GrowthWorks Commercialization Fund Ltd.

GrowthWorks Commercialization Fund Ltd.

October 26, 2009 18:47 ET

GrowthWorks Commercialization Fund Proposes Revised Allocation Rules Aimed at Greater Diversification

TORONTO, ONTARIO--(Marketwire - Oct. 26, 2009) - GrowthWorks Commercialization Fund announced today that it will seek shareholder approval for the Fund to adopt amended investment allocation rules aimed at providing greater diversification. This proposal involves an earlier pooling of investments among the Fund's series of shares combined with changes to the manner in which investment income is allocated among the series. Details of the proposed amendments will be contained in the meeting materials sent to shareholders in advance of the Fund's annual general meeting on December 2, 2009.
The proposed amendments remain subject to conditions, including shareholder and regulator approval. There are no assurances that the proposed amendments will be implemented on the basis proposed or at all. If all conditions are satisfied, the amended rules will be implemented at a date designated by the President and CEO of the Fund.

About GrowthWorks* (www.growthworks.ca)
GrowthWorks™ managed funds provide investment capital for Canadian companies and tax-advantaged investment opportunities for Canadian investors. GrowthWorks manages approximately $1 billion in assets including $700 million in retail venture capital funds. Funds under management include the Working Opportunity Fund (EVCC) Ltd., GrowthWorks Atlantic Venture Fund Ltd., GrowthWorks Commercialization Fund Ltd., GrowthWorks Canadian Fund Ltd. and the Mavrix group of specialty mutual funds and flow-through investment funds. GrowthWorks' venture capital division identifies, analyzes and structures investments in companies with high growth potential. Particular emphasis is placed on IT, Life Sciences and Advanced Manufacturing sectors. Building on more than 17 years of investment expertise, GrowthWorks is a leader in Canadian venture capital management.

*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.; GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd., and Mavrix Fund Management Inc., manager of the Mavrix group of specialty mutual funds and flow-through investment funds. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in retail venture capital funds (RVCs). RVCs are not guaranteed; their values change frequently and past performance may not be repeated. Please read the prospectus of the fund before investing.

Contact Information

  • GrowthWorks Capital Ltd.
    Murray Munro, Senior Vice President, National Sales,
    Marketing & Government Relations
    604-895-7282
    www.growthworks.ca