GrowthWorks Capital Ltd.

GrowthWorks Capital Ltd.

May 30, 2006 11:00 ET

WOF Invests $9.5 Million in Five Companies in the Interior and Lower Mainland-GrowthWorks Capital Ltd.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 30, 2006) - The Working Opportunity Fund ("the Fund"), managed by GrowthWorks Capital Ltd., recently invested a total of $9.5 million in five new companies, Interior-based Traction Technologies Inc., and Lower Mainland-based Marqui, Inc., NxtGen Emission Controls Inc., PiXPO Inc., and Zeugma Systems Inc.

The managers are particularly pleased with the investment in the BC Interior in Traction Technologies, as one of their goals is to find more opportunities for investment outside the Lower Mainland.

Traction Technologies specializes in the development of innovative road safety products. Their first products include an automated tie-down system for flatbed trailers to reduce load shift and driver injury, as well as an icy road warning system to alert maintenance staff and drivers to black ice conditions.

"The Fund's $1.0 million investment is intended to help Traction move into the commercialization stage of their business and help execute their growth strategy," said Donna Bridgeman, Vice President Investments, GrowthWorks Capital. "We believe this is a company that has excellent growth prospects while providing an important product to improve road and driver safety."

The Fund invested $2.1 million in Marqui, an information technology company focusing its business on developing a web-based suite to help organizations handle marketing communications. Their solution works to simplify and automate a broad range of marketing activities including blogging, e-mail campaigns, Web content management, and program measurement, without the added costs of multiple product purchases, integrations and training.

"We are looking forward to working with Marqui by providing capital and expertise to help them expedite the company's product development schedules, strategic partner initiatives and expansion of its sales activity in North America," said Jim Charlton.

The Fund also invested $1.7 million in NxtGen Emission Controls, an advanced manufacturing company working to make fuel reforming and absorber technology to potentially deliver significant cost and performance advantages for diesel engine emission control. The company is currently developing an onboard pollution control device for diesel engine trucks that reduces nitrogen oxide (NOx) emissions to meet new standards being enacted in 2010.

"We are excited about NxtGen because its technology allows truck fleet operators to meet stringent new US and European NOx emission standards without the fuel economy penalty imposed by competing approaches," said Rolf Dekleer, Vice President Investments, GrowthWorks Capital.

The Fund also closed a $1.9 million investment in Vancouver-based PiXPO. PiXPO's product allows users to create online video broadcast sites and host them instantly from their PCs without uploading or video optimization hurdles.

"We believe in the strength of the PiXPO management team and we're excited by the technology and prospects personal broadcasting offers in the digital media space," said Jim Charlton, Senior Vice-President Investments, GrowthWorks Capital.

The Fund invested $2.8 million in Zeugma Systems, a Vancouver-based company developing telecommunications system for next generation, high-speed broadband networks. The funding will be used to continue with the development of the company's first commercial system release, including hardware, software and early customer trials, as well as to ramp up the company's sales and marketing capabilities.

"We are confident in the management of Zeugma which is comprised of industry professionals from companies such as Redback Networks, PMC Sierra, Sierra Wireless and HP, and we believe the company has excellent prospects," said Todd Farrell, Vice President Investments, GrowthWorks Capital.

About GrowthWorks(i)

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.

(i) 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.

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.

Contact Information