East Coast Investment Grade Income Fund Announces A Public Offering

TORONTO, ONTARIO--(Marketwired - May 1, 2017) -

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(TSX:ECF.UN) Arrow Capital Management Inc. ("Arrow"), on behalf of the East Coast Investment Grade Income Fund (the "Fund"), today announced the filing by the Fund of a preliminary prospectus supplement with the securities regulators in all provinces and territories of Canada, with the exception of Quebec, relating to a distribution of units of the Fund. The terms of the offering, including the maximum amount to be raised and the offering price of the units, will be set forth in a final form of prospectus supplement.

The Fund is unique in that its' credit focused mandate seeks to generate attractive risk-adjusted returns with low volatility through exposure to a diversified portfolio of Canadian investment grade corporate bonds, while minimizing the interest rate risk associated with such bonds. The Fund provides diversification for a typical fixed income portfolio since it is historically uncorrelated to traditional fixed income strategies, and provides a high level of monthly income, not normally associated with a portfolio of high quality bonds.

The offering is being made on a best efforts agency basis through a syndicate of agents led by RBC Dominion Securities Inc. and CIBC World Markets Inc. and which includes GMP Securities L.P., National Bank Financial Inc., Raymond James Ltd., Canaccord Genuity Corp., Industrial Alliance Securities Inc. and Manulife Securities Inc.

Copies of the preliminary form of prospectus supplement, together with the short form base shelf prospectus of the Fund dated April 25, 2017, may be obtained from your registered financial advisor or from www.sedar.com. There will not be any sale or any acceptance of an offer to buy the offered units until the final form of prospectus supplement has been filed with the securities regulators.

About the Fund

The Fund's investment objectives are to: (i) maximize total returns to unitholders while reducing risk and (ii) provide unitholders with attractive monthly distributions.

The Fund will seek to achieve these investment objectives by holding the portfolio comprised primarily of investment grade debt securities (both long and short positions) of Canadian corporate and government issuers that are rated BBB- or higher by Standard & Poor's, or a similar rating from a qualified rating agency.

Arrow is the trustee, manager and promoter of the Fund. East Coast Fund Management Inc. ("East Coast") is the portfolio advisor and will be actively managing the Fund.

About Arrow Capital Management Inc.

Arrow is an employee-owned company, founded in 1999. Arrow's expertise in active portfolio management and manager selection is evident in its strong, diverse platform, which provides clients with access to a global selection of actively managed investment funds. Arrow is committed to continuously providing investors with access to a wide range of investment solutions. With over 15 years of service, Arrow is well respected as a Canadian alternative investment company.

About East Coast Fund Management Inc.

East Coast was founded in 2009 with the aim of providing high net worth individuals the ability to maximize risk-adjusted returns of investment grade credit while removing exposure to interest rates. The portfolio management team at East Coast has a combined 100 years of financial services experience. East Coast has been a sub-advisor to Arrow since 2010.

Forward-Looking Statements

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "seeks", "provides", "will", and similar expressions to the extent that they relate to the Fund. The forward-looking statements are not historical facts but reflect Arrow's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Arrow believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Arrow does not undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.