Litigation; Fixed Income Securities; Equity Securities; Possible Correlation With Traditional Investments; Idle Cash; Currency Risk; Concentration.

The Bridging Indigenous Impact Fund is offered on a private placement basis pursuant to an offering memorandum and is only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about the Bridging Indigenous Impact Fund including its investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Bridging Indigenous Impact Fund and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication does not contain an offer to sell or solicitation to purchase securities of the Bridging Indigenous Impact Fund. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not residents in Canada should contact their financial advisor to determine whether securities of the Bridging Indigenous Impact Fund may be lawfully in their jurisdiction.

Bridging Finance Inc. is the Manager of the Bridging Indigenous Impact Fund. (August/2020)

August 7, 2020

Redemption Update
regarding the
Bridging Income Fund and Bridging Mid-Market Debt Fund
(collectively, the “Funds”)

With the closing of further loans at par, Bridging Finance Inc. (“Bridging”) is now in a position to payout the remaining outstanding redemptions from the Bridging Mid-Market Debt Fund with an initial trade date of April 30, 2020 and a further 11% of the outstanding redemptions on the Bridging Income Fund with an initial trade date of April 30, 2020. The redemptions are expected to be paid out by the end of next week.

This takes the total repayment of April 30 redemptions on the Bridging Mid-Market Debt Fund to 100% while the Bridging Income Fund has paid out approximately 27%.

Bridging is also in the process of finalizing the last payment of outstanding redemptions from the Bridging Mid-Market Debt Fund with a trade date of May 29, 2020 and expect to have this completed by the end of August.

In the coming weeks, Bridging will be in the process of selling more loans at par within the Bridging Income Fund and we hope to have the temporary suspension removed by the beginning of September.

As a reminder, the LP versions of the Bridging Income Fund and Bridging Mid-Market Debt Fund are open for purchase subscriptions.

We thank you for your support during these unprecedented times as we remain focused on working through these redemptions while continuing to deliver the consistent  and uncorrelated returns your clients have become accustomed to.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Funds are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds.

Bridging Finance is the manager of the Funds. Prepared by Bridging Finance Inc. (August/2020)

July 20, 2020

Redemption Update
regarding the
Bridging Income Fund and Bridging Mid-Market Debt Fund
(collectively, the “Funds”)

Bridging Finance Inc. (“Bridging“) closed on the sale of another loan at par this week in the Bridging Mid-Market Debt Fund and will be paying out approximately a further 29% of the outstanding April 30 redemptions. The redemptions will be paid this Wednesday and clients should receive their proceeds by the end of this week. This takes the total repayment of April 30 redemptions on the Bridging Mid-Market Debt Fund to 48% while the Bridging Income Fund has paid out 19%.

Upon the repayment of certain loans and syndicated loan proceeds being received by Bridging in the coming weeks, Bridging will continue paying out the outstanding redemptions as these events occur.

As a reminder, the LP versions of the Bridging Income Fund and Bridging Mid-Market Debt Fund are open for purchase subscriptions.

We thank you for your support during these unprecedented times as we remain focused on working through these redemptions while continuing to deliver the consistent  and uncorrelated returns your clients have become accustomed to.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Funds are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds.

Bridging Finance is the manager of the Funds. Prepared by Bridging Finance Inc. (July/2020)

July 17, 2020

Bridging Finance Inc. (“Bridging“) recently celebrated an exceptional first year for the Bridging Indigenous Impact Fund (“BIIF“) with a 1-year net return of 10.25% as of May 29, 2020. The BIIF is a unique Socially Responsible Fund dedicated to financing Indigenous economic development.

Bridging has established itself as the preeminent bridge lender to First Nations in Canada. Since 2014, Bridging has successfully deployed over $500 million with First Nations and $100 million to Inuit and is pleased to offer this unique investment opportunity to the Canadian market through the BIIF.

Here are some key highlights of investing in the growth of First Nations

• First Nations community wealth creation is about increasing economic well-being and quality of life for a community in a way that reflects the community’s social, cultural and environmental values.
• Financing structure is adaptable to meet development needs.
• Major Financial Institutions are becoming more involved in the space and, in almost all cases, provide the replacement financing at the end of Bridging’s term.
• Projects have included housing, renewable energy, commercial development, facility production & retail opportunities.

Below are some further examples of loans Bridging has made to First Nations.

In addition to supporting the economic growth of First Nations across Canada, clients in the BIIF have also enjoyed a strong return on their investment highlighted in returns below.

Bridging Indigenous Impact Fund Class F (May 2020)

 *Since Inception May 2019

As a reminder, the BIIF is open for subscription purchases.

Bridging Indigenous Impact Fund Class F – Fact Sheet

Please contact us if you would like any further information and we thank you for your continued support.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The BIIF is generally exposed to the following risks. See the offering memorandum of the BIIF for a description of these risks: Speculative Investments; Limited Operating History for the Trust; Distributions and Allocations; Class Risk; Repayment of Certain Distributions; Dependence of Manager on Key Personnel; Reliance on the Manager; Possible Effect of Redemptions; Tax Liability; Potential Indemnification Obligations; Not a Public Mutual Fund; Changes in Investment Strategies; Valuation of the Trust’s Investments; Lack of Independent Experts Representing Trustee’s; No Involvement of Unaffiliated Selling Agent; General Economic and Market Conditions; Liquidity of Underling Investments; Credit Risk; Impaired Loans; No Insurance; Joint Ventures and Co-Investments; Litigation; Fixed Income Securities; Equity Securities; Possible Correlation With Traditional Investments; Idle Cash; Currency Risk; Concentration.

The Bridging Indigenous Impact Fund is offered on a private placement basis pursuant to an offering memorandum and is only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about the BIIF including its investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the BIIF and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication does not contain an offer to sell or solicitation to purchase securities of the BIIF. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not residents in Canada should contact their financial advisor to determine whether securities of the BIIF may be lawfully in their jurisdiction.

Bridging Finance Inc. is the Manager of the Bridging Indigenous Impact Fund. (July/2020)

July 17, 2020

Redemption Update
regarding the
Bridging Income Fund and Bridging Mid-Market Debt Fund
(collectively, the “Funds”)

With Bridging Finance Inc. (“Bridging“) closing on the sale of another loan this week at par, the Bridging Income Fund is in a position to pay out approximately a further 9% of the April 30 redemptions. The redemptions will be paid out this week and clients should receive their proceeds by the end of next week. This takes the total repayment of April 30 redemptions on the Bridging Income Fund to 19% while the Bridging Mid-Market Debt Fund has also paid out 19%.

Upon the repayment of certain loans and syndicated loan proceeds being received by Bridging in the coming weeks, Bridging will continue paying out the outstanding redemptions as these events occur.

As a reminder, the LP versions of the Bridging Income Fund and Bridging Mid-Market Debt Fund are open for purchase subscriptions.

We thank you for your support during these unprecedented times as we remain focused on working through these redemptions while continuing to deliver the consistent  and uncorrelated returns your clients have become accustomed to.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Funds are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds.

Bridging Finance is the manager of the Funds. Prepared by Bridging Finance Inc. (July/2020)

June 30, 2020

Redemption Update
regarding the
Bridging Income Fund and Bridging Mid-Market Debt Fund
(collectively, the “Funds”)

As first communicated on June 22, 2020, Bridging Finance Inc. (“Bridging”) is now in a position to payout all remaining redemptions from the Bridging Income Fund with an initial trade date of March 31, 2020. The redemptions will be paid out by the end of this week.

Once all of the March 31 redemptions are paid, Bridging will begin paying out the April 30 redemptions on a pro-rata basis. Bridging has closed on the sale of some loans this week and will pay out approximately:

10% of April 30 redemptions from the Bridging Income Fund
19% of April 30 redemptions from the Bridging Mid-Market Debt Fund

These redemptions will also be paid out by the end of this week.

Upon the repayment of certain loans and syndicated loan proceeds being received by Bridging in the coming weeks, Bridging will continue paying out the outstanding redemptions as these events occur.

As a reminder, the LP versions of the Bridging Income Fund and Bridging Mid-Market Debt Fund are open for purchase subscriptions.

We thank you for your support during these unprecedented times as we remain focused on working through these redemptions while continuing to deliver the consistent  and uncorrelated returns your clients have become accustomed to.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Funds are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds.

Bridging Finance is the manager of the Funds. Prepared by Bridging Finance Inc. (May/2020)

May 15, 2020

Redemption/Liquidity Update
regarding the
Bridging Income Fund and Bridging Mid-Market Debt Fund
(collectively, the “Funds”)

Redemption Protocol

Bridging Finance Inc. (“Bridging”) is taking strong steps towards increasing liquidity in the Funds and has received questions on the protocol surrounding how redemptions will be processed once we have built up sufficient liquidity. Bridging will be processing redemption requests on a “first in, first out” basis for redemption requests with a trade date of March 31, 2020. Redemption requests with a trade date of March 31, 2020 will be processed ahead of redemptions requests with a trade date of April 30, 2020. Once Bridging has satisfied the March 31, 2020 redemptions, we will process the April 30 redemptions on a percentage basis and continue following this protocol until redemptions are fully paid out. For example, for redemptions with a trade date of April 30, 2020, we will be honouring redemptions as a percentage of all redemptions for the period – i.e. 5% or another percentage amount until all redemptions are paid.

Bridging reports that the redemption requests with a trade date of March 31, 2020 will be paid out imminently.

Liquidity Update

Bridging has taken several steps aimed at increasing the cash position in the Funds. Bridging thanks the many advisors who have cancelled redemption requests and continues to encourage advisors who can to cancel pending redemption requests. A number of loans are maturing and will be paid in full. In addition, Bridging has been in discussion with large family offices and institutions to sell credits at par or syndicate loans with them. Bridging has seen a significant amount of interest in these loans due to the quality and terms of the loans.

March 2020 was truly an unprecedented month for global markets and in the face of this global economic turmoil, Bridging continued to deliver the consistent, uncorrelated returns our clients have come to appreciate. For the month of March, the Bridging Income Fund LP Class F returned 0.60%, the Bridging Mid-Market Debt Fund LP returned 0.59% and the Bridging Indigenous Impact Fund returned 0.74%.

Bridging’s portfolio of loans continues to perform well in the face of the global economic shutdown with some borrowers even seeing an increase in demand for their essential goods and services. We are in constant contact with our borrowers and to date have not seen any deterioration in the quality of the loans or the ability of the borrowers to satisfy their interest obligations. Bridging anticipates being able to continue delivering the consistent, uncorrelated returns for the months and years ahead.

Bridging Income Fund LP Class F (March 2020) (LP open for new purchases)

*Since Inception November 2013

Bridging Mid-Market Debt Fund LP Class F (March 2020) (LP open for new purchases)

*Since Inception November 2017

Bridging Indigenous Impact Fund Class F (March 2020) (Open for new purchases)

*Since Inception May 2019

The long-term opportunity of the “private debt” market remains compelling, which is why so many managers are moving into the sector. Asset owners, however, should remain focused on the manager’s longevity, track record and credit-and-collection experience, while considering other factors that can help fine-tune their risk-adjusted returns.

Bridging thanks advisors and clients for their support and wishes you and family all the very best in these unprecedented times.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Disclaimer:

The Funds, and the Bridging Indigenous Impact Fund, are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds, including the Bridging Indigenous Impact Fund, are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds or the Bridging Indigenous Impact Fund.

Bridging Finance is the manager of the Funds and the manager of the Bridging Indigenous Fund. Prepared by Bridging Finance Inc. (May/2020)

Bridging Finance Inc. (“Bridging”), would like to start by wishing all of our clients and their families good health and safety during these unprecedented times. At Bridging, we are committed to communication and transparency with our clients so we would like to share some insights into why we have taken the difficult but necessary step of temporarily suspending redemptions from our Bridging Income Fund LP, Bridging Income RSP Fund, Bridging Mid-Market Debt Fund LP and Bridging Mid-Market Debt RSP Fund (collectively, the “Funds”)

What is the rationale for temporarily suspending redemptions?

• • As we have all experienced over the past several months, the COVID-19 pandemic has fundamentally altered our way of life and has resulted in a virtual shut-down of the global economy. Although the economic impact is likely to be more significant than in 2008, it is important to keep in mind that this event is unique in that there is no systemic failure of the market. We expect market recovery to be swift once people are back to work again.
  • During this pandemic, we have seen extreme volatility across all major markets which has resulted in an unprecedented level of redemption requests received at Bridging for the Funds. During normal times, Bridging aims to keep cash exposure in the portfolios to roughly 5% to limit cash drag in the portfolios. In response to the pandemic, our initial efforts have focused on raising cash levels in the portfolio to a goal of approximately 10%. Unfortunately, Bridging saw redemptions requests increase to approximately 14% of the Funds during this period. This is unprecedented. Quite simply, the trigger to suspend redemptions was based on redemptions in the Funds that far exceeded our cash position.
  • Bridging took the necessary step of protecting unitholder value by temporarily suspending redemptions instead of demanding on well performing loans or selling assets at a discount in a non-functioning, depressed marketplace.
  • Today, the Bridging funds are performing well and we continue to support Canadian Mid-Market companies, many of whom are involved in the recovery of our local economies, by not demanding on loans during a time of a national and global crisis.
  • It is noteworthy that suspending redemptions is not uncommon in the private debt market, especially during a time of a global crisis. Fund managers operating similar strategies across the globe have also made the decision to gate or suspend their redemptions in this unique time. It is also likely that other private lenders will follow suit and gate their funds if they have not done so already.

How will the temporary suspension be enforced to ensure fairness?

• • The temporary suspension is applicable to the Bridging Income Fund LP, Bridging Income RSP Fund, Bridging Mid-Market Debt Fund LP and Bridging Mid-Market Debt RSP Fund.
  • All redemptions in the funds placed between February 1, 2020 to April 13, 2020 have been suspended.
  • The funds will continue to make their regular distributions that so many of our investors rely on.
  • No further redemptions or subscriptions into these funds will be accepted until the suspension is terminated, which we anticipate being within the following 120 days.
  • Unitholders have the right to withdraw redemption requests previously submitted. This will allow Bridging to open the Funds sooner. For unitholders who do not withdraw previously submitted redemption requests, they will have their redemption requests processed in the order they were received (“first in, first out”) on the first valuation date following the date on which the suspension is terminated.
  • For the time being, all other products managed by Bridging remain available to investors in the ordinary course (i.e. Bridging Indigenous Impact Fund and the Bridging Fern Alternative Credit Fund).

What steps are being taken to resolve this situation?

• • Bridging will not be writing any new loans for the impacted Funds during this temporary suspension.
  • Cash position will continue to build as loans mature in the portfolios as the maturities are staggered.
  • Advisor and clients voluntarily withdrawing redemption requests.
  • Bridging is also exploring selling loans in the marketplace for full value. Bridging will not be selling loans at a discount to face value.
  • Bridging is incenting borrowers to pay off loans sooner by waiving pre-payment penalties.

How are the Fund portfolios doing?

• • The Funds have very little exposure to sectors impacted by the pandemic (e.g. hospitality, tourism, travel, energy). Approximately 90 percent of our borrowers provide essential goods or services.
  • To date, only one borrower has requested that we accrue their interest. Bridging granted this request as there is more than sufficient collateral supporting the loan.
  • We do not plan on making loan demands to our borrowers as long as the loans are performing.
  • Borrowers are still servicing their loans and given the extensive asset coverage (collateral), Bridging is very optimistic of achieving returns in this market.

For clients in all Bridging portfolios, we expect to continue providing the stable monthly returns that Bridging has delivered for the past 7 years. Bridging recognizes that to ensure we provide the best returns to our unitholders, we must continue to be prudent and patient and we ask that our clients join us in this commitment. Bridging has, and will always, place the interest of our unitholders first and foremost.

We thank you for your patience and partnership.

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Past performance is not indicative of future results. This notice shall not constitute an offer to sell the units or the solicitation of an offer to buy the units of any product managed by Bridging Finance Inc., nor will there be any sale of the units, in any jurisdiction where such offer, solicitation or sale is not permitted.

TEMPORARY REDEMPTION SUSPENSION

Bridging Income Fund LP/Bridging Income RSP Fund and
Bridging Mid-Market Debt Fund LP/Bridging Mid-Market Debt RSP Fund
(collectively, the “Funds”)

TORONTO, ONTARIO – April 13, 2020

Bridging Finance Inc. (“Bridging”) is one of Canada’s largest bridge lenders to medium-sized businesses. During this harmful pandemic, Bridging borrowers are providing essential services across Canada. These borrowers are milling flour, delivering groceries, repairing Coast Guard vessels and monitoring train tracks, among meeting many other vital needs for the Canadian people.

Today, the Bridging portfolios are performing well. In fact, many Bridging borrowers are experiencing higher demand for their products as people need more of the basic services that they provide. If Bridging were to press existing borrowers out of the portfolio in order to satisfy unusual redemptions in the Funds, the effect would be to cut off funding to these businesses during an unprecedented economic emergency. It could also result in Bridging investors being unfairly treated if Bridging were to be asked to sell positions at a discount given the lack of a normal market.

To protect all unitholders of the Funds from the effects of this pandemic, Bridging is taking the following steps:

• • • Affirmative action and temporarily suspending all redemptions from the Funds. While a difficult decision, it is one that needs to be implemented to maintain investor value and limit pandemic effects. All redemptions in the Funds placed between February 1, 2020 to April 13, 2020 will therefore be suspended.
    • The Funds will continue to make their regular distributions that so many of our investors rely on.
    • We will be reaching out to advisors who have placed redemption requests to let you know that you have the right to withdraw your requests for redemption. This will allow this temporary suspension to be quickly terminated.
    • Effective immediately, no further requests for redemption or any new subscriptions into these Funds will be accepted until the suspension has been terminated, which we anticipate being within the following 120 days.
    • For unitholders who do not withdraw previously submitted redemption requests, they can opt to receive their redemption proceeds on the first valuation date following the date on which the suspension is terminated.
    • For the time being, all other products managed by Bridging remain available to investors in the ordinary course (i.e. Bridging Indigenous Impact Fund and the Bridging Fern Alternative Credit Fund).

For investors in all Bridging funds, we expect to continue providing the stable monthly returns that Bridging has delivered for the past number of years. Bridging recognizes that to ensure we provide the best returns to our unitholders, we must continue to be prudent and patient. Bridging has, and will always, place the interest of our unitholders first and foremost.

English PDF

French PDF

For further information on this notice:

Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca

Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca

David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Past performance is not indicative of future results. This notice shall not constitute an offer to sell the units or the solicitation of an offer to buy the units of any product managed by Bridging Finance Inc., nor will there be any sale of the units, in any jurisdiction where such offer, solicitation or sale is not permitted.

Bridging Finance supporting First Nations during these challenging times – Message from Chief Glenn Hudson of Peguis First Nation

Bridging Finance continues to strongly support our borrowers through these challenging times. Mid-market companies help drive the Canadian economy. Many First Nations across Canada are also relying on us for housing, food security and for economic development. Not only are these strong credits, our partnerships with First Nations supports infrastructure development and creates jobs. This is vital for First Nations and makes Canada stronger. First Nations business is great business!

During these challenging times we thank you and ask for your continued support of our funds! In First Nations communities, the virus does not discriminate, but responses to it do.

Below is a short video message from Chief Glenn Hudson of Peguis First Nation.

Bridging Finance has always been committed to supporting the growth of strong Canadian businesses. This is what we do. It is even more vital during these challenging times. We have seen the Canadian government take the unprecedented steps of closing our borders and ordering the temporary closure of all non-essential businesses to help combat the spread of the Covid-19 virus.

It is during these times that we see the impact that our loans have on fuelling the critical businesses in our economy. One essential area of the economy that has received a great deal of press recently is the food and grocery industry. Bridging  continues to support this industry through a number of partnerships. One firm in particular is SPUD, one of Canada’s largest online grocery retailers delivering fresh, local organic produce and groceries to Canadians. It is critical during these times to continue supporting businesses like SPUD and one way of doing this is by staying the course with Bridging. Bridging’s consistent, non-correlated returns act as a buffer to client portfolios during these volatile times while also offering critical financial support to these essential Canadian businesses and communities impacted by the pandemic like our First Nations communities.

Below is a short video message from the CEO of SPUD, Peter van Stolk, on what they are doing during these challenging times.

Real people, real businesses that continue to require our joint efforts and support for all Canadians.

David Sharpe has spent much of the past 72 hours fielding calls from companies desperate for bridging loans.

Before last week, Sharpe’s Bridging Finance Inc. would get around four calls a day from higher-quality borrowers. Now, with the coronavirus pandemic shutting down large chunks of the Canadian economy, it’s getting more than 30.

“The process of getting money from the big banks has slowed significantly,” the founder of the Toronto-based company said by phone. “The bigger you are, the longer it takes to adapt amid chaos,” he said.

Smaller players in the $812 billion global private lending market are seeing a jump in demand as the meltdown in business from the virus roils global credit markets and overloads traditional financing.

In the U.S., pure direct lending firms are getting many calls, but sitting on the sidelines to assess the damage to existing borrowers. Opportunistic firms with flexible capital to lend to distressed companies at steeper discounts are being more active.

Bridging Finance has C$1.6 billion ($1.1 billion) in assets under management with the most of its direct lending funds invested in collateral-based bridging loans, inventory and accounts-receivables financing.

Sharpe’s team is speeding up work to accommodate some of the requests for urgent loans ranging from C$10 million to C$50 million, he said.

At Arif Bhalwani’s shop, calls for loans increased three fold. But instead of originating new loans, he is seeing better opportunities in the secondary market as banks try to clean their balance sheets and offload some of their credits.

“Borrowers are worried that banks will not close by deadlines due to market stress and risk aversion and in some sectors such as resources and construction, banks are closed for lending and likely offloading loans at discounts to lenders like us,” said the founder of Third Eye Capital Management Inc., which manages C$2.5 billion in private credit and is working to raise a new C$1 billion fund.

The spike in credit requests are coming mostly from the energy patch and retail and consumer sectors, but the firm is also receiving inquires to support interim financing needs through restructurings, and for backup financing on acquisitions that are threatened to get hung, Bhalwani said.

“We have cash to invest and the requisite distressed investing experience to benefit from a once-in-a-decade opportunity,” he said.

The latest volatility could be a trial for the burgeoning asset class.

“This is not a man-made crisis like 2008, and so we don’t know how long it will last,” he said. “The legitimacy of the private debt asset class is going to be tested in this environment – will they fill the funding gap or exacerbate credit risks? There are several zombie borrowers lurking inside private debt portfolios.”

Link to full article

Considerable time and attention has been dedicated internally to assessing any potential impacts that the recent global virus and oil shocks may have on our portfolio of loans. As a reminder, our mandate involves loans that are secured by first-ranking liens over all the assets of our borrowers. In other words, our capital is the lowest risk capital in our Borrower’s capital structure.  The assets securing our positions are primarily receivables, inventory, equipment, and to a much lesser extent, buildings and real estate. The exposure of many of our loan facilities fluctuates with the value of the underlying receivables and inventory that provide the borrowing base that supports the loans and as the Borrower’s receivables and inventory decrease so too does the amount of our exposure.

Bridging has been in communication with the management teams of our individual Borrower’s over the past several weeks to understand how these recent events are impacting their businesses. Overall, our portfolio has been immune from direct hits from these events. Bridging does not have any exposure to the travel industry which has been widely impacted by recent events. Bridging has one Borrower in the transportation industry representing less than 1% of the portfolio. This Borrower is a well capitalized global logistics company that specializes in shipping product via sea and has actually seen a pick up in demand for its services. As has been communicated previously, we have no focus on commodities and have no intention of providing capital to that sector in the future.

While we have avoided having any direct exposure to these recent events, our Borrowers are not completely immune from secondary effects of a slow down in growth. However, we are confident that our focus on senior-secured loans, and our emphasis on collateral values combined with an intense monitoring of our loans, will prove to be a prudent strategy in this environment.  We do expect that access to bank credit may slow in the next few quarters, which will result in a flood of overlooked and attractive borrowers for Bridging.

During this time, Bridging has implemented its Business Continuity Plan (“BCP”) in order to ensure minimal disruption to the daily operations of the business or delays in the striking of the NAV each month. The BCP procedures are being followed until further notice is provided.

For further information on Bridging Finance Inc.:

David Sharpe, LLB, LLM, MBA
Chief Executive Officer, Bridging Finance Inc.,
C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Ian Baele
Senior Vice President, Sales, Bridging Finance Inc.
C: (416) 937-7641, ibaele@bridgingfinance.ca;

Scott Miller
Director, Sales, Bridging Finance Inc.,
C: (647) 984-7524, smiller@bridgingfinance.ca

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Bridging Finance Inc. (“Bridging”) is pleased to announce a Canada wide roadshow promoting the launch of Bridging’s new fund of funds, the Bridging Fern Alternative Credit Fund. The events will be a panel format and will showcase industry leading global private debt managers who will discuss their specific strategies. These managers include BlackRock Asset Management, Morgan Stanley, Algonquin Capital Corporation, Next Edge Capital Corp, 1832 Asset Management LP and Purpose Investments.

Event Details:

Vancouver
Date: Monday, February 24, 2020
Time:  12:00am – 1:30pm
Location: The Vancouver Club

Calgary
Date: Tuesday, February 25, 2020
Time:  11:30am – 1:00pm
Location: Calgary Petroleum Club

Toronto
Date: Thursday, February 27, 2020
Time:  11:30am – 1:00pm
Location: The National Club

Montreal
Date: Friday, February 28, 2020
Time:  11:30am – 1:00pm
Location: The St. James Club

The Bridging Fern Alternative Credit Fund was launched in June 2019 and invests in a portfolio of specially selected investment funds and alternative investment vehicles that employ alternative credit investment strategies such as liquid credit and private credit. The strategies and underlying funds are managed by some of the largest and most established global private debt managers. The addition of this product is an excellent complement to Bridging’s existing offerings and will support the growth of Bridging as a preeminent private debt lender.

For any individuals interested in attending any of these events, please e-mail Bridging at inquiries@bridgingfinance.ca.

About Bridging Finance Inc.

Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately $1.7 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts. For more information, please visit bridgingfinance.ca.

Please visit the offering memorandum of the Funds for any further information. Performance of the fund is not guaranteed and past performance is not indicative of any future performance.

For further information on Bridging Finance Inc.:

David Sharpe, LLB, LLM, MBA
Chief Executive Officer, Bridging Finance Inc.,
C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Ian Baele
Senior Vice President, Sales, Bridging Finance Inc.
C: (416) 937-7641, ibaele@bridgingfinance.ca;

Scott Miller
Director, Sales, Bridging Finance Inc.,
C: (647) 984-7524, smiller@bridgingfinance.ca

SYDNEY, NS, Jan. 14, 2020 – Sydney Harbour Investment Partners (“SHIP”) announces the expansion of its partnership consortium to include Membertou and Bridging Finance Inc.

SHIP is working to develop Novaporte, a deep-water, multi-use port on 500 acres within the Port of Sydney. Novaporte is expected to have container capacity of 1 million TEU’s in phase one and 3 million TEU’s by phase three. The port will also accommodate vehicle roll-on/roll-off with the infrastructure to support electric vehicles, as well as bulk, break bulk, heavy equipment and special project cargo. Novaporte has the major components for a successful development in place, including a 99-year land lease option with the Cape Breton Regional Municipality (CBRM), long- lead time environmental approvals, Canadian Foreign Trade Zone designation, and ready access to nearby rail infrastructure connecting the site to the rest of Canada and the United States.

Membertou, a progressive Mi’kmaq community located only three kilometers from downtown Sydney, has an existing partnership through SHIP’s Novazone project. Novazone is a planned logistics park of more than 1250 acres which is directly adjacent to the Novaporte site. In addition to Membertou, the other 12 Nova Scotia Mi’kmaq communities are also currently major shareholders of Novazone.

Furthering the relationship with Mi’kmaq partners, the next stage will see Membertou become major equity players in SHIP and Novaporte – while remaining invested in Novazone.

Chief Terry Paul, CEO of Membertou Development Corporation, says, “Through increased efforts with SHIP, we see great potential for the future of Sydney Harbour. In Membertou, we recognize the robust capacity of the port and believe its economic opportunities are vast.” In working together with Membertou, SHIP will establish Novaporte and Novazone as the only large-scale, deep-water port projects in Canada with major Indigenous ownership and leadership.

Bridging Finance is an Indigenous-led private Canadian company providing middle-market Canadian companies with alternative financing options. David Sharpe, CEO of Bridging Finance and a member of the Mohawks of the Bay Quinte, commented, “We see tremendous potential in this project and we think it has wide-reaching benefits to Membertou and all 13 Mi’kmaq communities, as well as for the entire province of Nova Scotia. We look forward to our partnership with SHIP.”

SHIP CEO, Albert Barbusci, pointed to Novazone and Novaporte as exemplary models of private sector nation-to-nation collaboration and partnership. “This project will change transportation patterns in eastern North America and catalyze the Atlantic Gateway,” remarked Barbusci. “This is a model of nation-building with Indigenous participation and leadership; an important model for all projects moving forward.”

Novaporte is designed by global engineering firm AECOM to be one of the most efficient and greenest ports in the Americas. The port and adjacent logistics park will be carbon neutral and developed with the latest green maritime technologies.

About Bridging Finance Inc.:

Bridging Finance Inc. was founded in 2012 as a privately held Canadian company providing middle-market Canadian companies with alternative financing options to those offered by traditional lenders.

About Membertou Development Corporation:

Membertou Development Corporation is home to twelve corporate entities and is the business and economic development arm of the Mi’kmaq community of Membertou.

Since its incorporation in 1989, the Membertou Development Corporation has aimed to serve the needs of the Membertou community and create strong partnerships for the future of business in Unama’ki.

About Novaporte:

Novaporte is an ice-free deep-water port adjacent to a large logistics park, connected to North America’s rail and road system. Novaporte and Novazone, operating within a Foreign Trade Zone and located on nearly 2000 acres of land, will accommodate 1 million TEU’s in phase one and 3 million by phase three. The port and logistics park will also accommodate ro-ro traffic with a focus on electric vehicles, heavy machinery and large vehicles, bulk and break bulk traffic and special project cargo. Novaporte is one of the most valuable pieces of maritime real estate in the western hemisphere.

Press release

Bridging Finance Inc. (“Bridging”) is pleased to announce a successful finish to the 2019 fiscal year, having provided over $600MM in new commitments with over 30 transactions closed in 2019 across Canada.

In addition to these commitments in 2019, Bridging expanded its offering with the launch of two additional products:

The Bridging Indigenous Impact Fund, which launched in April, is a socially responsible fund providing support for the economic development of Indigenous communities and projects. The fund’s main investment objective is to provide capital to support Indigenous initiatives including Indigenous enterprises, infrastructure projects, and to communities directly, in order to maintain, create and enhance a thriving and sustainable economy for Indigenous peoples and communities.

Additionally, Bridging also launched a new ‘fund of funds’ product in June. The Bridging Fern Alternative Credit Fund invests in a portfolio consisting of securities of specially selected investment funds and alternative investment vehicles that employ alternative credit investment strategies. The addition of these products is an excellent complement to Bridging’s existing offering and will support the growth of Bridging as a preeminent private debt lender. A sample of deals completed in 2019 can be accessed by the link below:

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MEMBERTOU, N.S. – The Chronicle Herald

Sydney Harbour Investment Partners has expanded its partnership consortium to include Membertou First Nation and Bridging Finance Inc.

The partnership is working to develop Novaporte, a deep-water, multi-use port on 500 acres within the Port of Sydney. Port goals are for a container capacity of one million 20-foot equivalent units (TEUs) in phase one and three million TEU’s by phase three.

“Through increased efforts with SHIP, we see great potential for the future of Sydney harbour,” said Chief Terry Paul of Membertou First Nation and CEO of Membertou Development Corp., in a press release. “In Membertou, we recognize the robust capacity of the port and believe its economic opportunities are vast.”

Bridging Finance is an Indigenous-led private Canadian company providing middle-market Canadian companies with alternative financing options.

“We see tremendous potential in this project and we think it has wide-reaching benefits to Membertou and all 13 Mi’kmaq communities, as well as for the entire province of Nova Scotia,” said David Sharpe, CEO of Bridging Finance and a member of the Mohawks of the Bay Quinte, in a press release. “We look forward to our partnership with SHIP.”

Membertou has an existing partnership through SHIP’s Novazone project, a planned logistics park of more than 1,250 acres next to the Novaporte site. All 13 Nova Scotia Mi’kmaq communities are also major shareholders of Novazone. Future plans are for Membertou to become a major equity player in SHIP and Novaporte — while remaining invested in Novazone.

Click here to the full article

TORONTO, Jan. 3, 2020 – Bridging Finance Inc. (“Bridging Finance“) is pleased to recognize the recent anniversaries of the launch of the Bridging Income Fund (November/2013) and the Bridging Mid-Market Debt Fund (November/2017). Both funds have delivered consistent positive returns on a monthly basis to investors seeking uncorrelated investments to traditional asset classes. “We are happy with the performance of our two flagship funds and look forward to continuing this trend as we see a lot of opportunity in the private debt sector” said Bridging Finance CEO, David Sharpe. Since its inception, the Bridging Income Fund has had a net return to investors of 8.69% (Class F, LP) and the Bridging Mid-Market Debt Fund, 8.77% (Class F, LP).

Bridging Finance also recently launched two new funds in 2019: The Bridging Indigenous Impact Fund and the Bridging Fern Alternative Credit Fund both aiming to capitalize on specific areas of growth within the private debt space.

About Bridging Finance Inc.

Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately $1.7 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts. For more information, please visit bridgingfinance.ca.

Please visit the offering memorandum of the Funds for any further information. Performance of the fund is not guaranteed and past performance is not indicative of any future performance.

For further information on Bridging Finance Inc.:
David Sharpe, LLB, LLM, MBA, Chief Executive Officer, Bridging Finance Inc.,
C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Ian Baele, Senior Vice President, Sales, Bridging Finance Inc.,
C: (416) 937-7641, ibaele@bridgingfinance.ca

Link to full article

Law’95 alumnus and donor David Sharpe with Indigenous Recruitment and Support Coordinator Ann Deer, former Dean Bill Flanagan, and new Dean Mark Walters at the Celebrate Queen’s Law in Toronto alumni reception, where the Chief Don Maracle Reconciliation/Indigenous Knowledge Fund gift was announced. (Photo by Rai Allen)
A gift from David Sharpe, Law’95, will bring a highly respected Indigenous scholar to Queen’s to lead a new program to promote reconciliation and Indigenous cultures on campus.

Sharpe, a member of the Mohawks of the Bay of Quinte, made a $250,000 donation to fund the Indigenous Knowledge Initiative, a three-year program that will integrate Aboriginal knowledge and wisdom into the academic environment and develop connections between Indigenous and non-Indigenous scholars.

The donation helps support the efforts of Queen’s Truth and Reconciliation Task Force, which outlines 25 recommendations for sustained institutional change to create a more welcoming environment for Indigenous students, staff and faculty.

“Queen’s is doing much more for the Indigenous community than when I was a student (in the 1990s), but there is still more to be done,” says Sharpe.

The gift enables Queen’s to bring Indigenous scholar Professor Mark Dockstator to campus this fall to lead the Indigenous Knowledge Initiative. Dockstator is a member of the Oneida Nation of the Thames, and was the first person from a First Nation to graduate with a doctorate in law. He recently completed a five-year term as president of First Nations University of Canada in Regina, Sask., that saw the school reach record levels of student enrolment. Sharpe would like to see that success at Queen’s.

“I want more Indigenous students to come to Queen’s and be able to embrace their culture,” says Sharpe. “Mark Dockstator is the perfect person to bring the Queen’s and Indigenous communities closer together. He is very familiar with both the academic and Indigenous worlds.”

Exactly how the Indigenous Knowledge Initiative will bring the two communities closer together will be decided by Dockstator through a year-long consultation process with elders, Indigenous faculty and students, and administrative leaders. The following two years will see the recommended programs launched and refined.

Sharpe believes access to post-secondary education is key to helping Aboriginal students and communities. His Queen’s Law degree, along with an MBA from Richard Ivey School of Business and a Master of Laws from Osgoode, led to a successful career on Bay Street in the financial services industry. He is currently the CEO of Bridging Finance Inc., one of the few alternative financing companies in Canada that fund First Nations and Inuit infrastructure projects.

“I have an opportunity to make a difference, and the only way I know how to do that is through education and economic development,” says Sharpe.

The Indigenous Knowledge Initiative is supported by the Chief R. Donald Maracle Reconciliation/Indigenous Knowledge Fund, which Sharpe established in honour of Don Maracle, the long-time chief of the Mohawks of the Bay of Quinte.

The university is making its campus more welcoming to the Indigenous community by implementing the Queen’s Truth and Reconciliation Task Force recommendations. A 2018 progress report highlights many actions taken, including doubling the size of the Four Directions Indigenous Student Centre to meet the demands of a growing Indigenous community and installing a permanent Indigenous art display in the Queen’s Law atrium to honour both Canada’s Indigenous legal traditions and the principals of reconciliation.

By Mike Onesi

Full article

For any questions please contact us at:
Ian Baele
Senior VP, Sales
P: 416-640-8965
E: ibaele@bridgingfinance.ca

Bridging Finance Inc. (“Bridging”) is pleased to announce a successful start to the 2019 fiscal year, having provided over $220MM in new commitments across Canada.

In addition to these commitments, Bridging has recently expanded its offering with the launch of two additional products:

The Bridging Indigenous Impact Fund, which launched April 2, 2019, is a socially responsible fund providing support for the economic development of Indigenous communities and projects. The fund’s main investment objective is to provide capital to support Indigenous initiatives including Indigenous enterprises, infrastructure projects, and to communities directly, in order to maintain, create and enhance a thriving and sustainable economy for Indigenous peoples and communities.

Additionally, the Bridging Fern Alternative Credit Fund, which launched June 1, 2019, is a ‘fund of funds’ and intends to invest in a portfolio consisting of securities of specially selected other investment funds and alternative investment vehicles that employ alternative credit investment strategies.

The addition of these products will complement Bridging’s existing offering and will support the growth of Bridging as a preeminent private debt lender. A sample of deals completed in 2019 can be accessed below.

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Ontario is granting eight licenses for cannabis retail to First Nations communities. David Sharpe, CEO of Bridging Finance, joined BNN Bloomberg to discuss.

Bridging Finance Inc. (“Bridging Finance“) is pleased to announce that it has become a signatory to the United Nations – supported Principles for Responsible Investment (“PRI“). The PRI is a global initiative for the encouragement of social, environmental, and governance factors at all levels of investment decisions and ownership practices.

“Having recently launched the Bridging Indigenous Impact Fund, becoming a signatory to the PRI was a natural progression in the historical development of Bridging Finance” said David Sharpe, Chief Executive Officer of Bridging Finance. “Bridging is proud to adopt principles that align with our current investment mandates of creating wealth for Indigenous communities by providing capital for local economic development, job creation and long-term sustainable benefits for these communities” added Mr. Sharpe.

About Bridging Finance Inc.
Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately $1.5 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts. For more information, please visit bridgingfinance.ca.

For further information: Bridging Finance Inc.: David Sharpe, LLB, LLM, MBA, Chief Executive Officer, Bridging Finance Inc., C: (647) 981-5658, dsharpe@bridgingfinance.ca

Bridging Finance Inc., one of North America’s leading infrastructure firms for First Nations and Inuit, is working with Peguis First Nation to bring safe Cannabis retail options to First Nation communities. The two organizations have engaged POPCANN to ensure that the sale of Cannabis is done in a secure manner that protects First Nation youth and eliminates black market product.

“Cannabis was legalized across Canada close to a year ago, but access to safe, legal product through retail has until now been limited to major urban centres, leaving rural communities at a disadvantage,” said David Sharpe, CEO of Bridging Finance Inc. “We’ve worked closely with Chief Hudson to ensure we’re doing something for the good of First Nation communities, and POPCANN is a great partner to help facilitate this endeavor.” To date, Bridging has allocated over $300 million to finance renewable energy, housing, grocery stores and fisheries to Indigenous communities.

The partnership aims to provide safe, controlled Cannabis retail stores that are compliant with both community and regionally imposed regulations, while at the same time providing elected Chief and Bands control over the sale of Cannabis within their communities.

The collaboration will also enable the three entities to work with various levels of government to establish dialogue and collaboration with regulators concerning cannabis related activities and policies within indigenous communities.

“First Nation communities do not have the same commercial and retail infrastructure that are ubiquitous in larger cities, adding an additional challenge,” said Chief Hudson, elected Chief of Peguis First Nation. “POPCANN’s prefabricated Cannabis retail stores offer a turnkey solution that means fast and secure access to safe quality Cannabis in our communities and the eradication of black market product.”

The first stores are expected to be operational by fall, 2019.

About Peguis:

Located approximately 190 KM North of Winnipeg, Peguis First Nation is home to Manitoba’s largest First Nation population. In total, there are approximately 11,000 Peguis Band Members, which includes membership both on and off-reserve and comprising mainly of Ojibway and Cree descent.

About Bridging Finance Inc. 

Bridging Finance is a privately held Canadian company providing middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3,000,000to $50,000,000 and higher, are used by companies to address short-term needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts. Bridging Finance is the manager of the Bridging Income Fund LP and the Bridging Mid-Market Debt Fund LP, Bridging Infrastructure Fund LP, and Bridging Real Estate Lending Fund LP. Bridging Finance also offers portfolio management services for institutional and family office clients. Bridging Finance’s total assets under management are over $1.4 Billion.

About POPCANN

POPCANNs are the only prefabricated Cannabis retail stores available in the North American marketplace for both pop-up and permanent installations. POPCANN’s mission is to provide turn-key Cannabis retail stores that rapidly bring legal Cannabis to traditional and alternative destinations.

POPCANNs are made to solve problems for diverse Cannabis stakeholders, including government regulators and the general public. Modular designs enable POPCANN to bring legal Cannabis to northern cities, Indigenous communities, music festivals, and seasonal towns.

The POPCANN Corporation, headquartered in Toronto, Canada, was co-founded in 2019 by veteran media and technology entrepreneurs Michael Girgis and Jake Neiman.

Full article: link

Celebrate Queen’s Law is an annual high-water mark in the Queen’s Law social calendar, but there was even more than usual to look forward to at this year’s gala event in downtown Toronto. Alumni from across the country not only convened with classmates and connected with friends, but learned about exciting Indigenous and international initiatives, cheered on an outstanding young grad, paid tribute to the school’s longest-serving Dean, and welcomed his successor.

“Attending Toronto events gives me the opportunity to network with fellow alumni of all ages and backgrounds,” said Elisabeth van Rensburg, now a lawyer with TD Insurance. “As a Law’14 grad, it’s encouraging to see how many older alumni still support our alma mater and it makes me proud to also be a Queen’s Law grad. It is also very special to be able to attend Queen’s Law alumni events with my mother, Justice Katherine van Rensburg, Law’81, and these receptions are something that we both look forward to.”

Dean Bill Flanagan announced a new $250,000 gift to Queen’s by David Sharpe, Law’95, CEO of Bridging Finance Inc., Queen’s Law Dean’s Council Vice-Chair and a Queen’s Trustee, who was among the 150 attendees. Flanagan said, “David has been a wonderful partner for the law school and university – and for me personally – as we strive to respond to the calls to action in the Truth and Reconciliation Report.”

Sharpe’s latest significant gift has established the Chief R. Donald Maracle Reconciliation/Indigenous Knowledge Fund to support a three-year project at Queen’s that will be led by Professor Mark Dockstator, a highly respected Indigenous scholar and leader. The funds, Flanagan said, will be used “to increase awareness, understanding and appreciation of Indigenous Knowledge, exploring ways to integrate Indigenous concepts of knowledge, wisdom and ways of knowing and understanding into the academic environment of Queen’s.”

Joy Wakefield, Law’12, received the 2019 Dan Soberman Outstanding Young Alumni Award for her work in increasing access to law in northern Ontario. She’s a staff lawyer for Legal Aid Ontario in Thunder Bay and is seconded part-time to Nokiiwin Tribal Council, working with communities on the north shore of Lake Superior. “We have lots of challenges that are unique to smaller communities,” she said, “and I am proud to bring awareness to the successes and what we are pioneering there.”

Event host Sheila Murray, Law’82 (Com’79), President and General Counsel of CI Financial, addressed the crowd in her company’s lounge in Maple Leaf Square. As Chair of the Dean’s Council, she spoke of the leadership and legacy of Dean Flanagan, whose third and final term comes to a close on June 30. “Bill’s been out there selling this university and raising our profile internationally,” she said. “I know Queen’s is one of the top law schools in the country and he made sure our graduates are extraordinarily well regarded.”

To mark his 14-year tenure, she told how a campaign was launched to endow the new Dean Bill Flanagan International Studies Award. “We started with ambitious target of $500,000,” she said. “We surpassed it and we are still raising money!” The awards will be available to students selected to attend one of the International Law Programs at the Bader International Study Centre (the “Castle”) and to those participating in an international internship.

Liz Guilbault, Law’19, spoke about the dean from a recent student perspective. “It was always clear that Bill’s top priority has been the student experience,” she said. “He prioritizes the inclusion of every student above all else.”

Murray presented Flanagan with a commemorative book containing reflections of his colleagues, staff, students and alumni.

“Palpable at the celebration was the recognition by all in attendance that this chapter has been a truly remarkable one for the law school,” said guest Henry Dinsdale, Law’87 (Artsci’84), a partner with Hicks Morley Hamilton Stewart Storie LLP. “The heartfelt gratitude for Bill’s many accomplishments and the growth of the school under his stewardship was on full display. Cha Gheill!”

Dean Flanagan introduced the school’s incoming Dean, Mark Walters, Law’89. “I am thrilled to be handing the reins over to Mark, a highly talented scholar and teacher who cares deeply about the school.”
“I’m absolutely thrilled to be the next dean of this law school,” Walters told the crowd. “It’s such an honour and such a privilege.”

He spoke of how he knew all of his predecessors, starting with Bill Lederman, who was one of his first-year teachers in 1986. “Each of the deans has left an important mark on the law school … The school has a really meaningful role to play as an institution in Canadian public life,” Walters continued. “Bill, you’ve left us with brilliant scholars and teachers to be able to make
that contribution. I am so excited to be returning to the best law school in Canada!”

By Lisa Graham

Full article

By Paula Sambo (Bloomberg)

Bridging Finance Inc. is launching what it says is Canada’s first fund of funds for alternative credit — tapping into the swelling market for private debt in the
country.

The asset manager is planning to raise about C$500 million ($372 million) over the next 12 months, adding to its C$1.4 billion in assets under management, Chief Executive Officer David Sharpe said. Sharpe, a status member of the Mohawks of the Bay of Quinte, launched a private debt fund last month dedicated to financing Indigenous economic development which he also plans to expand to C$500 million.

The fund of funds, which is expected to be launched in June by Bridging and its affiliate Fern Capital Partners, will invest in funds focused on private credit, distressed debt, senior loans, along with public debt such as short-term Treasuries and preferred shares. Longer term, it plans to invest in
infrastructure funds.

It will cater to clients willing to “take baby steps into the private-debt world,” said Wilson Tow, a partner at Fern Capital Partners and an expert on doing due diligence on hedge funds.

Growing Market

Toronto-based Bridging is one of several money managers deepening their push into private credit, where businesses bypass the capital markets for finance. Global direct lending funds are raising money at a record-setting pace, collecting
$19.4 billion so far this year as investors pile into the market for private credit, according to London-based research firm Preqin.

In Canada, private debt under management totaled $10.4 billion at the end of June, and $600 million was raised this year, also according to Preqin. Toronto-based Ninepoint Partners launched a private debt fund last month that will focus on investing in U.S. middle-market companies. Other big players in the sector include Penfund and Northleaf Capital Partners.

Sharpe’s Bridging has already lent C$300 million to finance renewable energy, housing, grocery stores and fisheries to Indigenous communities, C$30 million of which was done through the new fund.

“We’ve never had a default on an Indigenous loan,” said Sharpe in his Toronto office. “And demand for direct credit has increased greatly since we started seven years ago.”

The fund of funds will charge 40 basis points on top of the fees of the underlying funds — which range from 1% to 1.5% for management and 15% to 20% for performance fees — and have monthly liquidity.

Regulatory Scrutiny

For now, Bridging’s new vehicle will invest in funds from Algonquin Capital Corp., Lawrence Park Asset Management, 1832 Asset Management , Next Edge Capital Corp., Onex Corp., and Bridging Finance.

Bridging’s other direct lending funds invest in collateral-based bridging loans, inventory and accounts-receivables financing. Returns hover around 8.5 percent, according to Sharpe. It charges an average of 12 percent in its loans. The firm has 36 people and plans to grow to 40 by year-end.

The growth in private debt has drawn attention from regulators. A report from the Federal Reserve and other supervisory agencies in January pointed out the increased participation of non-bank firms in direct lending in the U.S., pushing more risk out of the banking system and into the shadow banking world, beyond their purview.

In Canada, while the shadow banking sector has grown steadily since the global financial crisis in 2008, the overall financial system has expanded even faster, keeping risks under control, the Bank of Canada said in a report published in March.

The central bank estimated the sector at close to C$1.5 trillion at the end of 2017, up about 30% from the end of 2015.

FRED LUM/THE GLOBE AND MAIL

A new fund dedicated to financing Indigenous economic development offers Canadians the rare opportunity to invest in on-reserve projects through a private asset manager.

Launched this month, the Indigenous Impact Fund is the first of its kind. Run by Bridging Finance Inc., a Toronto-based money manager that specializes in debt investments and manages $1.3-billion, the fund is the brainchild of an Indigenous chief executive. The company projects 8-per-cent annual returns.

David Sharpe, the chief executive of Bridging Finance, is a status Indian and a member of the Mohawks of the Bay of Quinte. After growing up on and off his reserve, he has spent the past two decades in the investment industry. “I feel as comfortable in a sweat lodge as I do in a boardroom on Bay Street,” Mr. Sharpe said in an interview with The Globe and Mail.

Mr. Sharpe runs Bridging Finance with his wife, Natasha Sharpe, who is the company’s chief investment officer and was formerly the chief credit officer for Sun Life Financial. Ms. Sharpe also spent more than a decade assessing credit risk at Bank of Montreal, including for Indigenous projects.

Their fund is launching at a time when Indigenous development opportunities are becoming more common, with many communities debating investing in large Canadian infrastructure projects. In March, a First Nations-led group said it is putting together a bid to buy a 51-per-cent stake in Ottawa’s Trans Mountain oil pipeline. Last week, a group representing 20 elected First Nation councils said it is looking to buy a 22.5-per-cent stake in TransCanada Corp.’s Coastal GasLink pipeline project in British Columbia.

The projects that the Impact Fund will help develop are smaller in scale − yet are necessary for everyday life. Examples of developments Bridging Finance have participated in over the past five years include a grocery store and a pharmacy, and the new fund will pursue the same types of opportunities.

Despite reconciliation efforts, the development of economic essentials on reserves remains muted. “It’s very difficult to do on-reserve lending in a traditional format,” Ms. Sharpe said. When financing the construction of a retail plaza, for instance, the land is often used as collateral. “With on-reserve lending, you can’t do that, which makes it extremely challenging for economic development.” These rules are written into the Indian Act.

Technically speaking, the federal government can provide Indigenous communities with upfront capital for these projects, or offer other financing solutions. But that’s proven to be more of a theoretical exercise. “If you wait for the federal government,” Ms. Sharpe said, “you’ll be waiting a very, very long time.”

In the private sector, large Canadian banks do look to participate in these projects, but they have their own credit-quality rules that limit when they can be involved. Banks tend to shun early stage developments, particularly construction projects, because there is no cash flow being generated from the asset.

The Impact Fund, then, is designed to provide a bridge to the banks − hence the company name Bridging Finance. It will provide early stage funding, and then effectively sell the loan to a major bank.

In fact, the company is often asked by the banks to get deals up and running. “Most of our referrals of business come from a bank who say, ‘I like this deal, I want to do this deal, but I can’t do it for, say, two to three quarters,’ ” Ms. Sharpe said. Bridging Finance is able to act much quicker than a bank, sometimes securing a deal in 30 days. “We can do what they cannot.”

Two completed projects illustrate the types of opportunities the Impact Fund will pursue. In 2014, Mr. Sharpe visited the chief and council of the Elsipogtog First Nation, who live on a small reserve north of Moncton, and learned that the community had no grocery store or pharmacy. Bridging Finance funded the development of a Loblaw’s and a Pharmasave, which now employ roughly 50 people.

The company has also financed an Inuit collective’s effort to buy a $23-million icebreaker that was used to fish shrimp in the North Sea. The vessel was being sold in Norway, and the deal had to close in 30 days, creating logistical hurdles.

Although the fund’s projected 8-per-cent return looks juicy, its anticipated payout is a reflection of the inherent project risks. In finance, a higher yield is generally a result of higher risk.

Bridging Finance relies on its credit roots to assess the risk potential, and the company looks to finance projects that will be attractive to banks once they are generating cash. That way, it isn’t lending money to individual projects for extended periods of time − the company will be “taken out” by bigger financial institutions. “We’ve never had a loss, nor a default, on First Nations lending,” Mr. Sharpe said.

As an extra safety measure, the fund is only available to accredited investors, and for individuals that means having at least $1-million in investable assets. This is a common feature of private funds.

Until recently, pitching Canadians on such an investment would have been difficult. “A lot of people read about First Nations and Indigenous people, and many people haven’t been on a reserve,” Mr. Sharpe said. “There’s a natural fear of the unknown.” Lately, however, smaller pension plans and high-net-worth investors have shown more interest in ethical investing.

And with a pipeline of deals worth between $400-million and $500-million, Bridging Finance sees the potential for other asset managers to enter this arena and meet the rising demand.

“This is not charity,” Mr. Sharpe said. “This is a strong business.”

Link to the full article

Bridging Finance Inc. (“Bridging Finance” or the “Company”) is pleased to announce the appointment of Tanuja Patel as Senior Vice President of Investor and Dealer Relations.

Tanuja is a very accomplished finance professional who brings over 25 years of experience in wealth management with her to Bridging Finance. Most recently, Tanuja held the role of Vice President of National Accounts at CI Financial where she was responsible for building and fostering partnership relationships between CI Financial and the MFDA and IIROC dealer community.

“We are very happy to have Tanuja join our team as we continue to grow and launch new strategic and unique products. Tanuja’s extensive experience in our industry will be beneficial as we continue to expand” said David Sharpe, CEO of Bridging Finance.

“I am thrilled to be joining the team at Bridging Finance and looking forward to applying my experience to assist in the growth of the company”, added Ms. Patel.

About Bridging Finance Inc.
Bridging Finance is a privately held Canadian company providing middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3,000,000to $50,000,000 and higher, are used by companies to address short-term needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts. Bridging Finance is the manager of the Bridging Income Fund LP and the Bridging Mid-Market Debt Fund LP, Bridging Infrastructure Fund LP, and Bridging Real Estate Lending Fund LP. Bridging Finance also offers portfolio management services for institutional and family office clients. Bridging Finance’s total assets under management are over $1.3 billion.

For further information: David Sharpe, LLB, LLM, MBA, Chief Executive Officer, Bridging Finance Inc., T: (416) 642-7572 | C: (647) 981-5658, dsharpe@bridgingfinance.ca

Queen’s Law students, faculty and community members packed a large campus classroom on February 2 for the school’s first-ever “Reconciliation on Bay Street” conference. Organized by the Faculty, the Queen’s Indigenous Law Students’ Alliance and Corporate Law Club, the event attracted Indigenous and non-Indigenous peoples alike for wide-ranging discussions with lawyers, business leaders and professors on economic reconciliation and entrepreneurship.

The day began with a welcome from Elder Fred McGregor, who provided some interesting perspective on the topics for the day. He then introduced the screening of the 2018 documentary Reconciliation on Bay Street, which showcased the resilience of Canada’s First Nations communities and their success in legal and corporate decision-making in Canada.

A Q&A then followed with documentary filmmaker Andrée Cazabon and two key figures in the film: Chief Duke Peltier of the Wiikwemkoong Unceded Territory, and Bridging Finance Inc. CEO David Sharpe, Law’95.

Cazabon was compelled to create a film on economic reconciliation where none existed before, and was inspired by the largely untold success stories of Indigenous peoples in corporate Canada. “This film is shaped by the business leaders I met at the 20-year anniversary celebration of First Nations University,” she said. “It is such an honour to showcase the vision and direction of our Indigenous peoples.”

Chief Peltier emphasized the essential role of Indigenous peoples in bringing their own issues to the forefront. “Our individual responsibility as First Nations peoples is to walk into any environment and be proud of who we are,” he stressed. “Today’s environment offers many supports to this end. You no longer need to be the student who keeps his or her head down in the far back corner. You have a responsibility to your ancestors to be the best you can be.”

Sharpe – who is also Vice-Chair of the Queen’s Law Dean’s Council and a member of the Queen’s Board of Trustees – said that in his view, corporate Canada has been receptive to the needs of First Nations people and is impressed by leaders who commit to making a difference. “We’re where we are because of what the Chief said,” stated Sharpe. “Now, we can talk about truth and reconciliation like never before. When I played this documentary for my colleagues on Bay Street in Toronto, it was a sold-out room. Many said they heard of residential schools, but wanted to know more. Leaders like Dean Bill Flanagan – who had said ‘I want to understand, and I want to promote Indigenous people coming to the law school and business school,’ – are making a real difference. We’re building momentum; it’s very grassroots, but it’s tangible.”

Following the Q&A, event attendees congregated in the student lounge for lunch and collaborated on an artwork piece representing a Two-Row Wampum Belt, in commemoration of the 1613 treaty between the Dutch and the Haudenosaunee. Attendees were then invited to the afternoon’s first workshop, “We Are All Treaty People,” co-chaired by Sharpe and Chief Peltier.

Sharpe said that while First Nations have been largely successful at establishing their land claims in the Canadian court system, he vastly prefers negotiating with the federal government as opposed to litigation. “If you are the government, does it make sense for you to spend taxpayers’ money to deny Indigenous peoples their rights?” he asked. “No. Litigation wastes time and money, while real people lack clean water and housing. These are real people with real families. Let’s stop the litigation, honour the treaties and engage in real conversations.”Chief Peltier’s arguments focused on how treaties are often misunderstood, in terms of their significance once signed and who became responsible for what once implemented. “Society must demand that treaties come to the forefront of government operations and diplomacy,” he said. “These are agreements between nations. When I was elected Chief in 2012, it became my mission to figure out who the Crown was. But the Crown is essentially a concept, not any one person. Coming to an understanding on treaties is very complex and it must get resolved. We can only do that by coming together.”

The second session, “Investing in Aboriginal Communities and Businesses,” was moderated by Professor Tina Dacin, the Stephen J.R. Smith Chair of Strategy & Organizational Behaviour and the Director of the Smith School of Business Centre for Social Impact, and featured guest speakers Cherie Brant, a partner at Dickinson Wright, and Gail Henderson, a professor at Queen’s Law.

Dacin advocated for First Nations investment as a necessary step toward creating equal opportunities for everyone in society. “Many young people dream of pursuing entrepreneurship,” she emphasized. “But many, particularly in Indigenous communities, don’t have the privilege of walking into the bank and asking for money to make that happen. Moving forward, we need to engage on this issue in an open, caring way.”

Brant promoted the inherent value in empowering Indigenous communities, by helping them enter commercial transactions and build the necessary confidence to invest their own capital in new businesses. “It’s so critical that corporate Canada assists First Nations, and helps them build the courage to address the systemic legal barriers they face,” she noted. “The provisions of the Indian Act prevent day-to-day banking – which prevents Indigenous communities from accessing wealth and capital. When corporate Canada hears about these barriers, they’re shocked and want to help remove them. They are uniquely placed to help finance First Nations projects and light that first spark for successful Indigenous entrepreneurship.”

Henderson elaborated on the key connections between social entrepreneurship and Indigenous entrepreneurship, as illustrated in the First Nations enterprises showcased in the Reconciliation documentary. “These enterprises are engaging with markets, such as the fishing and tourism industries, guided by a connection to the land, for the social goal of keeping people living and working in their own communities.”

The third and final panel, “Thoughts on Duty to Consult,” was to be led by Sara Mainville, Law’04, a partner at OKT and Ryan Lax, a senior associate at Torys. Unfortunately, they were delayed on the disabled train. In their stead, the panel moderator and Queen’s Law sessional instructor Hugo Choquette, Law’05, LLM’10, PhD’16, and audience Justin Connidis, Law’79, a Queen’s Law sessional instructor and counsel to Dickinson Wright, led the discussion.

Choquette stressed that despite their high-profile land claim victories at the Supreme Court of Canada, Indigenous communities remain at a structural disadvantage in the courts. “Today, in Canadian common law, using and occupying your traditional territory for thousands of years means nothing if you can’t prove it,” he said. “That sets Indigenous groups back, because they always bear the burden of proving and asserting their rights in court. Placing that burden squarely back on Indigenous communities to challenge government action is a costly thing, and they often don’t have the necessary financial resources.”

Choquette and Connidis then discussed the difference between “consultation and accommodation” under Canadian jurisprudence and the obligation set out in the TRC calls to action and the United Nations Declaration on the Rights of Indigenous peoples for governments and businesses to obtain free, prior and informed consent (FPIC) from indigenous peoples before undertaking large-scale energy, extraction and other projects affecting lands subject to indigenous claims or affecting local communities.

“The current federal government committed to implementing all 94 TRC calls to action,” Connidis stated. “But since then, their actions would suggest they had not read all of the TRC calls to action when making this commitment since they have not honoured FPIC.” Connidis discussed the fact that businesses are used to obtaining FPIC in their day to day commercial dealings since FPIC is the underlying concept of contract law and determining fair market value. He advised that businesses would generally be much better off to agree with indigenous groups that they would not proceed without FPIC, rather than to argue and litigate over whether there is a right to FPIC. “Such an agreement would create trust between parties essential to agree to the long term contracts and partnerships essential for the development of resources. This is a far better result for businesses then years of litigation to assert a unilateral right to proceed. Even if successful, litigating businesses would face a myriad of non-legal processes designed to delay or prevent their project, such as lawful protest, civil disobedience, and market boycotts. Socially responsible companies recognize that they will be more successful at developing resources when they honour their Indigenous partnerships and FPIC. Government should not be afraid to do the same.”

To conclude the day’s activities, students and panelists attended dinner at the Holiday Inn Kingston Waterfront. Professor Mark S. Dockstator, President of the First Nations University of Canada, delivered the keynote address on the theme of inspiring future leaders, both personally and professionally, on ways they can contribute toward reconciliation.

Dockstator offered various ways, ideas and concepts to illustrate how Canadian universities can better “Indigenize” the work of their institutions. Specifically, he discussed the ways in which First Nations University of Canada is utilizing academic courses to bring students back to the land, stressing the importance of land based education in the development educational pedagogies for all students. He further highlighted how the university consults with and includes Elders and traditional knowledge holders, including the integration of Ceremony and traditional protocols, to infuse the university with the “spirit” of Indigenous knowledge as it is passed down to students. Stitched throughout his presentation, President Dockstator stressed the importance of artistic expression, the land, Elder knowledge, and most importantly, the use of traditional languages in reconnecting students to Indigenous education.

By Justin Murphy

Full article

For any questions please contact us at:
Ian Baele
Senior VP, Sales
P: 416-640-8965
E: ibaele@bridgingfinance.ca

Bridging Finance would like to sincerely thank all of our partners for making 2018 a banner year!

Highlights include:

• $480 million funded in new loans in 2018
• Robust pipeline of $150 million in deals currently ready to be funded
• No loan losses in 2018 and Since Inception
• As at the end of November, the net return for the Bridging Income Fund (class F) was 7.88% and for the Bridging Mid-Market Debt Fund was 8.32%
• Bridging Finance currently manages over $1.1 billion in the Private Debt space for retail and institutional clients
• Very positive outlook for 2019 and non-correlated to volatile public markets

Thank you from all of us at Bridging Finance and we look forward to a fantastic 2019!

About Bridging Finance Inc.

Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately $1.1 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.

Please read the Offering Memorandum and financial statements before investing. Past performance may not be repeated.

Rama First Nation and GrowForce Holdings Inc. announced a joint venture to bring cannabis production to Rama and the surrounding region. The announcement coincides with the legalization of recreational cannabis in Canada. The partnership’s first major project will be the construction of a large-scale cannabis production facility which will create at least 100 permanent jobs for Rama and area residents.

The Chippewas of Rama First Nation (Rama) has been known as ‘the gathering place’, where travellers journeyed for many reasons. Today, it is home to Casino Rama, a tourism attraction that brings thousands of visitors to the area daily for gaming, shows, conventions, shopping and fine dining.

Guided by a long-term community visioning which has built a sustainable economic foundation, this proud, progressive First Nation community provides members and area residents with employment close to home and services for family living and recreation.

“We chose to work with GrowForce because of their strong financial backing from Bridging Finance, an Indigenous-led company, along with industry-leading safe cannabis product management practices,” said Chief Rodney Noganosh for Rama First Nation. “This joint venture generates a long-term positive economic impact for our community in an emerging market and adds significant jobs in the region.”

GrowForce Holdings Inc. is a vertically integrated international cannabis platform with a portfolio which includes five production facilities in various stages of completion across Manitoba, Ontario and Nova Scotia. GrowForce is licensed by Heath Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR) and plans to continue to expand across Canada through partnerships with various Indigenous Nations for large-scale cannabis cultivation, extraction, and retail.

“Partnering with Indigenous communities is core to our business plan and growth strategy,” said Rishi Gautam, Chairman and CEO of GrowForce. “We are excited about our partnership with Rama First Nation and look forward to bringing additional economic opportunities to the community through the cultivation, distribution and retail sale of high quality cannabis products.”

GrowForce’s cannabis facilities are managed by MJardin Group, a highly-experienced cannabis management company. The joint venture will utilize MJardin’s services including their proprietary training programs and cannabis management software.

David Sharpe, CEO of Bridging Finance, an Indigenous led company, has been a key advisor, bringing financial backing and supporting GrowForce’s execution of its Indigenous joint ventures. Through the strategic partnership with Bridging Finance and the establishment of the Bridging Infrastructure Fund, GrowForce has unique access to growth capital for continued infrastructure investments and consolidation of strong operational cannabis assets.

About GrowForce

GrowForce is a geographically diversified and vertically integrated cannabis platform operating within Health Canada’s Cannabis Act (formerly known as the Access to Cannabis for Medical Purposes Regulations). GrowForce owns a majority interest in flagship cannabis facilities with strategic partnerships for turnkey operations, proprietary software and training, and project financing. GrowForce’s flagship facilities are operated by MJardin Group, North America’s largest turnkey operator of legal cannabis facilities, and financed by Bridging Finance Inc., Canada’s leading provider of private credit. For more information, please visit www.growforce.ca.

About RAMA First Nation

RAMA First Nation is home to Casino Rama and many flourishing community enterprises including two Tim Horton’s franchises, a Shell Station, the Gathering Place stores, Black River Wilderness Park, the Ojibway Bay Marina and property leasing. Rama’s commitment to community and economic development growth remain focal points for the future. With long standing local and regional relationships, the Chippewas of Rama First Nation is one of the country’s leading First Nation communities. For more information, please visit www.ramafirstnation.ca.

Full article: click here

Cannabis Elevated is a podcast, offering insight into the evolving cannabis industry directly from the industry leaders. Each episode delves into the realities of operating a successful cannabis business.

Episode 7 goes in deep into how cannabis is lending Canada a massive economic boost, largely due to the joint efforts of MJardin and Bridging Finance. Discover how these companies are transforming Canada’s indigenous communities from David Sharpe, CEO of Bridging Finance, and Rishi Gautam, Executive Chairman of MJardin and Chairman & CEO of Growforce.

Bridging Finance Inc. (“Bridging Finance“) and Ninepoint Partners LP (“Ninepoint“) are pleased to announce the completion of the previously disclosed acquisition by Bridging Finance of Ninepoint’s rights and obligations under the existing co-management agreements for the funds known as the “Ninepoint Bridging Income Fund LP” (the “Partnership“) and the “Ninepoint Bridging Income RSP Fund” (the “Trust,” collectively with the Partnership, the “Fund“), and Ninepoint’s ownership interest in SB Fund GP Inc., which is the general partner of the Partnership (the “Transaction“).

“With the strong support of the unitholders of the Trust, we are thrilled to announce the successful closing of the Transaction and the appointment of Bridging Finance as the sole manager of the Fund,” said David Sharpe, Chief Executive Officer of Bridging Finance. “This represents a great milestone for the continued growth of Bridging Finance. We look forward to further success for the fund as one of the preeminent private debt funds in Canada,” added David Sharpe.

Advisors:
In connection with the Transaction, Raymond James Ltd. and Wildeboer Dellelce LLP acted as exclusive financial advisor and legal counsel to Bridging Finance, while INFOR Financial Inc. and Norton Rose Fulbright Canada LLP acted as exclusive financial advisor and legal counsel to Ninepoint.

About Bridging Finance Inc.
Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately $1 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.

About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $3 billion in assets under management. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets & Alternative Income.

SOURCE Bridging Finance Inc.

For further information: for further information on Bridging Finance Inc., please visit us at www.bridgingfinance.ca or please contact us at (416) 640-8965 or (888) 920-9598 or by email at dsharpe@bridgingfinance.ca or ibaele@bridgingfinance.ca; for more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.

Bridging Finance Inc. (“Bridging Finance“) and Ninepoint Partners LP (“Ninepoint“) are pleased to announce that they have entered into a definitive asset purchase agreement (the “Purchase Agreement“) whereby Bridging Finance will purchase from Ninepoint certain assets, including Ninepoint’s rights and obligations under the existing co-management agreements for the funds known as the “Ninepoint Bridging Income Fund LP” (the “Partnership”) and the “Ninepoint Bridging Income RSP Fund” (the “Trust,” collectively with the Partnership, the “Fund”), and Ninepoint’s ownership interest in SB Fund GP Inc. (the “GP”), which is the general partner of the Partnership (the “Transaction“).

Currently, Bridging Finance and Ninepoint are co-managers of the Fund and co-owners of the GP. Bridging Finance, for its part, possesses full discretionary authority of the Fund’s portfolio management and shares the responsibility to manage the business and affairs of the Funds with Ninepoint in accordance with the co-management agreements. Upon the closing of the Transaction, Bridging Finance will become the sole manager of the Fund and the sole shareholder of the GP.

“We are extremely pleased to announce that we have entered into this transaction. Bridging Finance is currently experiencing significant corporate growth in all aspects of its business and this transaction represents a great milestone for the continued success of Bridging Finance. As it relates to the day-to-day operations of the Fund, investors and advisors alike should not see any changes relating to the transition in management of the Fund and we look forward to the continued success of the Fund which saw its inception nearly five (5) years ago” said David Sharpe, Chief Executive Officer of Bridging Finance. “Ninepoint has been a great partner of the Fund and we wish them all of the best in their future endeavors” added Mr. Sharpe.

“We are pleased with the consistent positive monthly performance that Bridging Finance has provided unitholders since we partnered with them five years ago” said John Wilson, Managing Partner of Ninepoint Partners. “It is great to see Bridging’s investment team and capabilities evolve over the years.  Given they now have other investment products, this transaction is a natural evolution to both of our businesses. We wish them continued success” added James Fox, Managing Partner of Ninepoint.

Advisors:
In connection with the Transaction, Raymond James Ltd. and Wildeboer Dellelce LLP are respectively acting as exclusive financial advisor and legal counsel to Bridging Finance, while INFOR Financial Inc. and Norton Rose Fulbright Canada LLP are respectively acting as exclusive financial advisor and legal counsel to Ninepoint.

Notice to Unitholders
The Transaction is expected to close on or about October 15, 2018, subject to the satisfaction of customary conditions, including unitholder approval for the change of manager pursuant to the trust agreement governing the Trust (the “Trust Agreement“). Unitholders will be given an information circular promptly detailing the events of the Transaction and outlining their voting rights pursuant to the Trust Agreement.

About Bridging Finance Inc.
Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately $1 billion of assets. Bridging Finance provides middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.

About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $3 billion in assets under management. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets & Alternative Income.

Forward-Looking Statements:
Forward-looking statements contained herein are made as of the date of this press release and the company disclaims any obligation to update any forward-looking statements to reflect new information, future events or results or otherwise, except as required by applicable laws.

For further information: on Bridging Finance Inc., please visit us at www.bridgingfinance.ca or please contact us at (416) 640-8965 or (888) 920-9598 or by email at dsharpe@bridgingfinance.ca or ibaele@bridgingfinance.ca. For more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com

Bridging Finance Inc. (« Bridging Finance ») et Ninepoint Partners LP (« Ninepoint ») sont heureuses d’annoncer qu’elles ont conclu une convention d’achat d’actifs définitive (la « convention d’achat ») aux termes de laquelle Bridging Finance achètera de Ninepoint certains actifs, notamment les droits et obligations de Ninepoint aux termes des conventions de cogestion existantes à l’égard des fonds connus sous les noms de « Ninepoint Bridging Income Fund LP » (la « Société en commandite ») et de « Ninepoint Bridging Income RSP Fund » (la « Fiducie » et, avec la Société en commandite, le « Fonds »), ainsi que la participation de Ninepoint dans SB Fund GP Inc. (le « Commandité »), qui est le commandité de la Société en commandite (l’« opération »).

À l’heure actuelle, Bridging Finance et Ninepoint sont les cogestionnaires du Fonds et les copropriétaires du Commandité. Bridging Finance, de son côté, a les pleins pouvoirs discrétionnaires pour la gestion de portefeuille du Fonds et partage la responsabilité de gérer les activités et affaires des Fonds avec Ninepoint conformément aux conventions de cogestion. À la clôture de l’opération, Bridging Finance deviendra l’unique gestionnaire du Fonds et l’unique actionnaire du Commandité.

« Nous sommes ravis d’annoncer que nous avons conclu cette opération. Bridging Finance enregistre actuellement une croissance importante de son entreprise dans tous les aspects de ses activités et cette opération représente une étape importante du succès continu de Bridging Finance. En ce qui a trait aux activités quotidiennes du Fonds, les investisseurs et les conseillers ne devraient pas constater de changement en raison de la transition des activités de gestion du Fonds et nous sommes optimistes quant au succès continu du Fonds, qui a été créé il y a près de cinq (5) ans », a affirmé David Sharpe, chef de la direction de Bridging Finance. « Ninepoint a été un partenaire précieux du Fonds et nous souhaitons à celle‑ci la meilleure des chances pour l’avenir », d’ajouter M. Sharpe.

« Nous sommes heureux du rendement mensuel positif stable que Bridging Finance a fourni aux porteurs de parts depuis que nous nous sommes associés à celle‑ci il y a cinq ans », a affirmé John Wilson, directeur général de Ninepoint Partners. « C’est avec plaisir que nous avons vu l’équipe de direction et les capacités de Bridging évoluer au fil des ans. Étant donné qu’elle possède désormais d’autres produits de placement, cette opération marque une évolution naturelle pour nos deux entreprises. Nous souhaitons un succès continu à Bridging Finance », a souligné James Fox, directeur général de Ninepoint.

Conseillers :

Dans le cadre de l’opération, Wildeboer Dellelce LLP et Raymond James Ltée agissent respectivement à titre de conseillers juridiques et de conseillers financiers exclusifs de Bridging Finance, tandis que Norton Rose Fulbright Canada S.E.N.C.R.L., s.r.l. et INFOR Financial Inc. agissent respectivement à titre de conseillers juridiques et de conseillers financiers exclusifs de Ninepoint.

Avis aux porteurs de parts

La clôture de l’opération devrait avoir lieu vers le 15 octobre 2018, sous réserve du respect de conditions usuelles, dont l’approbation des porteurs de parts à l’égard du changement de gestionnaire aux termes de la convention de fiducie régissant la Fiducie (la « convention de fiducie »). Les porteurs de parts recevront dans les plus brefs délais une circulaire d’information qui contient une description des événements prévus dans le cadre de l’opération et énonce leurs droits de vote aux termes de la convention de fiducie.

À propos de Bridging Finance Inc.

Fondée en 2012, Bridging Finance est l’une des principales sociétés de gestion de placements du marché canadien du crédit non traditionnel et gère actuellement des actifs totalisant environ 1 G$. Bridging Finance offre aux sociétés nord-américaines du marché intermédiaire des solutions de rechange aux options de financement offertes par les prêteurs traditionnels. Ces sociétés affectent les fonds obtenus, qui s’établissent généralement dans une fourchette de 3 M$ à plus de 50 M$, à des fins telles que la restructuration de la dette existante, la constitution d’un fonds de roulement aux fins de croissance, le financement d’achats de stocks et le financement de dépenses ainsi que d’acquisitions ou de rachats d’entreprise.

À propos de Ninepoint Partners LP

Établie à Toronto, Ninepoint Partners LP est l’une des principales sociétés de gestion de placements non traditionnels du Canada et elle gère des actifs totalisant environ 3 G$. Elle a pour mission d’aider les investisseurs à explorer des solutions de placement novatrices susceptibles d’améliorer les rendements et de mieux gérer les risques liés au portefeuille. Ninepoint offre une gamme diversifiée de stratégies de rechange, notamment des placements dans des titres de capitaux propres de sociétés nord-américaines, des titres de capitaux propres de sociétés étrangères, des actifs réels et des revenus de sources non traditionnelles.

Énoncés prospectifs :

Les énoncés prospectifs contenus aux présentes sont donnés à la date du présent communiqué, et la société décline toute obligation de les mettre à jour afin de tenir compte de nouveaux renseignements, d’événements ou de résultats futurs ou pour d’autres raisons, sauf dans la mesure où la législation applicable l’exige.

Renseignements : Pour en savoir davantage sur Bridging Finance Inc., veuillez consulter notre site Web au www.bridgingfinance.ca ou communiquer avec nous par téléphone en composant le 416‑640‑8965 ou le 1‑888‑920‑9598, ou par courriel à l’adresse dsharpe@bridgingfinance.ca ou ibaele@bridgingfinance.ca; Pour en savoir davantage sur Ninepoint Partners LP, veuillez consulter le site Web www.ninepoint.com ou communiquer avec nous par téléphone en composant le 416‑943‑6707 ou le 1‑866‑299‑9906, ou par courriel à l’adresse invest@ninepoint.com.

First step in a Canada-wide expansion strategy with First Nations and Indigenous Peoples in the spirit of reconciliation and today’s National Aboriginal Day

WINNIPEG, Manitoba, June 21, 2018 — Today, GrowForce Holdings Inc. and Peguis First Nation announced a joint venture to establish a partnership in a cross-Canada expansion.

The partnership will continue to evaluate opportunities in the cultivation, distribution and retail sale of cannabis products, and will be announcing further details on its initial activities, later this year, and plans for the future.

“This is a fitting announcement reflective of the spirit of reconciliation inherent in National Indigenous Peoples Day and demonstrates the intent of the leadership of Peguis to capitalize on economic opportunities in the cannabis space,” said Chief Glenn Hudson. “The joint venture is the culmination of seven months of intense effort by a dedicated team from the Chief Peguis Investment Corporation acting on the directives of Chief and Council with the support of the Peguis First Nation membership. This initiative will result in local investment, significant job creation and long-term economic development for our people and to the Selkirk area.”

Prior to selecting GrowForce, we explored a number of potential joint venture partnerships and GrowForce clearly has the most industry experience and the clearest vision for developing a nationwide seed to sale cannabis strategy that includes First Nations and Indigenous Peoples.

GrowForce currently owns a majority interest in flagship cannabis facilities operated through Health Canada’s ACMPR, with the exclusive rights to MJardin’s cannabis management services and intellectual property portfolio for use in Canada and other federally legal markets worldwide.

GrowForce also has significant project financing from Bridging Finance Inc., which is led by David Sharpe, Chief Executive Officer and a member of the Mohawks of the Bay of Quinte (Tyendinaga) First Nation. Sharpe has been instrumental in guiding GrowForce on its strategy to partner with First Nations across Canada, and sees joint ventures like this one bringing significant new economic development and employment opportunities to Indigenous peoples. Selkirk being the first location, will see the strength and shared passion behind this partnership.

“We backed GrowForce financially because of their dynamic business plan and executive experience, but we also saw the company genuinely wanted to make a positive impact in Indigenous communities across the country,” said Sharpe. “GrowForce has an experienced operating team through MJardin and an in-house training program that is second to none in the cannabis industry. Put that together with strong partners and an eager Indigenous workforce, and you have a great combination for both production and distribution of cannabis.”

GrowForce’s portfolio currently spans Manitoba, Ontario and Nova Scotia. The Peguis venture will spur the development of new facilities in or near Selkirk, Manitoba.

“We continue to move swiftly to strategically build our capacity in Canada,” said GrowForce Chairman and CEO Rishi Gautam. “Partnering with First Nations and Indigenous peoples is a great fit for our company and overall vision. Our operating partner and executives bring the experience of more than nine consecutive years in legal cannabis and 100,000 kg of finished product, with innovative software and training through MJardin University. GrowForce has the substantive ability to invest in new operations while hiring and training local staff.

The partnership with Peguis First Nation helps to achieve our goal of building Canada’s leading cannabis company with our Indigenous partners.”

Learn more about this new initiative in the Cover Story featured from page 28 – 37

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Bridging Finance Inc. (“Bridging Finance”) announces a sample of deals made in 2018. “We are very pleased with a successful start to 2018 having provided over $140MM in new commitments across the country,” said David Sharpe, CEO of Bridging Finance.

Bridging has recently expanded its offering with the launch of three additional funds: Bridging Mid-Market Debt Fund, focusing on mid-market companies with a need for longer-term financing as an alternative to lower their cost of capital; Bridging Infrastructure Fund, focusing on providing debt capital for infrastructure assets in the cannabis space; and Bridging Real Estate Fund, focusing on underserved borrowers in the real estate space.

“The addition of these products will complement Bridging’s existing offering and will support the growth of Bridging Finance as a preeminent private debt lender,” said Sharpe.

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About Bridging Finance Inc.
Bridging Finance is a privately held Canadian company providing middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3,000,000 to $50,000,000 and higher, are used by companies to address short-term needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts. Bridging Finance is the co-manager of the Ninepoint Bridging Income Fund LP and the manager of the Bridging Mid-Market Debt Fund LP,  Bridging Infrastructure Fund LP, and Bridging Real Estate Lending Fund LP. Bridging Finance also offers portfolio management services for institutional and family office clients. Bridging Finance’s total assets under management are over $900 million.

Graham Marr, CA, CPA, CFA, Senior Managing Director & Portfolio Manager, Bridging Finance Inc., T: 416-777-1794 | C: 416-906-0395, gmarr@bridgingfinance.ca;

Robb Cacovic, Senior Managing Director, Bridging Finance Inc., C: (604) 785-0936, rcacovic@bridgingfinance.ca;

Advisors please contact: David Sharpe, LLB, LLM, MBA, CEO, Bridging Finance Inc., T: (416) 362-6252 | C: (647) 981-5658, dsharpe@bridgingfinance.ca;

Bridging Finance CEO, David Sharpe speaks with the CBC’s Michael Enright about First Nations economic development opportunities.

To see the full article and listen to the interview please click here.

David Sharpe, CEO of Bridging Finance, says signing deals with First Nations for major projects is just good sense.
“We know that with every major project across this land, you must work with First Nations,” Sharpe says.

Bridging Finance is an alternative lender on Bay Street with a focus on Indigenous business development. As its CEO, Sharpe has financed housing construction, and oil, gas and renewable energy projects on — and for — First Nations.
“It’s no longer that you’re going to Bay Street, Wall Street, to get the money first. You’re going to the First Nations,” he says.

For more information on Bridging Finance: www.bridgingfinance.ca

Bridging Finance Inc. (“Bridging Finance”) is pleased to announce the launch of its latest product, the Bridging Real Estate Lending Fund LP (the “Bridging Real Estate Lending Fund”) which will be available for sale as of March 9, 2018 through the IIROC dealer channel on FundSERV and to institutional investors.

The investment strategy of the Bridging Real Estate Lending Fund will be to invest in an actively managed portfolio of first and second ranked mortgage loans that are secured by real property used for commercial purposes in Canada. At the onset, the target market will be the Province of Ontario and will expand throughout Canada thereafter.

In addition, Bridging Finance is pleased to announce that it has entered into an agreement with MarshallZehr Group Inc. (“MarshallZehr“), a licensed mortgage brokerage (#12453) and mortgage administrator (#11955), to act as the mortgage administrator of the mortgages.

“We are very pleased to continue our growth and broaden our relationship with the team of professionals at MarshallZehr. We have been able to experience first-hand the quality of their work and integrity and are eager to work in collaboration with them on growing the Bridging Real Estate Lending Fund,” said David Sharpe, Chief Executive Officer of Bridging Finance.

“Bridging Finance has established itself as a leader of private debt financing in Canada and have built a great reputation with both investors and borrowers alike. We are thrilled to expand our relationship with Bridging Finance and look forward to working together on numerous projects,” said Gregory Zehr, Chief Executive Officer of MarshallZehr.

About MarshallZehr Group Inc.
Established in 2008, MarshallZehr is a privately held real estate lending firm formed under the laws of Ontario. Along with its principals which have a combined 50+ years of various experience in the real estate industry, MarshallZehr possesses expertise and experience in originating, underwriting, servicing and syndicating mortgage investments. MarshallZehr brings a fresh perspective, financing efficiency and active administration, to elevate opportunities and attract the right capital to enable business success for both borrowers and lenders. For more information, please visit marshallzehr.com

About Bridging Finance Inc.
Established in 2012, Bridging Finance is a privately held Canadian company providing middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts. Bridging Finance is the co-manager of the Sprott Bridging Income Fund LP and the Sprott Bridging RSP Fund, which invest in factoring/private debt loans that have a low correlation to traditional asset classes. Bridging Finance also offers portfolio management services for institutional clients and currently manages approximately $700 million of assets. For more information, please visit bridgingfinance.ca.

The units of the Bridging Real Estate Lending Fund (the “Units”) will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the Units in Canada will be made on a basis that is exempt from the prospectus requirements of such securities laws and only through registered dealers.

This news release shall not constitute an offer to sell the Units or the solicitation of an offer to buy the Units, nor will there be any sale of the Units, in any jurisdiction where such offer, solicitation or sale is not permitted.

David Sharpe, Law’95, a Mohawk from the Bay of Quinte First Nation near Deseronto, Ontario, has defied the odds in carving out a successful career as a lawyer and entrepreneur. Now he has a bold plan to help Canada’s First Nations take advantage of opportunities in the country’s high-growth cannabis sector.

Sharpe, CEO of Toronto-based Bridging Finance Inc., has teamed-up with American partner MJardin Group to establish an infrastructure fund to provide First Nations with access to capital for business ventures in the production, marketing and distribution of marijuana when it is legalized in Canada on July 1.

Bridging Finance, founded in 2012 by Sharpe’s wife and business partner Natasha (Hilfer) (Artsci’93, MA’95), offers private-debt financing to small- and medium-sized businesses across North America – typically anywhere from $3 million up to $50 million. Since Sharpe’s December 2016 appointment as company CEO, Bridging Finance has become known as the “go to” source of capital for First Nations economic development. “We’re not inherently into backing initiatives in the cannabis sector,” he says, “but we foresaw huge opportunities for First Nations economic development in this area.”

Sharpe, who got a BA at the University of Guelph prior to enrolling at Queen’s Law in 1992, subsequently graduated from Osgoode Hall Law School with an LLM in securities law, earned an MBA from the Richard Ivey School of Business at Western, and worked in the corporate sector for two decades prior to joining Bridging Finance. Early in his career, he never hid his Indigenous heritage, but he never publicized it. “It was a different time. I just wanted to fit in and do my best to survive on Bay Street,” he recalls.

He did that and more, proving he has what it takes to succeed in both the corporate and legal worlds. Nowadays, at age 52 and with his career firmly established, he “feels equally at home in a boardroom or in a sweat lodge.” And so he’s tirelessly devoting himself to leadership and mentoring roles with First Nations people. He’s Chair Emeritus of the Board of Governors of the First Nations University of Canada, while at Queen’s Law he serves as a member of the Dean’s Council, as an Aboriginal Ambassador Student Recruitment, and as the instructor in the First Nations Negotiation course. However, it’s in his capacity as CEO of Bridging Finance that Sharpe feels he can really make an immediate difference.‎

For one thing, he’s eager to create jobs for First Nations, particularly young people – for example, he hired Jason Mercredi, Law’18, to work at the company prior to attending Queen’s Law. And Bridging Finance has provided loans to back the purchase of an Arctic fishing trawler by an Inuit-owned corporation, the building of housing and elders’ apartments in northern Manitoba, a wind farm and a hockey rink in Quebec, and the opening of a full-scale grocery store/pharmacy – the first ever – in the remote New Brunswick Elsipogtog First Nation community, 245 km northeast of Fredericton.

Sharpe hails Bridging Finance’s infrastructure fund agreement with MJardin Group as being an “exciting new initiative” both for his company and for Canada’s First Nations communities, one that promises to grow cannabis-sector opportunities and good jobs for First Nations. Denver-based MJardin, which now also has a Toronto office, is the world’s largest legitimate cannabis producer and an industry leader.

“MJardin provides its partners with turn-key cultivation and processing solutions for large-scale, professionally managed cannabis production,” says Sharpe. “First Nations across Canada are expressing strong interest in getting into the business.”

By Ken Cuthbertson
Link to the article

Bridging Finance Inc. (“Bridging Finance” or the “Company“) is pleased to announce the launch of its newest product, the Bridging Infrastructure Fund LP (the “Bridging Infrastructure Fund“) which will be available for sale as of today through the IIROC dealer channel on FundSERV and to institutional investors.

As previously announced by the Company on December 12, 2017, the Bridging Infrastructure Fund will be focused on private debt loans related to infrastructure and the consolidation of entities within the cannabis sector. Bridging is also pleased to announce that it has entered into a strategic alliance with an affiliate entity of the MJardin Group to act as its Strategic Operating Partner, assisting in identifying potential borrowers as well as actively managing the operations of the underlying infrastructure investments.

“We continue to experience significant growth and are very pleased with the continued support we have received to date from our investors. We are also extremely delighted to collaborate with the MJardin Group on the launch of the Bridging Infrastructure Fund and look forward to utilizing their expertise within this industry and leveraging their operating expertise across North America,” said David Sharpe, Chief Executive Officer of Bridging Finance. “Having established ourselves as leaders of infrastructure financing to First Nations, we are also excited about the opportunity of assisting them on capitalizing on such opportunity to create both wealth and employment,” added David Sharpe.

“We are currently seeing numerous opportunities to bring our expertise to Canada and are thrilled to work with Bridging Finance in bringing these opportunities to fruition. The Bridging Finance team has established themselves as leaders in the private debt space with the ability to act and deliver quickly which is instrumental in this industry,” said Rishi Gautam, Chairman and Chief Executive Officer of the MJardin Group.

About MJardin Group
MJardin is a highly specialized professional operating company that develops partnerships with licensed operators. MJardin provides its partners turnkey cannabis cultivation and processing solutions including licensure support, facility design, systems implementation, facility ramp-up and the day-to-day operational management required in a large-scale, professionally managed cannabis facility. MJardin is headquartered in Denver, Colorado with an additional office in Toronto, Ontario. For more information, please visit MJardin.com.

About Bridging Finance Inc.
Established in 2012, Bridging Finance is a privately held Canadian company providing middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.  Bridging Finance is the co-manager of the Sprott Bridging Income Fund LP and the Sprott Bridging RSP Fund, which invest in factoring/private debt loans that have a low correlation to traditional asset classes. Bridging Finance also offers portfolio management services for institutional clients and currently manages approximately $600 million of assets. For more information please visit bridgingfinance.ca.

The units of the Bridging Infrastructure Fund (the “Units”) will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the Units in Canada will be made on a basis that is exempt from the prospectus requirements of such securities laws and only through registered dealers.

This news release shall not constitute an offer to sell the Units or the solicitation of an offer to buy the Units, nor will there be any sale of the Units, in any jurisdiction where such offer, solicitation or sale is not permitted.

For further information: on MJardin: Paul Wilken, MJardin Group, paul.wilken@MJardin.com, +1.720.613.4019; For further information on Bridging Finance Inc.: David Sharpe, LLB, LLM, MBA, Chief Executive Officer, Bridging Finance Inc., C: (647) 981-5658, dsharpe@bridgingfinance.ca

DIANNE MALEY
Special to The Globe and Mail
Published Tuesday, Feb. 14, 2017 5:00AM EST

This RRSP season, as you cast about for bond alternatives to plump up the fixed income side of your portfolio, consider a private debt offering from an alternative investment manager.

Now, “alt” investing might evoke images of risky algorithms dreamed up by quantitative analysts, or vulture funds picking over the bones of distressed companies. Ideally, though, debt strategies are designed to offset the ups and downs of the stock market while offering stable yields that are higher than those available on most bonds.

Here are a few favoured by Craig Machel, a portfolio manager at Richardson GMP in Toronto who specializes in alternative investments.

Until recently, alt investments were the preserve of “accredited” investors – individuals with high income and a high net worth. Changes have made alt investments available to investors of lesser means whose investment adviser is also a portfolio manager.

Bridge financing

David Sharpe, chief executive officer of Bridging Finance Inc. of Toronto, clearly loves the role his firm plays providing short-term financing to small and mid-sized borrowers who may not meet bank lending requirements.

Mr. Sharpe, a member of the Mohawks of the Bay of Quinte First Nation near Deseronto, Ont., says his firm has become the “go to” group for bridge financing to First Nations, a burgeoning market for infrastructure and economic development.

“We’re one of the first calls in Canada for this type of thing,” Mr. Sharpe said in an interview. “It’s an important and growing part of our business.”

A lawyer by training, Mr. Sharpe also teaches a course in First Nations negotiations at Queen’s University in Kingston, Ont. “Consultations with First Nations about economic development is gigantic in this country,” he says. “We want to be on the leading edge of that.”

Among Mr. Sharpe’s proudest achievements was providing interim financing for a new commercial centre – a supermarket, drugstore and retail space – for the Elsipogtog First Nation in New Brunswick, creating 50 jobs in the process. Already, the supermarket is netting $1-million a year, he says, and community members no longer have to drive 20 minutes to buy a loaf of bread.

The project had been years in the making, says D.J. Joseph, Elsipogtog nation administrator. “We were coming down to the wire when the idea was brought to us that we could secure the financing through a bridge financing company,” Mr. Joseph said in an interview. “Bridging Finance was the one that secured the capital dollars to get things going. We couldn’t have done it without them.”

With deal flow robust, Mr. Sharpe is “looking forward to consistent growth in 2017” despite uncertainty over the recent U.S. election. “The economy is alive and well in this country.”

The Sprott Bridging Income Fund LP is diversified by sector and geography, he notes, “and we’re getting deals in interesting places,” from Nunavut to Newfoundland. Among the projects financed were the purchase of two fishing vessels for an Inuit organization called the Baffin Fisheries Coalition and a tomato processing and canning plant in Leamington, Ont.

Mr. Sharpe is chair of the board of governors of the First Nations University of Canada in Regina and a board member of the economic development corporation for Eabametoong (Fort Hope) First Nation near Thunder Bay, Ont. He runs the fund with his wife, Natasha Sharpe, who is chief investment officer. She has PhDs in epidemiology and community health. Both have MBAs.

All of the Bridging Finance loans are performing, Mr. Sharpe says, which means no one is behind on their payments. “Private debt is very hard work,” he adds. “You have to roll up your sleeves, do your due diligence and monitor your investments.”

The Bridging Finance fund is marketed and distributed by Sprott Asset Management of Toronto. Bridging Finance acts as subadviser. The Sprott Bridging Income Fund LP (Class F) returned a net 8.07 per cent to investors in 2016, Mr. Sharpe says. The fund has returned a compounded 8.95 per cent a year since inception in November of 2013.

Click here to read the full article

TRADERS

Two investing vehicles that avoid the markets’ ups and downs

For more than two years now, Natasha Sharpe has been quietly generating returns of 7 per cent to 9 per cent a year for her well-heeled clients – with little regard for the ups and downs of financial markets.

Stock markets may soar and dip, but she’s impervious. So, too, with bond and money markets. Her investments lie squarely on the fixed-income side of investors’ portfolios, but they are not hostage to rising interest rates.

Dr. Sharpe is chief executive officer and chief investment officer of Bridging Finance Inc. of Toronto, a firm that provides financing to small and medium-sized companies in need of short-term capital but that may not meet bank lending requirements.

Bridging Finance specializes in factoring – buying accounts receivable at a discount from businesses in need of working capital. Last summer, it reached an agreement with Sprott Asset Management LP for Sprott to manage its fund, now the Sprott Bridging Income Fund LP. Sprott markets and distributes the fund, while Dr. Sharpe and her team, including her husband, David Sharpe, president and chief operating officer, continue as sub-advisers.

As well as her financial experience, Dr. Sharpe, who is 42, has PhDs in epidemiology and community health from the University of Toronto, and an MBA from the Rotman School of Management.

How does factoring work?

Dr. Sharpe offers the following example. A jeweller client was doing well selling jewellery to mom-and-pop retailers around the province. Then he landed a big contract with a national retail chain. Suddenly he was faced with having to finance greatly increased production, shipping and distribution costs. Even if he did manage to deliver the goods, he would have to wait 90 days for the retailer to pay him.

Click here for the full article.