GrowthWorks WV Management Ltd.

GrowthWorks WV Management Ltd.

May 30, 2006 11:00 ET

GrowthWorks Canadian Fund Invests $9.5 Million in Three Companies

TORONTO, ONTARIO--(CCNMatthews - May 30, 2006) - GrowthWorks Canadian Fund, one of Canada's largest retail venture capital funds, has made investments totaling $9.5 million in three companies across Canada in the last two months.

"We're impressed with the strength of the management teams and the technology behind these diverse companies," said Les Lyall, Senior Vice-President, GrowthWorks. "We're looking forward to working with each of these companies to help them compete and succeed in their respective markets."

Advanced Glazings Ltd., Sydney, Nova Scotia, Energy/Environment, $2.5 million

Advanced Glazings is a manufacturer of insulated glass units that improve the quality, aesthetics and energy efficiency of indoor spaces by increasing the amount of daylight. The financing will be used to expand the company's sales force and continue the development of new products in the architectural and greenhouse markets.

SaskAlta Base Oils Corporation, Calgary, Alberta, Energy/Environment, $2.0 million

SaskAlta Base Oils recovers and re-refines hydrocarbon resources derived from used oil feedstock. The company generates high quality, environmentally friendly, value added products using a patented process technology and an established used oil collection network.

Viron Therapeutics Inc., London, Ontario, Life Sciences, $5.0 million

Viron Therapeutics is a clinical biopharmaceutical company focused on the commercialization of novel anti-inflammatory therapeutics. The financing will be used to help complete the company's ongoing Phase II clinical trial for their lead compound VT-111, the advancement of additional therapeutic drug candidates into the clinic and the optimization of its manufacturing process.

About GrowthWorks

GrowthWorks ( is a recognized leader in venture capital fund management with proven experience in the raising and managing of capital. GrowthWorks™ managed funds, including the Working Opportunity Fund, GrowthWorks Canadian Fund, GrowthWorks Commercialization Fund, and GrowthWorks Atlantic Venture Fund, have approximately $800 million in combined assets.

GrowthWorks has a team of skilled and knowledgeable investment professionals with a combined 200 years of experience. The Investment team has a proven track record of identifying, analyzing and structuring investments in emerging sectors. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd.

- GrowthWorks refers to affiliates of GrowthWorks Ltd. and includes GrowthWorks Capital Ltd., manager of the Working Opportunity Fund (EVCC) Ltd., GrowthWorks WV Management Ltd., manager of GrowthWorks Canadian Fund Ltd. and GrowthWorks Commercialization Fund Ltd., and GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in labour-sponsored investment funds (LSIFs). Please read the Fund's prospectus before investing. LSIFs are not guaranteed, their values change frequently and past performance may not be repeated. Effective November 29, 2005, the Fund completed a merger by purchasing the assets of GrowthWorks Opportunity Fund Ltd., Canadian Science and Technology Growth Fund Inc. and Capital Alliance Ventures Inc. in exchange for Class A shares distributed to former shareholders of each of those investment funds.

Certain information contained in this press release is provided by third party sources and while we believe it to be reliable, we cannot guarantee its accuracy or completeness.

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