BC Advantage Funds (VCC) Ltd.

BC Advantage Funds (VCC) Ltd.

August 15, 2016 21:09 ET

BC Advantage Announces Plans to Terminate the Advantage Structured Fund

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 15, 2016) - B.C. Advantage Funds (VCC) Ltd. (the "Company") today announced the termination of the Advantage Structured Fund (the "Fund") represented by holders of the Company's Advantage Structured Fund I Common Shares and Advantage Structured Fund I RRSP Common Shares. The Fund will be terminated in connection with the liquidation and dissolution of the Company on such day as management may determine.

Shareholders voted in favour of the proposal to liquidate and dissolve the Company pursuant to the Business Corporations Act (British Columbia) at the Company's general and special meeting held on July 29, 2016 (the "Meeting"). Detailed information regarding the Meeting and the proposal that was put forward for consideration by shareholders can be found in the notice of meeting and the management information circular of the Company dated July 7, 2016. A copy of the management information circular is available on SEDAR at www.sedar.com.

About the Company

B.C. Advantage Funds (VCC) Ltd. is a venture capital corporation, formed under the Small Business Venture Capital Act (British Columbia), to invest in emerging technology companies in the Province. For more information about the Company, please visit our website at www.bcadvantagefunds.com.

Forward-Looking Information

This news release contains forward-looking statements and information within the meaning of applicable securities laws including statements regarding: the anticipated termination of the Fund and the liquidation and dissolution of the Company and expected timing thereof. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based upon currently available information to the Company. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in forward-looking statements. Risks include, but are not limited to: changes in tax laws, the ability of the Company to transfer the remaining assets of the Company and the ability to dissolve the Company. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this news release are made as of the date of this release, and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Contact Information

  • B.C. Advantage Funds (VCC) Ltd.
    Frank Holler
    Director and Chief Executive Officer

    B.C. Advantage Funds (VCC) Ltd.
    Ambrose Hong
    Director and Chief Financial Officer