Tron-Allied JV Offers Indigenous, Experienced and Integrated Railroad Construction

SASKATOONMay 29, 2019 /CNW/ – Two respected industry leaders have teamed up to create a First Nations-led full-service provider of industrial, civil and railroad construction services to the rail industry across Canada.

Tron Construction and Mining, owned by English River First Nation’s Des Nedhe Group of Companies, and Allied Track Services, an established supplier of track, signal and communications construction and maintenance services, announced their formal joint venture agreement today.

The innovative partnership brings together two companies with a proven record in the core competencies required for rail expansions. The participation of Tron, which is First Nations-owned and has working partnerships with other First Nation entities across the country, also clears a path for increased training, employment and economic opportunity for Indigenous people in this vital segment of Canada’s transportation sector.

“We discovered shared values and natural synergies in our discussions with Allied,” said Anthony Clark, President and Chief Executive Officer of Tron. “Both companies are built on a culture of safety, quality and customer satisfaction. Together, we can leverage each company’s strengths in a meaningful way from coast to coast to coast.”

The rail industry touches or is adjacent to First Nation land in many regions and the Tron-Allied JV is intended to open doors to greater Indigenous participation in rail expansions. Andy Jones, Vice President and Chief Operating Officer for Allied, said the JV reflects the changing face of Canadian industry.

“Over the past 12 months, Tron and Allied have worked together to identify and establish a strong organizational cultural and capacity alignment,” said Jones. “We now look forward to delivering solutions for our clients and the economic benefit of First Nations communities. Once again, Canada’s railways can play a unifying role across a large and diverse country.”

Tron has office locations in Saskatchewan and Ontario and has a demonstrated track record of working with local Indigenous communities across Canada to provide economic benefits through employment and training. Tron was acquired by English River First Nation through Des Nedhe Group in 1997 and, as a national contractor, provides a wide range of construction and infrastructure services to industries ranging from mining and petrochemicals to nuclear power to utilities.

Allied is headquartered in Grimsby, Ontario and provides full-service track and signals and communications construction and maintenance services across Canada.  Allied has an extensive fleet of specialty rail equipment, an experienced workforce and a team of industry veteran managers, that provides construction and maintenance services to customers including Class 1 railroads (e.g. CN and CP), regional and short line railroads and private industrial facilities.  Founded originally in 1987, Allied now operates from offices in OntarioManitobaAlberta and British Columbia, as well as in Texas through its sister company Bottom Line Company, Inc.

Allied is a portfolio company of Bridging Finance Inc. (“Bridging”), a Toronto-based asset manager with $1.5 billion in assets and a significant portfolio of Indigenous projects across Canada. Bridging has recently launched a socially responsible fund geared towards investing in Indigenous businesses and communities. “We are very proud to support this partnership and believe it to be unique to the rail industry in Canada,” said David Sharpe, CEO of Bridging.

For further information: TRON, Anthony Clark, President and Chief Executive Officer, 306.652.4989, www.troncm.com; ALLIED TRACK, Andy Jones, Vice President and Chief Operating Officer, 905.769.1317, www.alliedtrack.ca

First Nations to partner in state-of-the-art cannabis operation

Mi’kmaq bands to be principal players in new, multi-million dollar cannabis operation

30 jobs in every First Nations community
– In the midst of a national and provincial media frenzy surrounding the legalization of cannabis in Canada, Nova Scotia welcomes the newest entry in the cannabis “gold rush”, as AtlantiCann Medical, Inc, (AMI) unveils its swanky, 48,000 square foot, state-of the-art facilities in Lower Sackville Monday afternoon. The thirteen First Nations bands represented by the Nova Scotia Assembly of Mi’kmaq Chiefs has an agreement in principal for a majority equity interest in the project.

$20-35 million production: 50+ jobs
The multi-million dollar operation is designed to produce sales of $20 million or more per year during its start-up period, growing to $35 million or more in phase two, which will use 68,000 square feet of space. The facility is expected to provide up to fifty full-time technical jobs at $25-30,000 per year, plus a smaller number of seniors positions with salaries up to $100,000 per year.

After an invitation in 2013 from Town Councilor Roy O’Donnell to locate its home base in Shelburne, original plans were set in gear to use the former Boy’s School site in the adjoining Municipality, but conflicts with the municipal warden and council led AMI president Chistine Halef and her father – successful Halifax developer Besim Halef – to abandon those plans and re-locate to a business park property in Sackville already owned by the senior Halef’s BANC Properties. BANC is also a primary partner in the cannabis venture.

Final details being ironed out
Although project partners have told SCT that “final details have not been ironed out”, the Assembly of Mik’maq Chiefs have what several sources have described as “an agreement in principal” for a majority equity interest in AMI, based on a model employed in other cannabis ventures in Manitoba and Ontario. A news release from AMI Monday says that a letter of agreement ad memorandum of understanding has been signed by all parties. The financial deal with the Halefs, GrowForce/Mjardin and the thirteen Nova Scotia First Nations bands represented by the Assembly was put together by lawyer David Sharpe, through his firm, Bridging Finance Inc. Sharpe is an active member of the Mohawks of the Quinte Bay in Ontario.

“We are pleased to be able to work toward having the AMI and GrowForce teams as partners in the cannabis industry,” said Chief Terrance Paul in the news release. “As we work toward creating better opportunities for the Mi’kmaq of Nova Scotia, it is clear how partnering with these two pillars in the industry would be beneficial for all parties.”

390 new jobs in First Nations communities?
Chief Mike Sack of Sipekne’katik band and cannabis portfolio leader for the Assembly, told reporters that the deal with AMI and Growforce would also result in 30 people being employed at marijuana growing operations in every First Nations community in the province. From those bands represented by the Assembly, this would result in at least 390 new jobs.

Cannabis as the “new buffalo” for First Nations?
“First Nations participation in what will be a massive industry is like the new buffalo,” Sharpe told SCT, referring to the role that massive herds of buffalo played in the survival and prosperity of First Nations bands in Canada prior to the twentieth century.  He says that at least twenty-five per cent of Bridging Finance funding projects involve First Nations communities.

Sharpe has executed cannabis-related financing ventures for the Pequis First Nation in Manitoba and, according to a news release from Pequis, has created a joint venture to establish a partnership in a cross-Canada expansion.

Economic reconciliation
He told SCT that First Nations participation in what is certain to be a huge cannabis industry is part of seeing that First Nations communities are given free and fair access to capital resources as part of what he defines as “economic reconciliation.”

Millbrook First Nation
One of the Assembly partners is the Millbrook Band, led by chief Robert Gload, who told SCT in an interview that Millbrook is also partnering with Zenabis Corporation, in cannabis projects in Stellarton, New Brunswick and British Columbia. BC-based Zenabis is seen as a Canadian “giant” in the industry and has also developed partnerships during the past year to produce edible cannabis products, as well as cannabis-infused beverages.

Four years in the making
AMI was originally conceived by Christine Halef as a provider of medical cannabis, but will benefit greatly from the recent legalization decision by the Liberal government. The four-year process of negotiating with Health Canada and planning the impressive facility was lead for four years by AMI vice president and economic development specialist Adelard (Ed) Cayer, whose equity interest in the firm was purchased by BANC in June of this year. Cayer remains as a vice president and is advising the firm during the start-up period.

GrowForce/Mjardin
In June, AMI was negotiating a partnership with Growforce, Inc, an international “sister company” to USA-based Mjardin, which claims to be North America’s largest producer of legal cannabis, resulting in more than 125,000 kilos of “finished product” to date. Both GrowForce and Mjardin are headed by Rishi Gautam, whose entry into the world of commercial cannabis began as an investor in businesses in Colorado, which grew out of the legalization of cannabis there.

Canadian cannabis platform
GrowForce describes itself as a “Canadian-based Cannabis platform” operating within Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR) and now within the legal recreational cannabis regime. The company owns a majority interest in flagship Cannabis facilities operated through ACMPR, and through Mjardine,  provides turnkey operations, proprietary software and training, and project financing.

Mjardin, according to Gautam,  will be contracted to “manage the assets” of AMI, including overseeing cultivation, production and retail of the operation. Gautam has announced that Mjardin is expected to go public this fall.

Still waiting for govt approvals
AMI is awaiting approval of a license to cultivate and sell from Health Canada, which is the next step in the approval process, according to Christine Halef, who says that the firm has submitted their “evidence package” to the government and expects to receive an approval in a short time.

Mjardin University
Halef says she is very pleased with the “top-notch” facility her firm has built and is “quite excited” to be part of the production of a safe cannabis product, which she says is likely to eliminate at least part of the black market sales of marijuana. She says she is especially impressed with the online training module developed by Mjardin – and named Mjardin University. “Everyone who works at AMI will have access to the best training available,” she added.

“This partnership enables AMI to leverage GrowForce’s decade-long experience in cannabis cultivation, and will ultimately help the Mi’kmaq of Nova Scotia enter into this industry.  Together, we will bring premium medical and adult-use cannabis products to the market and advance the use of legally produced medicinal marijuana products to help patients cope with their ailments.”

Full article here

GrowForce, Mi’kmaq Chiefs and AtlantiCann Medical Inc. Open Maritime Cannabis Cultivation and Extraction Facility

HALIFAX, Nova Scotia & TORONTO– A new, state-of-the-art cannabis cultivation and extraction facility has opened in Halifax. GrowForce, a Canadian-based company that operates a complete seed-to-sale cannabis platform under Health Canada’s Cannabis Act, and Halifax-based AtlantiCann Medical Inc. (AMI), a licensed producer and member of the BANC group of companies, announced the opening of their newly built, 48,000 sq ft facility at the official ribbon cutting ceremony.

The event marks a significant step in bringing Canada’s fastest growing sector to Nova Scotia’s capital. To show support and provide greetings will be The Honourable Lena Metledge Diab, Minister of Immigration, Chief Terrance Paul, Co-Chair of the Assembly of Nova Scotia Mi’kmaq and Chief Mike Sack, Cannabis Portfolio Lead for the Assembly of Nova Scotia Mi’kmaq.

“The joint-venture give us a strong foothold in Atlantic Canada as part of our coast-to-coast growth plan, expanding our portfolio through collaboration with key partners like AMI, Bridging Finance and the Mi’kmaq of Nova Scotia, while supporting the economic development of the local communities where we operate,” says Rishi Gautam, Chairman and CEO of GrowForce. “Furthermore, GrowForce’s uncompromising commitment to product quality and innovation is perfectly matched with the extensive pharmaceutical background of AMI, as we work together to develop new high quality cannabis products.”

The Assembly of Nova Scotia Mi’kmaq Chiefs have recently signed a letter of intent and memorandum of understanding with GrowForce and AMI creating a pathway for the Assembly to participate in the cannabis industry.

“We are pleased to be able to work towards having the AMI and GrowForce teams as partners in the cannabis industry,” said Chief Terrance Paul. “As we work towards creating better opportunities for the Mi’kmaq of Nova Scotia, it is clear how partnering with these two pillars in the industry would be beneficial for all parties.”

To further elevate their medicinal cannabis offerings, GrowForce is also collaborating with universities on R&D initiatives to advance medical research, including: pre-clinical and clinical studies.

“This partnership enables AMI to leverage GrowForce’s decade-long experience in cannabis cultivation, and will ultimately help the Mi’kmaq of Nova Scotia enter into this industry. Together, we will bring premium medicinal and adult-use cannabis products to the market and advance the use of legally produced medicinal marijuana products to help patients cope with their ailments,” said Christine Halef, President of AtlantiCann Medical Inc.

The Lower Sackville facility is expected to expand further beyond this initial phase, with the companies working diligently to add 20,000 square feet of flower room and increase production capacity in the near future. The companies are also expecting to obtain a sales license in early 2019. Currently, AMI plans to fill 24 new positions in the facility and increase its workforce as needed.

“We are thrilled about the future, as both companies share similar vision and commitment to invest in this community and support its economic prosperity,” adds Christine Halef.

David Sharpe, CEO of Bridging Finance Inc., 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 AtlantiCann Medical Inc.

AtlantiCann Medical, Inc. (AMI) was founded in 2013 with an application submitted under the MMPR program with the primary objective of advancing the uses of medicinal cannabis. Since then the 48,000 square foot facility, located in Lower Sackville, NS has completed construction and is on the cusp of receiving a cultivation license from Health Canada. AMI has partnered with GrowForce, a company with extensive experience in producing cannabis. With their combined knowledge and experience in cultivation and pharmaceuticals, they will strive to provide excellence, reliability and innovation in this burgeoning sector.

About the Assembly of Nova Scotia Mi’kmaq Chiefs

The Assembly of Nova Scotia Mi’kmaq Chiefs is comprised of all 13 Mi’kmaq Chiefs in Nova Scotia and is the highest level of collective governance for the Mi’kmaq of Nova Scotia.

Contacts

Media:
AMI:
Quantum Communications
Donalee Moulton, 902-443-9600
quantum@eastlink.ca
or
GrowForce:
ICR
Cory Ziskind, 646-277-1232
cory.ziskind@icrinc.com
or
Mi’kmaq Rights Initiative:
Crystal Dorey, 902-843-3880
crystaldorey@mikmaqrights.com

Full Article: here

Bridging Finance Inc. and MJardin Announce Strategic Partnership To Establish Premier Infrastructure Financing Fund

Bridging Finance Inc. (“Bridging Finance”) and the MJardin Group (“MJardin”) are pleased to announce that they have entered into an agreement to establish an infrastructure fund, which will have a particular focus on private debt lending related to infrastructure and consolidation of entities within the cannabis sector.

The partnership brings together two of the most respected names in the private debt lending field and the cannabis sector. Bridging Finance is known as a leading provider of non-distressed private debt financing in Canada and has established itself as a leader in private debt infrastructure financing to First Nations. For its part, the privately held MJardin is known as a leading management company operating more licensed cultivation, processing and retail facilities than any other party in this sector throughout North America. Rishi Gautam, Chairman and Chief Executive Officer of MJardin, is well versed in this sector and brings over 15 years of previous experience in the investment industry having held various roles at Goldman Sachs, Lehman Brothers and Barclays.

“We are very pleased to establish a strategic partnership with MJardin,” said David Sharpe, Chief Executive Officer of Bridging Finance. “We have built a close relationship with MJardin’s leadership team and admire its best-in-class operating capabilities and ability to create value for the facilities it manages. Bridging Finance will contribute capital, deal flow and enterprise-building resources to help leverage MJardin’s operating expertise across North America. We also believe this sector represents a tremendous opportunity for various First Nations throughout Canada and we look forward to working jointly with MJardin and First Nations in order to bring these opportunities to fruition and create wealth and employment,” added David Sharpe.

“Partnering with Bridging Finance allows us to leverage the considerable strengths of both of our organizations,” said James Lowe, Co-Founder, Director and Chief Cultivation Advisor of MJardin. “Natasha Sharpe (Chief Investment Officer of Bridging Finance), David Sharpe and the entire Bridging Finance team have demonstrated keen judgment, innovative vision and have established themselves as leaders in the private debt sector in Canada. We look forward to working with Bridging Finance and expanding our existing platform throughout North America while preserving a hands-on, curated approach to managing the entire spectrum of licensed facilities. We also look forward to working collaboratively with various First Nations and assisting them in capitalizing on the great opportunities that lie ahead,” added James Lowe.

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.

For further information on MJardin:
Paul Wilken, MJardin Group: paul.wilken@MJardin.com, +1.720.613.4019

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.

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 the hire of Robert Cacovic, Senior Managing Director


TORONTOSept. 26, 2017 – Bridging Finance Inc. (“Bridging Finance” or the “Company”) is pleased to announce the appointment of Mr. Robert Cacovic as Senior Managing Director of Bridging Finance Inc., joining its deal team and based in Vancouver.

Mr. Cacovic is an accomplished commercial banker who brings nearly fifteen (15) years of banking experience with him to Bridging Finance. Mr. Cacovic has previously held several roles at a top tier Canadian Bank, most recently as Sales Manager where he was accountable for the growth of a book of business in excess of $2.3 Billion.

“Bridging Finance is very pleased to have Mr. Cacovic join its team and is very well positioned for the continued growth and success of its operations. Having held positions in VancouverCalgary and Toronto, Mr. Cacovic’s experience makes him an ideal candidate to expand and grow the Company’s presence in Western Canada,” said David Sharpe, Chief Executive Officer of the Company.

“I am thrilled to be joining the team at Bridging Finance and eager to apply my knowledge and expertise of the mid-market in order to continue the Company’s growth in Western Canada. Having repeatedly established itself as one of Canada’s premier private debt lenders, Bridging Finance is poised for continued success and I look forward to assisting the Company in this exciting phase,” added Robert Cacovic.

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 upwards of $50,000,000, 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 to the Sprott Bridging Income Fund LP and the Sprott Bridging RSP Fund. The Fund invests in factoring/private debt loans that have a low correlation to traditional asset classes. This asset class has traditionally been difficult for individual investors to access. Bridging Finance also offers portfolio management services for institutional clients. Bridging Finance manages approximately $600 million of assets.

Bridging Finance Inc. Appointed Co-Manager

 

Bridging Finance Inc. (CNW Group/Bridging Finance Inc.)

Bridging Finance Inc. (“Bridging Finance“) is pleased to announce changes to the management of the Sprott Bridging Income Fund LP and the Sprott Bridging Income RSP Fund (the “Funds“). Following SPR & Co. LP’s successful purchase of the Canadian diversified assets from Sprott Asset Management LP (the “Transaction“), the general partner of the Funds has appointed each of Bridging Finance and SPR & Co. LP as co-managers to provide portfolio management, administrative and other services to the Funds.

“We are pleased to support the Transaction and become the co-manager of the Funds. It is important for the enterprise valuation of Bridging Finance and we look forward to working with the Managing Partners of SPR & Co. LP, John Wilsonand James Fox, along with the rest of their team. It will be business as usual in managing the portfolio in an effort to provide consistent, non-correlated yield to investors”, said David Sharpe, Chief Executive Officer.

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 upwards of $50,000,000, 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 to the Sprott Bridging Income Fund LP and the Sprott Bridging RSP Fund.

For further information: David Sharpe, LLB, LLM, MBA, Chief Executive Officer, Bridging Finance Inc., T: (416) 362-6252 | C: (647) 981-5658, dsharpe@bridgingfinance.ca

Mohawk grad’s gift creates award for Indigenous law students at Queen’s

David Sharpe, Law’95, has been helping Queen’s Law reach out to Indigenous JD prospects for the past four years as a volunteer ambassador. Now he has bolstered that support with a generous $50,000 gift, creating The David Sharpe Indigenous Law Student Award for upper-year studies.

Sharpe, CEO of Toronto’s privately held lender Bridging Finance Inc. and Chair Emeritus of the Board of Governors for First Nations University of Canada, says, “It is a pleasure and an honour to be able to share in Queen’s commitment to making higher education more accessible to Indigenous students.”

The award, valued at $10,000 for each of the next five years, will be given on the basis of students’ contributions to the law school or broader university community to enhance understanding and respect for Indigenous knowledge, culture, governance and perspectives on law, as well as good academic standing and general proficiency in JD studies. Two students may share the award after completion of first or second year of the JD program.

Following University Senate approval, the first Sharpe Award recipient(s) will be selected in the summer of 2017.

“This award will be of tremendous assistance to our Indigenous students in Law,” says Heather Cole, Law’96 (Artsci’91, MPA’00), Assistant Dean of Students. “Queen’s Law has made a strong commitment to recruiting more Indigenous students and creating a law school that supports diversity and cultural awareness and understanding. We are grateful to alumni like David Sharpe who support these efforts.”

In a timely law course he developed especially for his alma mater and introduced last winter, Sharpe also began teaching students how to negotiate in a First Nations context. (See the David Sharpe profile “Indigenous law involves all law” in 2017’s Queen’s Law Reports.)

“Queen’s is developing solid Indigenous leaders,” says Sharpe, a member of the Mohawks of the Bay of Quinte in Ontario. “I am committed to assisting with this endeavour and honouring the Calls to Action outlined in the Truth and Reconciliation Commission Report.”

By Lisa Graham

Full article: link

Bridging is proud to finance Davie – Davie Shipbuilding unveils the largest naval ship ever delivered from a Canadian shipyard

LEVIS, QC, July 20, 2017 /CNW Telbec/ – Today, Canada’s largest and most experienced shipbuilder unveiled the Asterix, the first large naval ship to be built in Canada in over 20 years. Davie’s 1,369 staff together with over 900 Canadian suppliers spent just under 2 years delivering the Resolve-Class naval support ship which will enter into service with the Royal Canadian Navy by the end of this year as initially planned.

The Resolve-Class naval support ship will be the largest naval platform in service with the Royal Canadian Navy for the foreseeable future and will provide a wide range of functions from at-sea replenishment of fuels and cargo to aviation support, fleet medical support and humanitarian and disaster relief.

This program involves three levels of innovation for Canada allowing the delivery of a most needed ship in a timely manner and with the best value for Canadian taxpayers. Firstly, instead of building a ship from new, a modern containership has been converted into a state-of-the-art naval support ship. Secondly, the ship has been privately financed by Davie and will be leased to Canada – that means a fixed, transparent cost to the Canadian taxpayer. Thirdly, Federal Fleet Services, Davie sister company, will operate the ship with a mixed crew of merchant seafarers and Royal Canadian Navy personnel.

Today’s unveiling of the ship – which also underlines Canada’s 150th anniversary – included an employee appreciation for the Chantier Davie Canada Team as well as a Family Day, a blessing for the ship by the Huron-Wendat Nation and VIP tours onboard.

The traditional breaking of the sacrificial champagne bottle on the bow by the sponsor of the ship in order to bless the ship and her crew was performed by Her Honour Mrs. Pauline Théberge, spouse of His Honour the Honourable J. Michel Doyon, the Lieutenant Governor of Quebec.

Speakers at the event included:

  • The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development
  • Vice-Admiral Ron Lloyd, Commander of the Royal Canadian Navy
    Jean D’Amour, Minister of Maritime Affairs
  • Gilles Lehouillier, Mayor of Lévis
  • Jacques Létourneau, President, Confédération des syndicats nationaux (CSN)
  • Alex Vicefield, Chairman of Davie

Full article: link

Bridging Finance Announces Recent Transactions

Bridging Finance Inc

Bridging Finance Inc. (“Bridging Finance”) is pleased to announce a sample of recently completed transactions since the beginning of its fourth quarter (Q4) in 2016.

In Q4 of 2016 and Q1 of 2017, Bridging Finance has had several successful exits and has completed over $185,000,000 in new commitments to mid-market companies from various sectors throughout Canada and the United States. “We are very pleased with our continued growth in solidifying our spot as one of Canada’s premier private debt lenders” said David Sharpe, Chief Executive Officer of Bridging Finance.

“Our ability to act quickly and provide flexibility to borrowers has permitted Bridging Finance to experience robust lending opportunities to numerous Canadian mid-market companies seeking alternative capital where traditional sources of debt financing may not have been available” added Sharpe.

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 upwards of $50,000,000, 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 Sub-Advisor to the Sprott Bridging Income Fund LP.  Bridging Finance also offers portfolio management services for institutional and family office clients.

Full Article: www.newswire.ca

Bridging Finance Inc. was mentioned by The Conference Board of Canada as a private financial institution that supports Aboriginal participation in major infrastructure projects.

The Conference Board of Canada, 19 pages, February 6, 2017
Briefing by The Centre for the North

8489New financing ideas and approaches to procurement are being brought forward to close Canada’s Northern and Aboriginal infrastructure gaps. This briefing presents a high-level action plan incorporating these new solutions.
Document Highlights
Canada’s declining and deferred investments in public infrastructure are the focus of national concern. The backlog of investments, is particularly acute among Canada’s Northern and Aboriginal communities. To better address Northern and Aboriginal infrastructure gaps new solutions are needed that integrate public and private sector resources and solutions, and pay closer attention to unique Northern and Aboriginal realities.

The recent joint roundtable hosted by The Conference Board of Canada and The Canadian Council for Public-Private Partnerships (CCPPP) brought together over 30 experts from the public and private sectors to share both Aboriginal and non-Aboriginal perspectives, and discuss how new approaches to procurement and financing could help close the gaps. Rethinking Infrastructure Financing: Canada’s Northern and Aboriginal Communities provides an overview of the roundtable discussion, highlights the knowledge shared by our experts, and presents a high-level action plan for moving forward to close the gaps.

Click here for the full article.

Bridging Finance Inc. Announces Appointment of New CEO

bridging_finance_incTORONTO, Dec. 15, 2016 /CNW/ – Bridging Finance Inc. (“Bridging” or the “Company”) today announced the appointment of David Sharpe as Chief Executive Officer (“CEO”) and Ultimate Designated Person (pending regulatory approval) of the Company, reporting to the Chair of Bridging’s Board of Directors (the “Bridging Board”). In the view of the Bridging Board, the Company is at a crucial stage in its growth as a leading provider of alternative financing solutions and Mr. Sharpe’s appointment is expected to result in a continued focus on expanding Bridging’s existing lending and asset management business.

Mr. Sharpe succeeds Dr. Natasha Sharpe who shall remain as Chief Investment Officer (“CIO”) of the Company. Dr. Sharpe will also retain her position on the Bridging Board.

“I look forward to continuing to lead the growth of the company.” said Mr. Sharpe. “It is imperative that Natasha focus solely on her CIO duties to ensure that we continue to have solid corporate performance through this growth phase and beyond”.

Mr. Sharpe has been a veteran of the financial services industry for over 20 years. Prior to his appointment as CEO, Mr. Sharpe served as President and Chief Operating Officer of the Company.

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 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 Sub-Advisor to the Sprott Bridging Income Fund LP.  Bridging Finance also offers portfolio management services for institutional and family office clients.

SOURCE Bridging Finance Inc.

For further information: Andrew Mushore, Chief Compliance Officer, Bridging Finance Inc., 77 King St W, Suite 2925, Toronto, ON, M5K 1K7, T: (416) 362-6252

Click here for the full article.

Elsipogtog First Nation opens Commercial Centre with Loblaw’s and Pharmasave

Canada NewsWire

ELSIPOGTOG FIRST NATION, NB, Oct. 28, 2016

20161028_c7796_photo_en_806612

New revenue, employment and economic development opportunities

ELSIPOGTOG FIRST NATION, NB, Oct. 28, 2016 /CNW/ – The Usand Group (Usand) offers its congratulations to Elsipogtog First Nation (Elsipogtog) on the grand opening of their new River of Fire Grocery Store and Pharmacy. This has been a long journey for Elsipogtog, who have dreamt for years of opening a grocery store in their home community to better serve their membership. With the closest grocery store located 12km away, Elsipogtog community members had to travel  distances to get groceries and prescriptions, leading to increased costs and a higher demand on time to fulfill basic needs.

With the new grocery store and pharmacy located on reserve, the Band members and neighboring  communities are able to save time and money procuring their groceries and prescriptions. Moreover, having the business owned and operated by the Band means that the revenue generated stays in the community.

As Chief Arren Sock notes, “The fact that we are going to grow our own business means over 50 new jobs for community members, which increases their personal wealth and prosperity and  also provides new revenue for the community. As the business grows and becomes more profitable, it will allow us to tackle new and exciting social and economic development projects. You can literally feel the positive momentum created by the store opening, and we are already discussing what will be the next step forward for Elsipogtog.”

The Commercial Center financing was arranged in partnership with The Usand Group – a capital firm based in Winnipeg, MB that specializes in Indigenous finance. “So many essential projects, such as this grocery store, are delayed or prevented due to the difficulty in First Nations, Inuit and Métis groups accessing adequate capital.” notes Sean McCoshen, CEO of Usand. “With Elsipogtog, we knew that the need was there, the business plan was very strong, and that if they were just able to get the financing quickly to get the project started, that it would succeed – and clearly it has! So we arranged a bridge loan through Bridging Finance Inc. out of Toronto to ensure  they could get the building up and start serving the community.”

“The financing we provided helped to jumpstart development,” says David Sharpe, President of Bridging Finance Inc and member of the Mohawks of the Bay of Quinte. “We could not be more proud to have partnered with Elsipogtog and Usand on this project, and to see Canada’s first Pharmasave owned and operated by a First Nation open to the public.”

About The Usand Group

The Usand Group is a capital firm that secures innovative and customized financial solutions for First Nation, Inuit, and Métis communities. Working alongside community members every step of the way, Usand collaborates to find financial solutions that fit the needs, capacity and strengths of each nation. These solutions are designed to enhance the financial and social wealth of the community and create a sustainable path to full participation in the global economy.

SOURCE The Usand Group, Head Office

 

Copyright CNW Group 2016

Click here for the full article.

Law’95 alumnus sends First Nations youths’ spirits soaring at national summit

(July 11, 2016)

idoia-arana-beobide_douglas-cardinal_sharpe-credit-gustavo-corujo-edit400x267Idoia Arana-Beobide, Douglas Cardinal, and David Sharpe, Law’95, on stage at the 2016 Hadfield Youth Summit. (Photo by Gustavo Corujo)
Thanks to the efforts of a Queen’s Law alumnus, First Nations youth have seen unprecedented involvement in an exclusive Canadian leadership event.

In its 2016 iteration, the Chris Hadfield Youth Leadership Summit – a growing event where young Canadians meet and mingle with Canadian astronauts and pilots – saw 200 First Nations youth among its approximately 1000 participants. The Summit, taking place in Gatineau on June 30, has been an annual event for the past three years, started by astronaut Hadfield as a single-day event dedicated to creating a “truly exciting day of inspiration and leadership development… that can change the life of a young person.”

“I first heard about the event through some connections with the Hadfields, such as Peter and Mike McGann,” explains Law’95 alumnus David Sharpe, President of Bridging Finance, Aboriginal Ambassador for Queen’s Law and Chair of First Nations University of Canada. “I’ve also been involved in bringing Canada’s two active astronauts, David Saint-Jacques and Jeremy Hansen, to meet First Nations youth in Saskatchewan. I’d brought Jeremy to the First Nations University pow-wow in Regina, where he was a huge hit and also toured some First Nation schools wearing his flight suit and really amazed the youth there.”

When he met with the CEO of the host organization – Peter Allen, of Vintage Wings in Ottawa – at a talk by National Chief Perry Bellegarde in Toronto, Sharpe learned that of the 750 Summit attendees in 2015, none were from First Nations communities. “I took that as a challenge,” Sharpe says. “I went to some of our First Nations leaders across the country, and found lots of them willing to commit to this event – to sending kids to be involved in this summit with the Hadfield family, the Snowbirds – telling them if they could find the kids, I could find the funding. They found the kids, and we found the funding.”

The funding, in turn, was provided by private corporations with First Nations interests. “CIBC and Carillion both really stepped up,” Sharpe explains. “There were great people at both companies who strongly believed in this project and the value of their partnerships with First Nations corporations. We even found funding to make sure everyone could stay over in Ottawa for Canada Day, which was really special.”

It was a proud moment for Sharpe, and a transformative one for all the Summit attendees, regardless of background. National Chief Bellegarde gave an inspiring talk to the youth and reminded them that ‘you do not have to be elected to be a leader.’ “To me, this is reconciliation. First Nation kids should be meeting these air cadets and other youth, people they might normally never have a chance to get to know,” Sharpe says. “And it works both ways; it’s so important for young people from all over the country to meet First Nations kids and realize that Aboriginal youth are just kids like them who want to succeed and be the best that they can be despite challenges.”

One moment stands out as a testament to the power of the event. “Picture a thousand kids, with 300 VIPs, the Commander of the Air Force, Snowbirds, astronaut Dave Williams – they’re all there. We brought Douglas Cardinal in, the acclaimed First Nations architect, to address the kids, and he stood up with his partner Idoia to sing a traditional song. They sang a sacred song to them and Douglas played the hand drum; something hundreds and hundreds of years old. And all the First Nations kids stood up as a sign of respect for their elder, and then everyone else got up as well. It gave me goosebumps,” Sharpe says.

Events like this, Sharpe says, are only the beginning. “Talking to Astronaut Jeremy Hansen, it would be a dream to find an indigenous astronaut,” Sharpe says. “I like to tell youth that if you keep working and keep trying, the sky’s the limit – and maybe that will be the literal truth for them someday soon!”

Click here for the full article. More pictures

2016 Hadfield Youth Leadership Summit – Special Event

Location
Vintage Wings of Canada
1699 Arthur Fecteau
Gatineau, QC
J8R 2Z9

hadfieldThe 3rd Annual Hadfield Youth Leadership Summit will return to Gatineau on June 30th . This truly exciting day of inspiration and leadership development will again be open for all member’s of Vintage Wings of Canada and their invited youth guests to purchase tickets. Members of the Air Cadet League of Canada, Christie Lake Kids, the Salvation Army, members of the First Nations communities of Ontario and the Grands Frères Grandes Soeurs de l’Outaouais among other valuable community groups who will also participate.
On Thursday, June 30, 2016, Vintage Wings of Canada will host retired Canadian Space Agency Astronaut Dr. Dave Williams, his wife and Air Canada 767 Captain Cathy Fraser and Kelly Hadfield. Also invited is Perry Bellegarde, National Chief of the Assembly of First Nations, along with other prominent Canadians. The Canadian Forces Snowbirds and the BCATP 75th Anniversary CF-18 Demonstration Hornet fighter jet team will be honoured guests at this event. This once-in-a-lifetime event is a coming together of some of Canada’s accomplished and inspirational leaders to provide an inspirational one day forum for over 1,000 young Canadians.
The Summit starts at 08:30 on June 30th at Vintage Wings of Canada and admission is by prior registration only, tickets will not be available at the gate. Registration for the event includes the Summit, a lunch in the youth VIP tent and flight line viewing of the Wings Over Gatineau Airshow which starts at 12:00 noon and ends at 4pm. For details on the Airshow go to www.wingsovergatineau.ca

We are ever grateful for Chris Hadfield’s participation in all our activities, but with regrets he will be unable to be physically present during this year’s Hadfield Summit, though he will be able to connect with us via video.
Dr. Dave Williams
Astronaut & President/CEO Southlake Regional Health Centre
After joining the Canadian Space Agency in 1992, Dave made two flights on the Space shuttle in 1998 and 2007. He amassed more than 687 hrs in orbit and set a record 17 hrs 47 minutes doing spacewalks (EVAs), some of which included installation work on the International Space Station. In addition to his role as astronaut, Dr. Williams held the position of Director of the Space and Life Sciences Directorate at the JSC in Houston, Texas, and a concurrent appointment as the Deputy Associate Administrator for Crew Health and Safety, Office of Spaceflight, NASA HQ, Washington, DC.

Cathy Fraser
Six months after learning how to drive, Cathy started her flight training and since then has accrued over 20,000 hrs flying time and is currently a Boeing 767 Captain for Air Canada flying routes nationally and internationally. She was the 13th woman hired by Air Canada as a pilot and one of 30 female captains with the airline. Cathy is on the board of the Elsie Magill Northern Lights award that honours women in aviation and aerospace and a volunteer with Dreams Take Flight that takes underprivileged children to Disneyworld every year.

Kelly Hadfield
Founder of Ghana Medical Help and niece of Commander Chris Hadfield, will give a truly inspiring talk about what it takes to create organizations that help people both near and far while being a high school and university student. When she was 21, Kelly travelled to Ghana for the first time, and out of doing so founded Ghana Medical Help, an international charity aimed to alleviate suffering and improve health outcomes in rural Ghana. Today, this Canadian charity supports the health care for over two million people in northernmost Ghana through an array of diverse projects targeting equipment and training for 14 rural hospitals, public health education and poverty alleviation.

Perry Bellegarde
Perry Bellegarde was named Assembly of First Nations National Chief on December 10, 2014. He has spent his entire adult life putting into practice his strong beliefs in the laws and traditions instilled in him by the many Chiefs and Elders he has known over the years. Passionate about making measureable progress on the issues that matter most to First Nations people, National Chief Bellegarde is a strong advocate for the implementation of Inherent Aboriginal and Treaty Rights. Widely known as a consensus builder with a track record of accomplishment, he brings community people, leaders, Chiefs and Elders together to focus on working cooperatively to move issues forward.

Admission to this event is in very high demand so bracelets are available only to fully paid-up, Student, Individual and Family memberships for a fee of $50/person (members & one youth guest 12 – 18 yrs old). This $50 fee will include lunch under a marquis tent and admission to our Wings over Gatineau Airshow during the afternoon. Summit tickets must be purchased in advance…they will not be available for sale at the gate.

Members and their invited youth guest are encouraged to present themselves at the members check-in at the VW hangar between 0800 hrs and 0830 hrs to receive their bracelets. Please have your membership card in hand at the time of check-in.
Please note that Student members may attend singly, but not with a guest. Family memberships entitle all registered family members (to a maximum of 4) to attend. Each Individual and Family membership entitles the holder to one additional youth guest (must be between the ages of 12 and 18).

Date
Jun 30, 2016 08:30 – 12:00
Register For this Event
This event has passed. Registration is not permitted for this event at this time.

For More Information
-Call 1-819-669-9603
-e-Mail events@vintageWings.ca

Click here for the full article.

Manitoba First Nation to build 30 mould resistant homes for $9M

Misipawistik Cree Nation’s homes designed by world-renowned architect Douglas Cardinal
By Laura Glowacki, CBC News Posted: May 11, 2016 8:58 PM
hydro-native-dealMisipawistik Cree Nation Chief Harold Turner said many homes in the community have mould problems because of their proximity to open water year-round. (Winnipeg Free Press/CP)

Misipawistik Cree Nation (MCN) near Grand Rapids, Man. says it has purchased 30 new mould and fire resistant homes designed by world-renowned architect Douglas Cardinal.

MCN Chief Harold Turner said the community took out a $9 million loan to pay for the prefabricated homes he hopes will solve a long-standing issue in the community.

The facts on mould
“The main thing for us here in Grand Rapids is the mould issue,” said Turner. “All our houses are subject to mould because the river here never freezes.”

Every year, Turner said, houses in MCN have to be gutted to clear out black mould.

carinal-housesThe Cardinal House designed by Douglas Cardinal has three bedroom plus a smaller fourth room that can be converted into a bedroom for a small child. The pre-fabricated homes are resistant to both mould and fire. (www.djcarchitect.com)

 

The spores can cause a number of respiratory issues including coughing, allergic reactions and symptoms of asthma, according to Health Canada. Mould can be especially harmful for children and the elderly.

Ottawa-based architect Douglas Cardinal, whose father was Anishinaabe, calls moulds the “silent killers” in Canada’s First Nation communities.

“We’re creating extremely unhealthy houses,” he said. “They’re built so badly.”

One of the main problems Cardinal sees in conventional prefabricated homes in remote communities is condensation build-up along vapour barriers which line insulation in the walls. Humidity builds up along the plastic which leads to mould growth, he said.

Cardinal, known for his work designing buildings such as the Canadian Museum of History in Gatineau, Quebec and Thunderbird House in Winnipeg, has designed a prefabricated home that differs in many ways from convention.

His “Cardinal House” design uses cross-laminated timber (CLT) as the principal building material.

CLT is an environmentally sustainable, sturdy material made from gluing wood together. It’s replacing concrete and steel in many new building constructions in Europe, he said.

Laurentian School of Architecture built with cross-laminated timber

“The timber structures like this are lighter than concrete or steel but because they’re heavy timber construction, they’re even more fireproof,” Cardinal said.

black-mouldDoulgas Cardinal hopes by removing basements from his pre-fabricated home design it reduces the chance of black mould such as this. (Allison Dempster/CBC)
Each three-bedroom Cardinal House costs between $250,000 to $300,000 depending on where it’s assembled, he said. They are easily shipped to remote communities and can be put up with minimal training.

The mould-resistant design was inspired by Cardinal’s work building the Canadian Museum of History which has to maintain a 50 per cent humidity level to preserve artifacts and therefore had to be mould resistant, said Cardinal.

The architect also removed a basement from the house design because, he said, basements can lead to increased humidity as well as radon gas in the home. He enlisted the help of a bridge designer to insure the ground floor also resisted mould.

MCN Chief Turner said he remains skeptical but is willing to take a risk if it means bringing mould-free homes to his community.

“I don’t think it’s possible but if that’s what they’re telling me then I’m willing to experiment,” he said.

The prefabricated homes are set to arrive in MCN in July, said Turner, and all 30 homes should be ready for occupants by winter. Each house takes roughly three to four days to put together.

MCN currently faces a housing shortage of about 150 units, the chief added.

“If they are what they say they are … then obviously we’ll be purchasing more in the future,” said Turner.

MCN is paying for the homes without financial help from Ottawa, he said.

“We can’t wait for the federal government to build the homes even though they are obligated to build us homes under treaty, they failed us,” said Turner.

Click here for the full article.

Bridging Finance is proud to provide the financing for this important initiative:

Construction techniques employed at the Canadian Museum of History could help replace shoddy, mould-ridden homes in northern indigenous communities with durable, healthy residences.

history-museumDouglas Cardinal, the renowned Ottawa architect who designed the history museum, has designed a prefab three-bedroom loft-style house using cross laminated timber, made by gluing two-by-fours together at 90-degree angles.

Douglas Cardinal, the renowned Ottawa architect who designed the history museum, has designed a prefab house to be used in northern communities.

The result, Cardinal says, is a solid slab of wood that’s as strong as concrete, more fire-resistant than steel and far more energy efficient than houses made with traditional stick-frame construction.

A key aspect of the design is that the insulation and vapour barrier are on the outside of the house – not inside the building, packed between studs behind dry wall, as in most houses.

Traditional stick-frame construction is ill-suited to the north, Cardinal said in an interview. “The housing is terrible. It’s not designed around the people’s needs or culture.”
When the warm moisture inside often overcrowded houses reaches the cold air outside, it condenses in walls and ceilings, creating a breeding ground for mould. “These moulds are silent killers,” Cardinal said. “They really are detrimental to people’s health.”

Cardinal, 81, used the same approach when he designed the history museum nearly three decades ago. Because humidity levels need to be kept at around 50 per cent to preserve artifacts, he wrapped the insulation and vapour barrier around the inside walls before covering them with stone.

At present, most houses in northern communities only last about 10 years before they need major repairs. Drywall tends to deteriorate quickly and howling winds can penetrate walls.

Cardinal said his design eliminates all of those problems. The cross laminated timbers – used on interior walls, floors and ceilings – last for decades and keep the house cozy, reducing energy bills. And because the vapour barrier and insulation are outside the living space, moisture from inside drains away outside.

Cross laminated timber, known as CLT, was created in Austria. “It’s replacing concrete in Europe. They’re making high-rises out of cross laminated timber,” said Cardinal.

Because it’s relatively light, Cardinal thought CLT would be an ideal product when he was hired to design the history museum’s new history hall, now under construction. The hall’s now-completed mezzanine level, and the circular ramp leading up to it, are entirely made of cross laminated lumber.

Eager to use CLT to build houses for indigenous communities, Cardinal met last August with Josh Dewar, president of Guardian Bridge, a Stratford, Ont. company that was using laminated beams to build bridges.

“He had some designs,” Dewar said. “Our team sat down and, using his concepts and our manufacturing background, we were able to provide a fully built home for aboriginals.”

The components of the houses are made at Guardian’s plant, complete with plumbing, electrical, heating and a full kitchen. They are then shipped to a community and assembled in four or five days, using long stainless steel screws to knit together the four-inch-thick wooden walls, floors and roof.

Fully assembled, the houses cost $250,000 – about the same as native communities now pay for houses that quickly fill with mould and fall apart.

So far, Guardian has an order for 31 of Cardinal’s houses from a Cree reserve near Grand Rapids, Man, which will be assembled this summer. Other communities have expressed an interest in 80 more, and Dewar expects demand to grow rapidly.

In 2011, aboriginal communities needed an estimated 85,000 housing units – a number that has now risen to nearly 100,000, according to the Assembly of First Nations.

Cardinal, whose father was aboriginal, said he made a commitment long ago to serve First Nations. “When you see people suffering in terrible conditions, you can’t turn a blind eye to it.

“I’m hoping to be able to provide the best housing I can, and healthy housing, so the children will be able to grow up in proper conditions and be able to not only survive, but thrive.”

dbutler@postmedia.com

twitter.com/ButlerDon

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Bridging Finance Inc. has completed several recent financing’s to companies across Canada

TORONTO, November 18, 2014 – Bridging Finance Inc. (“Bridging”) is pleased to announce that it has completed several recent financings to companies across Canada.

 

Bridging targets lending to companies looking for between $300,000 and $15,000,000 in financing in the form of operating lines of credit, term loans, and factoring. Typical profiles include:

 

  • Too early for bank financing but post-revenue with strong prospects.
  • Insufficient working capital to grow the business.
  • Temporary distress but a turnaround plan in place.
  • Unique, short-term, special situations.
  • Management requires non-dilutive capital.

 

Recent highlights include:

About Bridging Finance Inc.

Bridging is a privately held Canadian company 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. Bridging offers operating lines of credit, term loans and factoring. Bridging Finance is the sub-advisor to the Sprott Bridging Income Fund LP.

 

For further information please contact:

 

Graham Marr, CPA, CA, CFA | VP, Business Development
Bridging Finance Inc.
77 King Street West
Suite 2925, P.O. Box 322
Toronto, ON. M5K 1K7
(416) 777-1794 | 1-888-920-9598
www.bridgingfinance.ca | gmarr@bridgingfinance.ca

Bridging Finance Inc. Announces Recent Deals

November 17, 2015 01:22 PM Eastern Standard Time
2408703_bridging_finance_inc_deals_nov2015
TORONTO–(BUSINESS WIRE)–Bridging Finance Inc., as sub-advisor to the Sprott Bridging Income Fund LP (“Bridging Finance”) announces a sample of deals made in 2015. “We are very pleased with a great year in private debt financing” said David Sharpe, President & COO of Bridging Finance. “Bridging Finance has become a leader in bridge financing, our ability to move quickly and provide
flexibility plays an important role in our rapid growth as one of Canada’s premier private debt lenders.”

“Bridging Finance has become a leader in bridge financing, our ability to move quickly and provide flexibility plays an important role in our rapid growth as one of Canada’s premier private debt lenders.”

 

bridging_finance_inc

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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 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 Sub-Advisor to the Sprott Bridging Income Fund LP. Bridging Finance also offers portfolio management services for institutional and family office clients.

Click here for the full article.

 
Contacts
Bridging Finance Inc.
Graham Marr, 416-777-1794
C: 416-906-0395
Business Development, CA, CPA, CFA, VP
Gmarr@bridgingfinance.ca
or
M. Bobby Anand, 416-546-7340
C: 416-899-0040
Senior Managing Director, CA, CPA, CFA
banand@bridgingfinance.ca
or
Advisors please contact:
David Sharpe, 416-642-7572
C: 647-981-5658
President & COO, LLB, LLM, MBA
dsharpe@bridgingfinance.ca

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Diversity 50 appointments

captureOctober 15, 2015 – Bridging Finance is proud to announce that Natasha Sharpe, CEO and CIO and David Sharpe, President and COO, were selected by the Canadian Board Diversity Council (“CBDC”) to the 2015 Diversity 50 cohort: a distinguished list of 50 diverse, highly-qualified candidates in search of roles on Canada’s corporate boards. For further information please visit the CBDC website here: www.boarddiversity.ca and for a full list and profiles of the individuals selected please see: Diversity 50 PDF

 

For Bridging financing please contact: Graham Marr, CA, CPA, CFA, VP, Business Development, Bridging Finance Inc., T: 416-777-1794 | C: 416-906-0395,Gmarr@bridgingfinance.ca or M. Bobby Anand, CA, CPA, CFA, Senior Managing

 

Director, Bridging Finance Inc., T: (416) 546-7340 | C: (416) 899-0040, banand@bridgingfinance.ca;

 

Advisors please contact: David Sharpe, LLB, LLM, MBA, President & COO, Bridging Finance Inc., T: (416) 642-7572 | C: (647) 981-5658,dsharpe@bridgingfinance.ca;

 

Baffin Fisheries Coalition, 208 Sinaa | Iqaluit | NU | X0A 0H0 www.bfcgroup.ca

 

Bridging Finance Inc., 77 King Street W | Suite 2925 | Toronto, ON | M5K 1K7 www.bridgingfinance.ca

Baffin Fisheries Coalition announces the purchase of the MV Sivulliq with financing provided by Bridging Finance Inc.

IQALUIT, NUNAVUT and TORONTO, September 17, 2015 /Businesswire/ – Baffin Fisheries Coalition (“BFC”) is pleased to announce the purchase of the MV Sivulliq (formerly the Remoy) with financing provided by Bridging Finance Inc., as sub-advisor to the Sprott Bridging Income Fund LP (“Bridging Finance”). The MV Sivulliq is a 64 metre Arctic Shrimp Trawler built in Norway.

 

“We look forward to a long and successful fishing legacy that will allow us to make use of the profits to benefit our communities and stakeholders in Nunavut”, commented Vice-Chairman Methusalah Kunuk at the ceremony in St. John’s celebrating the vessel’s arrival.

 

We are very pleased and honoured to be part of such an important development for the Inuit-owned fisheries in Nunavut,” said David Sharpe, President & COO of Bridging Finance. “Bridging Finance has become the leader in bridge financing for First Nations/Inuit, an area that plays an important role in our rapid growth as one of Canada’s premier private debt lenders.”

 

Precipice Capital, McInnes Cooper, and Ocean Management & Trading acted as advisors to BFC in connection with the purchase.

 

About Baffin Fisheries Coalition

BFC is a 100% Inuit-owned organization that was formed in 2000 by Hunters and Trappers Organizations on Baffin Island, with headquarters in Iqaluit, Nunavut. Its initial emphasis was to develop the offshore turbot fishery in Nunavut and has evolved into the development of new inshore and offshore fisheries and scientific research regarding emerging fisheries. BFC and its shareholders have made significant investments into vessel ownership, and is a 100% owner of two large factory freezer fixed gear vessels, the MV Sikuvut and the MV Arluk II, and majority owner in a large factory freezer multi species trawler, the MV Inuksuk.

 

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 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 Sub-Advisor to the Sprott Bridging Income Fund LP. Bridging Finance also offers portfolio management services for institutional and family office clients.

 

SOURCE Baffin Fisheries Coalition and Bridging Finance Inc.

 

For further information: For Baffin Fisheries Coalition, please contact: David Taylor, CPA, CMA, MBA, CFO, T: 709-726-6328

 

For Bridging financing please contact: Graham Marr, CA, CPA, CFA, VP, Business Development, Bridging Finance Inc., T: 416-777-1794 | C: 416-906-0395,Gmarr@bridgingfinance.ca or M. Bobby Anand, CA, CPA, CFA, Senior Managing

 

Director, Bridging Finance Inc., T: (416) 546-7340 | C: (416) 899-0040, banand@bridgingfinance.ca;

 

Advisors please contact: David Sharpe, LLB, LLM, MBA, President & COO, Bridging Finance Inc., T: (416) 642-7572 | C: (647) 981-5658,dsharpe@bridgingfinance.ca;

 

Baffin Fisheries Coalition, 208 Sinaa | Iqaluit | NU | X0A 0H0 www.bfcgroup.ca

 

Bridging Finance Inc., 77 King Street W | Suite 2925 | Toronto, ON | M5K 1K7 www.bridgingfinance.ca

David Sharpe of Bridging Credit Fund LP (“Bridging”) was featured in the Private Investing section of the Queens alumni Review.

 

FEATURE STORY
Effecting change: David Sharpe

2017 ISSUE 1: INDIGENOUS ISSUES AND EXPERIENCES AT QUEEN’S

David Sharpe, Law’95, remembers what gave him his first push into the field of law. As a young man, he was playing high-level hockey and had yet to complete an undergraduate degree.
“I knew that pro hockey was something I did not want to seriously pursue and I was anxious to go to school, but I didn’t really know what to do with myself,” says Mr. Sharpe. “I was talking to hockey agent and Queen’s graduate Pat Morris at the time and he looked at me and said, ‘You’re going to be a lawyer.’”
Mr. Sharpe remembers being a bit stunned. It never occurred to him that he could be a lawyer. “Pat told me I was smart enough, that I could do it.”

That conversation with Pat Morris, Law’85, changed the course of his life. Mr. Sharpe, whose father is from Tyendinaga Mohawk Territory, near Deseronto, Ont., says neither of his parents finished high school. Mr. Sharpe’s family moved to Toronto to find work, and growing up, he spent time in the summer in the Tyendinaga area with his grandparents and the rest of his time in Toronto.

“I am very close with my grandmother, and as a child, I especially cherished her service to others and her kindness – she was very wise,” he says. “But it was a complex relationship, too. Her generation was made to feel ashamed for being Indian, and I felt plagued with that in some ways, shame in being myself.”

Mr. Morris’ encouragement gave Mr. Sharpe the nudge he needed. He went on to complete a BA at the University of Guelph, assisting with coaching varsity hockey along the way. A few years later, he was thrilled when he received his acceptance to Queen’s Law, because of its reputation but also because he wanted to be close to Tyendinaga, to his grandmother.

Now – after adding an LLM in securities law from Osgoode Hall Law School and an MBA from Richard Ivey School of Business, along with two decades of experience in the Canadian financial services industry – he runs, alongside his wife, CEO Natasha Sharpe, a company called Bridging Finance. The firm provides small- and medium-sized North American companies with alternative financing options and is one of the only bridge lenders in Canada to First Nations and Inuit for infrastructure projects.

“We saw the need for these loans for Aboriginal communities. Because we can be quick and nimble about getting money into communities, the loans are game-changers. They are making a big difference in people’s lives.”

Most recently, Bridging Finance provided a loan to a 100 per cent Inuit-owned corporation in Nunavut for the purchase of a 64-metre arctic trawler, used to fish turbot and shrimp. It has also financed housing and elders’ apartments in northern Manitoba, a wind farm and hockey arena in communities in Quebec, and a grocery store in Elsipogtog First Nation in New Brunswick. Mr. Sharpe is especially proud of this last project, because the store has been a goal of Elsipogtog for decades and is key to the social and economic development of the community.

“This was all community-driven and the store, a national chain with a pharmacy, will provide jobs and revenue for Elsipogtog.” Mr. Sharpe says Bridging Finance was able to provide the loan in a matter of weeks, and the store will be up and running in eight months.

“We’re committed to First Nations communities,” he says, of Bridging Finance. “It’s so important to get the money in quickly, especially because in many northern and remote places the season for construction is short. And if the money isn’t there, the community loses another year without the infrastructure.”

Click here for the full article.

Natasha Sharpe on bridging the capital needs between banks and distressed lenders

In a special InvestorIntel interview, Publisher Tracy Weslosky speaks with Natasha Sharpe CEO of Bridging Finance Inc. about present market challenges for companies seeking to secure capital needs through alternative or debt financing to avoid dilution. Natasha describes how it works at Bridging Finance, a company that is seeking to arrange financing for companies that are strong, growing, or with promising potential that are in the Canadian mid-market.

For the full story please Click here

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