Purpose Investments Inc. Completes $90 Million IPO of Limited Duration Investment Grade Preferred Securities Fund

Limited Duration Investment Grade Preferred Securities Fund (the “Fund”) completed its initial public offering of an aggregate of 3,600,000 Class A and Class F units (the “Units”) at a price of $25.00 per Unit for gross proceeds of $90,000,000 (the “Offering”). The Fund is a closed-end fund created to provide unitholders with: (i) a stable stream of monthly distributions; (ii) to preserve the net asset value per Unit; and (iii) to reduce the risk of rising interest rates by managing portfolio duration. The Class A units of the Fund currently trade on the Toronto Stock Exchange under the symbol PFD.UN.

Purpose Investments Inc. (“Purpose”) is the manager and trustee of the Fund and Nuveen Asset Management, LLC is the portfolio advisor to the Fund. TD Securities Inc., CIBC, RBC Capital Markets acted as co-lead agents on behalf of a syndicate of agents that also included BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Scotiabank, Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research Capital Corporation, Manulife Securities Incorporated and Rothenberg Capital Management Inc.

Wildeboer Dellelce LLP acted for Purpose and the Fund in connection with the Offering with a team that included Perry Dellelce, Ronald Schwass, Geoffrey Cher, Mack Hosseinian and Jessica Allan (corporate/securities) and Kevin Fritz (tax).