Bridging Finance Inc. Paying Out Last Remaining Redemptions

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)

Bridging Income Fund and Bridging Mid-Market Debt Fund July 2020 Portfolio Commentary

Bridging Income Fund and Bridging Mid-Market Debt Fund July 2020 Portfolio Commentary

 

We thank you for your support and patience during these unprecedented times as we remain focused on 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 the following risks. See the offering memorandum of the Funds for a description of these risks: Speculative Investments; Limited Operating History for the Partnership; Distributions and Allocations; Class Risk; Possible Loss of Limited Liability; Repayment of Certain Distributions; Limited Partners Not Entitled to Participate in Management; Dependence of Manager on Key Personnel; Reliance on the Manager; Possible Effect of Redemptions; Tax Liability; Charges to the Partnership; Potential Indemnification Obligations; Not a Public Mutual Fund; Changes in Investment Strategies; Valuation of the Partnership’s Investments; Lack of Independent Experts Representing Limited Partners; 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 Income Fund LP and Bridging Mid-Market Debt Fund LP are 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 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 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 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 Fund may be lawfully in their jurisdiction.

Bridging Finance Inc. is the Manager of the Bridging Income Fund LP and Bridging Mid-Market Debt Fund LP. (April/2020)

 

Economic Reconciliation – A hopeful and inspiring documentary on economic reconciliation between Canadians and Indigenous people

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

Link to full article

Bridging Finance Inc. Provides Update on Temporary Suspension of Redemptions

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.

Link to Notice

Link to FAQ

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. Announces the Hire of Michael Garofalo, Chief Financial Officer

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.

Notice of Change of Administrator – Bridging Income Fund

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.

Bridging Income Fund LP Notice

Bridging Income RSP Fund Notice

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;

Indigenous Economic Reconciliation is Vital for all Canadians

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)

Bridging Finance Paying Another Tranche of Redemptions

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)

Bridging Mid-Market Debt Fund Paying a Further 29% of Outstanding Redemptions

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)

Bridging Indigenous Impact Fund – A Unique Alternative ESG Fund

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)

1 mth 3 mth 6 mth   1 yr   YTD SI*
0.69% 2.10% 4.72% 10.25% 3.67% 10.14%

 *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)

Bridging Income Fund Paying a Further 9% of Outstanding Redemptions

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)

Bridging Finance Continues Paying Out Redemptions

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)

Bridging Finance Redemption and Liquidity Update

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)

1 mth 6 mth 1 yr 3 yr 5 yr YTD Since Inception*
0.60% 4.10% 8.29% 8.60% 8.34% 1.90% 8.66%

*Since Inception November 2013

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

1 mth 3 mth 6 mth 1 yr YTD Since Inception*
0.59% 1.88% 4.08% 8.06% 1.88% 8.67%

*Since Inception November 2017

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

1 mth 3 mth 6 mth   1 yr   YTD Since Inception*
0.74% 2.29% 5.40% 2.29% 8.76%

*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 Income Fund and Bridging Mid-Market Debt Fund Q1 2020 Portfolio Commentary

Bridging Income Fund and Bridging Mid-Market Debt Fund Q1 2020 Portfolio Commentary

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 the following risks. See the offering memorandum of the Funds for a description of these risks: Speculative Investments; Limited Operating History for the Partnership; Distributions and Allocations; Class Risk; Possible Loss of Limited Liability; Repayment of Certain Distributions; Limited Partners Not Entitled to Participate in Management; Dependence of Manager on Key Personnel; Reliance on the Manager; Possible Effect of Redemptions; Tax Liability; Charges to the Partnership; Potential Indemnification Obligations; Not a Public Mutual Fund; Changes in Investment Strategies; Valuation of the Partnership’s Investments; Lack of Independent Experts Representing Limited Partners; 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 Income Fund LP and Bridging Mid-Market Debt Fund LP are 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 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 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 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 Fund may be lawfully in their jurisdiction.

Bridging Finance Inc. is the Manager of the Bridging Income Fund LP and Bridging Mid-Market Debt Fund LP. (April/2020)

 

FAQ on temporary suspension of redemptions and general update

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.

 

Bridging Finance temporarily suspends redemptions

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

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 supporting Canadians during these challenging times

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.

Private Lenders Face Flood of Calls From Cash-Strapped Borrowers

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

Bridging Finance CEO David Sharpe provides portfolio update, March 20, 2020


 

 

 

 

 

 

 

 

The Bridging Income Fund and Bridging Mid-Market Debt Fund (the “Bridging Funds”) are generally exposed to a number of risks. See the offering memorandum of the Bridging Funds for a description of these risks.
Bridging Finance Inc., is the manager to the Bridging Funds (the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), other charges and expenses all may be associated with these fund investments. Please read the offering memorandum carefully before investing. The Funds are not guaranteed, their values change frequently and past performance may not be repeated. 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 resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.The opinions, estimates and projections (“information”) contained within this conference call are solely those of Bridging Finance Inc., and are subject to change without notice. Bridging Finance Inc., makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, Bridging Finance Inc., assumes no responsibility for any losses or damages, whether direct or indirect, which arise out of the use of this information. Bridging Finance Inc., is not under any obligation to update or keep current the information contained herein. The information should not be regarded by recipients as a substitute for the exercise of their own judgment. Please contact your own personal advisor on your particular circumstances. Any reference to a particular company is for illustrative purposes only and should not to be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any fund managed by Bridging Finance Inc., is or will be invested. Bridging Finance Inc. March/2020

Bridging Finance CIO Natasha Sharpe provides portfolio update, March 18, 2020

 

 

 

 

 

 

 

 

 

The Bridging Income Fund and Bridging Mid-Market Debt Fund (the “Bridging Funds”) are generally exposed to a number of risks. See the offering memorandum of the Bridging Funds for a description of these risks.
Bridging Finance Inc., is the manager to the Bridging Funds (the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), other charges and expenses all may be associated with these fund investments. Please read the offering memorandum carefully before investing. The Funds are not guaranteed, their values change frequently and past performance may not be repeated. 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 resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.The opinions, estimates and projections (“information”) contained within this conference call are solely those of Bridging Finance Inc., and are subject to change without notice. Bridging Finance Inc., makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, Bridging Finance Inc., assumes no responsibility for any losses or damages, whether direct or indirect, which arise out of the use of this information. Bridging Finance Inc., is not under any obligation to update or keep current the information contained herein. The information should not be regarded by recipients as a substitute for the exercise of their own judgment. Please contact your own personal advisor on your particular circumstances. Any reference to a particular company is for illustrative purposes only and should not to be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any fund managed by Bridging Finance Inc., is or will be invested. Bridging Finance Inc. March/2020

BRIDGING FINANCE COMMENTS ON MARKET AND PORTFOLIO

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 Announces Winter Roadshow showcasing their new Fund of Funds, the Bridging Fern Alternative Credit Fund

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

SHIP announces the expansion of its partnership consortium to include Membertou and Bridging Finance Inc.

SYDNEY, NSJan. 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. Announces A Sample Of Deals Made In 2019

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 signs on as major partner for Sydney port development

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.

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The Bridging Income and Bridging Mid-Market Debt Funds mark their respective 6 and 2 year anniversaries

TORONTOJan. 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

Bridging Finance Inc. Collaborates on New Product With Blackrock Asset Management Canada Limited

TORONTO, Oct. 4, 2019 – Bridging Finance Inc. (“Bridging Finance”) is pleased to collaborate with BlackRock Asset Management Canada Limited (“BlackRock”) to offer one of the most diversified fund of funds offering of alternative credit in Canada.

“We are extremely pleased and honored to welcome BlackRock to our Bridging Fern Alternative Credit Fund (the “Fund”). As one of the largest asset managers in the world, we look forward to working with BlackRock and bringing this unique investment opportunity to the Canadian retail market”, said David Sharpe, Chief Executive Officer of Bridging Finance. “This Fund is a first of its kind in Canada and offers Canadian retail investors the opportunity to gain exposure to certain funds and fund managers that are typically only available to institutional investors”, added Mr. Sharpe.

The portfolio of underlying funds has been selected by Bridging Finance in order to provide a unique investment opportunity to investors looking to diversify their alternative investments. The investment objective of the Fund is to generate positive absolute returns while preserving capital and with a low correlation to traditional asset classes.

The Fund is currently available through the IIROC dealer channel on FundSERV for retail investors throughout Canada. The Fund has received commitments for CAD$45MM and plans to raise approximately CAD$450MM more in the following 12 months.

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

About Bridging Finance Inc.

Established in 2012, Bridging Finance is one of Canada’s leading alternative credit investment management firms and currently manages approximately $1.6 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.

The units of the Bridging Fern Alternative Credit Fund (the “Units”) are not qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the Units in Canada are 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.

Lender to Fund Container Pot Shops on Canadian Indigenous Lands

A Canadian lender to indigenous people is planning to fund cannabis stores on First Nations lands where it says communities haven’t reaped the economic benefit from the drug’s legalization.

Bridging Finance Inc. is starting with a store on the Peguis First Nation in Manitoba, according to chief executive officer David Sharpe. His firm is working with Popcann, which fashions pot stores from old shipping containers, and the pair are in talks to replicate the model in indigenous communities in North America.

A Popcann pre-fabricated cannabis store.

“For me it’s a fairness issue. We’re lobbying the Ontario government to come up with more licenses,” said Sharpe, a member of the Mohawks of the Bay of Quinte. “We often say the cannabis economy is the new buffalo, so we don’t want to miss the boat.

Canada became the second country to legalize recreational marijuana in October, igniting a race for licenses, financing and expanded production. In Ontario, where Sharpe is based, some indigenous people have expressed frustration at the provincial government’s plan to issue a maximum of eight licenses for cannabis stores on reserves on a first-come, first-serve basis. There are over 200 reserves in the province.

Private Debt

Bridging Finance is funding the 1,900 square foot Manitoba project using a private debt fund set up in April to finance indigenous economic development. It plans to expand the fund to C$500 million ($378 million).

It will charge 1% per month on the loans for the Popcann projects in indigenous communities, according to Sharpe. The loans will be shorter term and flipped over to banks or other lenders once the projects are generating revenue, he said.

Bridging Finance and Popcann are in talks with several other First Nations in Canada and tribes in the U.S. to bring a similar model to their communities. Many First Nations, including Sharpe’s community of Tyendinaga, have dozens of unregulated pot stores but Bridging Finance will only fund legal outlets, he said.

Casinos, Fisheries

Bridging Finance currently has C$1.6 billion in assets under management and its other direct lending funds invest in collateral-based bridging loans, inventory and accounts-receivables financing. Returns from the funds hover around 8.5%, according to Sharpe. The firm has already lent around C$320 million to finance casinos, renewable energy, housing, grocery stores and fisheries in indigenous communities. The company has never suffered a default or had to work out a loan in this area before, according to Sharpe.

relates to Lender to Fund Container Pot Shops on Canadian Indigenous Lands

For Popcann’s part, the company offers about eight different cannabis store layouts and can have the simplest versions up and running in 60 days, according to Popcann Chief Executive Officer Jake Neiman. He envisions having 10 Popcann stores open by the end of 2019 and 30 to 50 by the end of 2020. It will use Bridging Finance loans from around C$250,000 to C$500,000 depending on the size of the structure.

“The intent is to put up a loan to get a Popcann fully operational and recoup that loan after it’s generating income for that community,” Neiman said. “It’s kind of a no-risk, all-upside situation.”

Link to full article

Bringing together the Queen’s and Indigenous communities

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)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

Bridging Finance Inc. Announces A Sample Of Deals Made In 2019

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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Bridging Finance Inc. Becomes Signatory to the United Nations – Supported Principles for Responsible Investment

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 Partners with Peguis First Nation to Bring Legal Cannabis to Indigenous Communities

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

Alumni celebrate Queen’s Law – past, present and future!

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

Bridging Finance launches Fund of Funds in Alternative Credit

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.

“Demand for direct credit has increased greatly since we started seven years ago” David Sharpe, CEO

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.

“We’ve never had a default on an Indigenous loan,”  David Sharpe, CEO

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.

A first for Canada: An Indigenous-focused fund that projects 8-per-cent returns

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. announces the hire of Tanuja Patel, SVP, Investor and Dealer Relations

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

Bridging Finance helps lead the way to Economic Reconciliation

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.

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.David Sharpe, Law’95, CEO of Bridging Finance Inc

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.”

When corporate Canada hears about barriers that prevent Indigenous communities from accessing wealth and capital, they’re shocked and want to help. They are uniquely placed to help finance First Nations projects and light that first spark for successful Indigenous entrepreneurship.David Sharpe, Law’95, CEO of Bridging Finance Inc

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

Thank you from Bridging Finance Inc. – Over $480 million in successful fundings in 2018

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.

Bridging Private Debt Institutional Fund Wins 2nd Place at the Canadian Hedge Fund Awards

Bridging Finance Inc. (“Bridging Finance“) is pleased to announce that a fund managed by Bridging Finance, the Bridging Private Debt Institutional LP (“Fund“), has received an award in the category of Private Debt at the 2018 Canadian Hedge Fund Awards. The Fund finished 2nd placed in the “Best 1 Year Return” category of Private Debt, a new category of the Canadian Hedge Fund Awards.

“We are extremely pleased to have the fund recognized by the Canadian Hedge Fund Awards as a leading fund in the private debt sector”, said David Sharpe, Chief Executive Officer of Bridging Finance. “We recently announced the closing of our acquisition to become the sole manager of the fund known as the Bridging Income Fund and this award further solidifies Bridging’s position as a leading alternative credit investment manager in Canada. We appreciate the confidence placed in the fund by its unitholders and we look forward to the continued success of the fund 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 manages in excess of $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 visit the offering memorandum of the Fund for any further information. Performance of the fund is not guaranteed and past performance is not indicative of any future performance.

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

Rama First Nation and GrowForce Announce Joint Venture in Cannabis Production

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

A Change for the Better

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. and Ninepoint Partners LP Announce Closing of Asset Purchase Agreement

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. and Ninepoint Partners LP Announce Asset Purchase Agreement

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. et Ninepoint Partners LP annoncent une convention d’achat d’actifs

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.

The Queen’s Board of Trustees appoints David Sharpe

Board of Trustees welcomes three new members

Marie Delorme (MBA’00), David Sharpe (Law’95) and John Stackhouse (Com’85) appointed to three-year terms.

The Queen’s Board of Trustees has appointed three new members who will bring their individual expertise and experiences to the governance of the university.

Marie Delorme (MBA’00), David Sharpe (Law’95) and John Stackhouse (Com’85) were appointed by the current Board of Trustees to three-year terms that began on June 1.

In line with the university’s overall effort to support diversity and inclusion, the Board of Trustees has actively sought to set the “tone from the top” by increasing the diversity of its membership in recent years.

Dr. Delorme is a Métis originally from Manitoba. Mr. Sharpe is Mohawk and a member of the Mohawks of the Bay of Quinte.

“Board diversity is an important step toward fostering a culture that encourages the inclusion of a broad range of views in the governance of the university. Having board members with the necessary mix of skills and who can provide multiple perspectives results in better decisions and strong oversight,” says Don Raymond, Chair, Board of Trustees. “I am certain that the board and Queen’s University will benefit from the additions of Dr. Delorme, Mr. Sharpe, and Mr. Stackhouse. I look forward to working with each and welcome them to the Board of Trustees.”

NEW MEMBERS OF THE BOARD OF TRUSTEES

Marie DelormeMarie Delorme is CEO of The Imagination Group of Companies. She chairs the Chiniki Trico Board, is past chair of the RCMP Foundation Board, and serves on the River Cree Enterprises Board, the National Indigenous Economic Development Board, and The Canadian Centre to End Human Trafficking. Dr. Delorme is a Member of the Order of Canada, has received the Indspire Award in Business and Commerce, and was named as one of Canada’s 100 Most Powerful Women. She holds a Bachelor of Science degree, an MBA from Queen’s, and both a PhD and an Honorary Doctor of Laws from the University of Calgary.

David SharpeDavid Sharpe is the Chief Executive Officer of Bridging Finance Inc., one of Canada’s largest private debt firms. Mr. Sharpe has a particular focus on economic development for First Nations and Inuit communities. He is Chair Emeritus of First Nations University of Canada and is also a board member of the Economic Development Corporation for Eabametoong (Fort Hope) First Nation and the vice-chair of the Dean’s Council for the Queen’s Faculty of Law. Mr. Sharpe is a lawyer and a member of the Law Society of Upper Canada since 1997. He has an LLB from Queen’s, an LLM in Securities Law from Osgoode Hall Law School and a Masters of Business Administration from the Richard Ivey School of Business, University of Western Ontario.

John StackhouseJohn Stackhouse is Senior Vice-President, Office of the CEO at RBC, and is responsible for interpreting trends for the executive leadership team and Board of Directors with insights on how these are affecting RBC, its clients, and society at large. Prior to this, Mr. Stackhouse was editor-in-chief of The Globe and Mail (2009-14), editor of Report on Business, and from 1992-1999, a foreign correspondent based in New Delhi, India. He has authored three books: Out of Poverty; Timbit Nation; and Mass Disruption: Thirty Years on the Front Lines of a Media Revolution. He is a Senior Fellow at the Munk School of Global Affairs, C.D. ‎Howe Institute and on the boards of Saint Elizabeth Health Care and the Aga Khan Foundation of Canada.

Meeting four times a year the Board of Trustees is responsible for the governance of Queen’s as it relates to financial matters, property, risk, and external relations, among other items. The board is made up of 25 members – three ex-officio, 10 external, six from University Council, and two faculty, staff, and students.

To learn more about the Board of Trustees, visit the Queen’s University Secretariat and Legal Counsel webpage.

GrowForce and Peguis First Nation announce cannabis joint venture with financing provided by Bridging Finance

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.”

Bridging Finance Announces 2018 Deals

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;

David Sharpe speaks with the CBC’s Michael Enright about First Nations economic development opportunities

Sean Willy, President and CEO of Des Nedhe Development, an English River First Nation company, and David Sharpe, CEO of Bridging Finance.

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. Announces the Launch of the Bridging Real Estate Lending Fund LP

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.

Law’95 grad helping to create First Nations jobs in burgeoning cannabis industry

Mohawk innovator David Sharpe, Law’95David 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. Announces the Launch of the Bridging Infrastructure Fund LP

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

Bridging Finance Inc. announces over $300,000,000 in completed financings for the 9-month period ending September 30, 2017

TORONTOOct. 5, 2017 – Bridging Finance Inc. (“Bridging“), a leading provider of private debt capital for businesses operating in North America, is pleased to announce that it has recently completed $300,000,000 in new financings for the 9 months ended September 30, 2017. “In addition to the $300MM in new commitments completed, we’ve had over $170MM in successful exits so far in 2017,” commented David Sharpe, CEO.

Bridging provides capital in the form of asset-based loans, unitranche and factoring facilities, to companies for growth, transition, shareholder buyouts, acquisitions, and special situations. Capital is used as a complement or replacement to a company’s existing debt facilities generally on more flexible terms than provided by traditional financial institutions.

Bridging is the Co-Manager of Sprott Bridging Income Fund LP and Sprott Bridging Income RSP Fund and is Manager of the recently announced Bridging Mid-Market Debt Fund.

Bridging Finance Inc. announces the launch of the Bridging Mid-Market Debt Fund LP

TORONTOOct. 4, 2017 – Bridging Finance Inc. (“Bridging Finance” or the “Company“) is pleased to announce the launch of its newest product, the Bridging Mid-Market Debt Fund LP (the “Bridging Mid-Market Debt Fund“) which will be available as of October 20, 2017 through the IIROC dealer channel on FundSERV.

“Bridging Finance is currently experiencing significant growth and continues to establish itself as a leading provider of non-distressed private debt financing in Canada. Accordingly, the addition of the Bridging Mid-Market Debt Fund to the suite of products offered by Bridging Finance will allow us to better serve the financial advisor community with a product normally reserved for institutional investors, while assisting companies seeking alternative financing in North America,” said David Sharpe, Chief Executive Officer of the Company.

The Bridging Mid-Market Debt Fund’s management team features personnel with approximately 180 years of various credit and business experience. “We are thrilled with the launch of the Bridging Mid-Market Debt Fund which will serve as an excellent complement to the Sprott Bridging Income Fund LP (“SBIF”), a fund co-managed by Bridging Finance with assets under management of approximately $500 million. The borrowers within SBIF are typically transitioning businesses with a focus on near term exits, whereas the borrowers within the Bridging Mid-Market Debt Fund will be looking for longer-term capital,” said Natasha Sharpe, Chief Investment Officer of the Company. “We believe this area of the market is underserved and the launch of this new product will allow us to expand our portfolio by offering to eligible mid-market companies an alternative to lower their cost of capital,” added Natasha Sharpe.

The goal of the Bridging Mid-Market Debt Fund will be to provide financial advisors and their clients with access to consistent, low volatility and non-correlated yield to the public markets.

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.

The units of the Bridging Mid-Market Debt 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.

SOURCE Bridging Finance Inc.

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

A worthy alternative to bonds for income seekers: private debt

sharpe2

 

DIANNE MALEY
Special to The Globe and Mail
Published

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

Two investing vehicles that avoid the markets’ ups and downs.

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.

Bridging Finance Inc. announces sub-advisory relationship with Sprott Asset Management LP

TORONTO, July 28, 2014 – Bridging Finance Inc. (“Bridging”) is pleased to announce that it has entered into an exclusive sub-advisory relationship with Sprott Asset Management LP for the Sprott Bridging Income Fund LP (the “Fund”). The Fund’s principal investment objective is to achieve superior risk-adjusted returns with minimum volatility and low correlation to traditional asset classes by investing in factored receivables and asset-based loans of Canadian and U.S. Companies.

 

The Fund provides debt capital to middle-market Canadian and U.S. companies unable to access traditional financing sources. Lending proceeds 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.

 

“We are excited about the increased national presence that the Sprott relationship provides,” said David Sharpe, President and COO of Bridging Finance. “We will continue to focus on providing companies unable to access traditional financing with alternatives and continue to build our presence in the private debt space in Canada.”

About Bridging Finance Inc.

Bridging is a privately held Canadian company with over two years of private investment management experience providing middle-market Canadian companies with alternatives to the financing options offered by traditional lenders. Lending proceeds 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.

 

About Sprott Asset Management

Sprott Asset Management LP (www.sprott.com), a wholly owned subsidiary of Sprott Inc. (www.sprottinc.com), is a fund company dedicated to achieving superior returns for its investors over time. Sprott Asset Management LP manages assets primarily for institutions, endowments and high net worth individuals and is the investment manager of the Sprott Mutual Funds. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Offering Memorandum before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. 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 should consult their financial advisor to determine if the Sprott Mutual Funds may be sold in their jurisdiction.

 

For further information please contact us at:

 

Bridging Finance Inc.
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7
(416) 365-6252
1-888-920-9598
www.bridgingfinance.ca
inquiries@bridgingfinance.ca

Bridging Finance Inc. provides a $4.9 million term loan and revolving facility to a building products manufacturer

TORONTO, July 14, 2014 – Bridging Finance Inc. (“Bridging”) recently provided a $4.9 million term loan and revolving facility to a timber products manufacturer and distributor. The facilities provided the company with additional working capital for growth and will allow the company to increase margins and manage seasonality.

About Bridging Finance Inc.

Bridging is a privately held Canadian company with over two years of private investment management experience providing middle-market Canadian companies with alternatives to the financing options offered by traditional lenders. Lending proceeds 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.

 

About Bridging Credit Fund LP

The investment objective of the Fund is to acquire and maintain a diversified portfolio of Factoring Investments and Asset Based Investments. The Fund offers clients yield outside of traditional fixed income investments (i.e. not invested in real estate or bonds) and is non-market linked.

 

For further information please contact us at:

 

Bridging Finance Inc.
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7
(416) 365-6252
1-888-920-9598
www.bridgingfinance.ca
inquiries@bridgingfinance.ca

Bridging Finance Inc. provides a $1.5 million factoring and purchase order facility to a technology services company

TORONTO, July 4, 2014 – Bridging Finance Inc. (“Bridging”) recently provided a $1.5 million factoring and purchase order facility to a technology services company, allowing the company to capitalize on its tremendous growth prospects and accept orders from major retailers.

About Bridging Finance Inc.

Bridging is a privately held Canadian company with over two years of private investment management experience providing middle-market Canadian companies with alternatives to the financing options offered by traditional lenders. Lending proceeds 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.

 

About Bridging Credit Fund LP

The investment objective of the Fund is to acquire and maintain a diversified portfolio of Factoring Investments and Asset Based Investments. The Fund offers clients yield outside of traditional fixed income investments (i.e. not invested in real estate or bonds) and is non-market linked.

 

For further information please contact:

 

Ian Baele,
Vice President, Sales
Bridging Finance Inc.
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7
1-888-920-9598
ibaele@bridgingfinance.ca

Bridging Finance Inc. provides a $6.5 million factoring facility and term loan to an international logistics company

TORONTO, July 4, 2014 – Bridging Finance Inc. (“Bridging”) recently provided a $6.5 million factoring facility and term loan to an international logistics company. The facilities provided the Company with additional working capital to finance its operations focused on handling large volume commodities.

About Bridging Finance Inc.

Bridging is a privately held Canadian company with over two years of private investment management experience providing middle-market Canadian companies with alternatives to the financing options offered by traditional lenders. Lending proceeds 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.

 

About Bridging Credit Fund LP

The investment objective of the Fund is to acquire and maintain a diversified portfolio of Factoring Investments and Asset Based Investments. The Fund offers clients yield outside of traditional fixed income investments (i.e. not invested in real estate or bonds) and is non-market linked.

 

For further information please contact us at:

 

Bridging Finance Inc.
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7
(416) 365-6252
1-888-920-9598
www.bridgingfinance.ca
inquiries@bridgingfinance.ca

Bridging Finance Inc. Provides $3M Facility to a Technology Services Company

TORONTO, June 4, 2014 – Bridging Finance Inc. (“Bridging”) recently provided a $3,000,000 accounts receivable facility to a technology services company. The facility allowed the company to pay off its existing debt, with the remainder being used for working capital purposes.

 

“As a business with huge potential, they required financing to pay off existing debts and to provide working capital as they transition their business to digital/web based solutions.” says Kevin Westfall, Senior Vice President, Factoring.

About Bridging Finance Inc.

Bridging is a privately held Canadian company with over two years of private investment management experience providing middle-market Canadian companies with alternatives to the financing options offered by traditional lenders. Lending proceeds 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.

 

About Bridging Credit Fund LP

The investment objective of the Fund is to acquire and maintain a diversified portfolio of Factoring Investments and Asset Based Investments. The Fund offers clients yield outside of traditional fixed income investments (i.e. not invested in real estate or bonds) and is non-market linked.

 

For further information please contact us at:

 

Bridging Finance Inc.
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7
(416) 365-6252
1-888-920-9598
www.bridgingfinance.ca
inquiries@bridgingfinance.ca

Bridging Finance Inc. Provides $10M Facility to a Retail Marketing Company

TORONTO, May 26, 2014 – Bridging Finance Inc. (“Bridging”) recently provided a $10,000,000 accounts receivable facility to a consumer retail marketing company. This facility provided the company with working capital to fund its marketing expenses and to help manage its substantial growth across North America.

 

“Rather than continue to dilute, they were seeking a financing solution that would provide cash flow to meet their everyday needs i.e. payroll, rent, and taxes” says Kevin Westfall, Senior Vice President, Factoring.

About Bridging Finance Inc.

Bridging is a privately held Canadian company with over two years of private investment management experience providing middle-market Canadian companies with alternatives to the financing options offered by traditional lenders. Lending proceeds 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.

 

About Bridging Credit Fund LP

The investment objective of the Fund is to acquire and maintain a diversified portfolio of Factoring Investments and Asset Based Investments. The Fund offers clients yield outside of traditional fixed income investments (i.e. not invested in real estate or bonds) and is non-market linked.

 

For further information please contact us at:

 

Bridging Finance Inc.
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7
(416) 365-6252
1-888-920-9598
www.bridgingfinance.ca
inquiries@bridgingfinance.ca

Bridging Credit Fund LP Announces First Quarter Distribution for 2014

TORONTO, April 16, 2014 – Bridging Credit Fund LP (the “Fund”) is pleased to announce it has declared a quarterly distribution of $2.45 per class A unit of the Fund (“Class A Units”) and class F unit of the Fund (“Class F Units”). The distribution was paid on April 15, 2014 to holders of Class A Units and Class F Units of record on March 31, 2014.

 

The Fund has an 8.61% return (annualized) since inception (November 21, 2013) and is diversified across approximately 500 debtors/holdings.

 

About Bridging Credit Fund LP

The investment objective of the Fund is to acquire and maintain a diversified portfolio of Factoring Investments and Asset Based Investments. The Fund offers clients yield outside of traditional fixed income investments (i.e. not invested in real estate or bonds) and is non-market linked.

 

Key Fund Features

  • Target Minimum Yield Risk Protection: If the Target Minimum Yield of 6.5% per annum is not met, the Manager will waive its portion of the management fee to meet the Target Minimum Yield.
  • Floating Target Minimum Yield: The Target Minimum Yield is a floating target that is adjusted once a year to reflect changes in the Prime Rate. Yield is paid out quarterly to investors.
  • Non Correlated: To traditional asset classes and public markets.

 

For further information please contact:

 

Ian Baele,
Vice President, Sales
Bridging Finance Inc.
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7
1-888-920-9598
ibaele@bridgingfinance.ca

Bridging Credit Fund LP Announces Institutional Investment in the Fund

TORONTO, Canada (March 13, 2014) Bridging Credit Fund LP (the “Fund”) is pleased to announce that a large Canadian wealth management company has made a $2 million purchase of Class-I Units of the Fund. The institutional investment in the Fund was made after the completion of extensive due diligence on Bridging Finance Inc. (“Bridging”) and the Fund.

 

About Bridging Credit Fund LP

The investment objective of the Fund is to acquire and maintain a diversified portfolio of Factoring Investments and Asset Based Investments. The Fund offers clients yield outside of traditional fixed income investments (i.e. not invested in real estate or bonds) and is non-market linked. The Fund has an 8.16% return (annualized) since inception and is diversified across approximately 100 holdings.

 

Key Fund Features

  • Target Minimum Yield Risk Protection: If the Target Minimum Yield of 6.5% per annum is not met, the Manager will waive its portion of the management fee to meet the Target Minimum Yield.
  • Floating Target Minimum Yield: The Target Minimum Yield is a floating target that is adjusted once a year to reflect changes in the Prime Rate. Yield is paid out quarterly to investors.
  • Non Correlated: To traditional asset classes and public markets.

 

For more information on the Fund and Bridging please visit: www.bridgingfinance.ca

 

For further information please contact:

 

Ian Baele,
Vice President, Sales
Bridging Finance Inc.
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7
1-888-920-9598
ibaele@bridgingfinance.ca

Bridging Credit Fund LP (“Bridging”) was featured in the Private Investing section of the Globe & Mail.

PRIVATE INVESTING

Want to buy into timberland? Here’s how to do it

‘Psst! Want to buy some receivables?”

Well, now you can, through a fund for high-net-worth investors that makes factoring and bridge financing its business. Or you can buy a share of timberland (a hot topic at cocktail parties in recent months, wealth managers say), prime commercial buildings or farmland in the U.S. Midwest.
PORTFOLIO MAKEOVER
Video: Janet’s in the top 4 per cent, but her portfolio lacks a plan

TREND SPOTTERS
Investing opportunities in Africa

TREND SPOTTERS
Trend Spotters
Private investing is growing up in Canada. Far from the old notion of alternative strategies being a bit dicey – littered with the bleached bones of failed hedge funds, as it were – some recent offerings had even the biggest investors pushing to get in the door.

Last summer, Brookfield Asset Management flew right past its target of raising $750-million (U.S.) in a fund to buy timberland in the United States, Brazil and Australia. The company closed the Global Timberlands Fund at $1-billion. In October, Brookfield had even greater success with an infrastructure fund, the Brookfield Infrastructure Fund II for big investors, such as sovereign wealth funds, pension plans and insurance companies. It closed the fund at $7-billion, well beyond its initial target of $5-billion.

“We’re seeing a lot of interest in private assets,” says Sam Sivarajan, head of investments and sales at Manulife Private Wealth in Toronto – “commercial real estate, agricultural land, timberland, private mortgages.” The appeal, Mr. Sivarajan says, is that these assets are not correlated to the stock market or interest rates.

“They’re a pretty good buffer, especially in volatile markets,” he says. Long term, they’re a good hedge against inflation. The Manulife Canadian Real Estate Investment Fund gives high-net-worth investors a share in a portfolio of about 20 blue-chip commercial buildings across Canada.

“One of the advantages of buying private assets is that when the market sneezes (or worse), private assets hold their value because they are not traded on a daily basis,” Mr. Sivarajan says.

You don’t have to be a sovereign wealth fund to participate in alternative investments – so called because they provide an alternative to marketable securities such as stocks and bonds – but you do have to be wealthy, or what is called an accredited investor.

In Ontario, for example, an accredited investor is a person who alone or with a spouse has financial assets of more than $1-million or net assets of at least $5-million, or whose net income before taxes surpasses $200,000 alone or $300,000 with a spouse.

Click here for the full article.

Bridging Credit Fund LP Announces Debt Facility with Canadian-Based Junior Exploration Company

TORONTO, December 9, 2013 – Bridging Credit Fund LP (“Bridging”) is pleased to announce that it has closed a $1,000,000 debt facility with a Canadian-based junior exploration company (the “Company”).

 

The loan provided to the Company is secured by a mortgage on the property as well as by a charge on all other assets of the Company.

 

The proceeds of this loan will be used to provide the Company with working capital while the anticipated purchaser of the Company’s surface and timber assets completes its due diligence. This due diligence is currently well underway.

Bridging is a privately held Canadian company providing small and middle-market Canadian and U.S. companies with alternatives to the financing options offered by traditional lenders. Lending proceeds are used by companies to address short-term needs such as restructuring existing debt, providing working finance for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.

 

About Bridging Credit Fund LP

Bridging’s investment objective is to achieve superior risk-adjusted returns with minimal volatility and low correlation to most traditional asset classes.

 

To achieve its investment objective, Bridging invests in an actively managed portfolio comprised of (i) asset-based loans primarily to Canadian and U.S. based companies that have good quality collateral and (ii) factored accounts receivable and inventory financing primarily to Canadian and U.S. based companies and financing of Canadian federal and provincial tax credits.
For further information please contact:

Ian Baele,
Vice President, Sales
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7
1-888-920-9598

Bridging Credit Fund LP Announces November 29, 2013 Net Asset Value Per Share Of $100.11

TORONTO, Canada (December 3, 2013) Bridging Credit Fund LP (“Bridging” or the “Fund”) announces that as at November 29, 2013, the unaudited net asset value per share (“NAV”) was $100.11. The Fund’s inception date was October 21st, 2013 with a starting NAV of $100.00. The Fund anticipates paying a distribution on the last business day of December, 2013.

 

About Bridging

The Fund gives Canadian investors access to a highly specialized asset class with a focus on delivering predictable yield over the long term. The Fund invests in an actively managed portfolio of asset-based loans that have good quality collateral, factored accounts receivable and inventory financing, primarily to Canadian and U.S. based companies. For more information on the Fund please visit: www.bridgingfinance.ca

 

Use of Non-GAAP Financial Measures

NAV is a non-GAAP financial measure calculated as the value of total assets less the value of total liabilities divided by the total number of limited partnership units outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. NAV is calculated as at a particular date and is, by its nature, historical, and may not be reflective of the Fund’s future performance.

 

For further information please contact:

 

Ian Baele,
Vice President, Sales
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7
1-888-920-9598

Bridging Finance launches Bridging Credit Fund LP

TORONTO, October 16, 2013 /CNW/ – Bridging Finance Inc. (“Bridging”) is pleased to announce the launch of Bridging Credit Fund LP (the “Fund”).

 

The Fund will give Canadian investors access to a highly specialized asset class with a focus on aiming to deliver predictable yield over the long term. The Fund will invest in an actively managed portfolio of asset-based loans that have good quality collateral, factored accounts receivable and inventory financing, primarily to Canadian and U.S. based companies. The portfolio of the Fund will include only asset-based loans that are fully collateralized based on liquidation values and/or potential cash flows.

 

The President of Bridging, Natasha Sharpe, has an extensive background in credit, risk assessment and corporate finance with leading Canadian financial institutions. “The Canadian landscape is a difficult one when searching out above average yield” said Natasha Sharpe. “We saw an opportunity to tap into an underserved market in the Canadian business borrowing space and pass along those opportunities to investors” she added.

 

The Fund is targeting an initial minimum yield of 6.5% per annum and incorporates several key features:

 

  • Target Minimum Yield Risk Protection: If the Target Minimum Yield is not met, Bridging will waive its portion of the management fee to meet the Target Minimum Yield.
  • Floating Target Minimum Yield: The Target Minimum Yield is a floating target that is adjusted once per year to reflect changes in the Prime Rate.
  • Low Correlation: Low correlation to traditional asset classes and public markets.

 

The Fund will be offered across Canada through investment dealers pursuant to its offering memorandum via FundSERV.

About Bridging Finance Inc.

Bridging is a privately held Canadian company with close to two years of private investment management experience providing middle-market Canadian companies with alternatives to the financing options offered by traditional lenders. Lending proceeds are used by companies to address short-term needs such as restructuring existing debt, providing working finance for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.

 

SOURCE: Bridging Finance Inc.

 

For more information, please obtain the Offering Memorandum from your dealer or visit us at www.bridgingfinance.ca,

 

Or call 1-888-920-9598 or email inquiries@bridgingfinance.ca:

 

David Sharpe, LLB, LLM, MBA
COO & CCO