British Columbia Discovery Fund Invests in EvidencePix Systems Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 23, 2012) - British Columbia Discovery Fund (VCC) Inc. is very pleased to announce that it has invested $1.0 million in EvidencePix Systems Inc., a Vancouver-based software company with a patented platform that allows users to capture and securely upload and store confidential data from their smartphones and tablets. In conjunction with this investment, John McEwen, CEO of Discovery Capital Management Corp., the manager of the Fund, has joined the Board of EvidencePix.

EvidencePix has developed products and services that provide mobile workers with the ability to capture pictures, video and reports from mobile devices such as smartphones and tablets, while encrypting, securely uploading and storing the data automatically. The Company uses a structured, tamper proof process named EPIXTRUST™, which guarantees that the information captured is authentic and unaltered, cannot be intruded upon, and can be safely transmitted to either its cloud data management services (EPIX CLOUD™) or to the clients' enterprise data management facilities. The Company holds two patents from 2007 and 2009 that secure the methods and processes of its software application.

EvidencePix released three products in 2011/12 - SOS Response™, a safety and security application that includes a web-based data management program; VerifyPro, a data capture and upload application; and Verify Transact™, which authenticates and establishes a chain of custody (and liability transfer points) for high-value transactions. The Company's products provide security for consumers and lone workers when they are mobile, and efficiencies related to data collection with an audit trail for mobile work forces (such as installers, repair and delivery people, inspectors, auditors, guards, and insurance adjusters) and high-value financial service providers.

"With smartphones and tablets now outselling laptops, and a forecast of three to four billion in use within a few years, we believe EvidencePix brings a key business solution to many different industry segments," said John McEwen, CEO of the Fund. "Companies with mobile workforces are now able to use standard and inexpensive platforms of Apple, Android, Blackberry and Microsoft as key drivers of increasing productivity, efficiency and security, and EvidencePix has produced a disruptive technology with broad application."

Ray Sobol, President and Founder of EvidencePix commented, "Over the next few years, enterprise use of mobile devices will skyrocket, as they fill productivity, reporting and financial uses. Our team's focus from day one has been on ensuring our process for capturing all that data remains secure, authenticated, confidential to the enterprise and safe to upload. Partnering with the Discovery people brings us experience and counsel along with their investment, and we will leverage these to maximize our existing strategic alliances and opportunities."

About British Columbia Discovery Fund (VCC) Inc.

British Columbia Discovery Fund (VCC) Inc. was established to make venture capital investments in a portfolio of small businesses in British Columbia that qualify under the Small Business Venture Capital Act, focusing on all of B.C.'s top internationally recognized technology clusters: information technology (software and hardware); mobile technology (wireless and networking solutions); clean technology (alternative energy and energy-saving technology solutions); new media; and health and life sciences.

Established in 2002 and managed by Discovery Capital Management Corp., the Fund is focussed on making diversified investments in British Columbia with the objectives of achieving long-term capital appreciation for its shareholders and contributing to the growth in value and employment of the technology industry in British Columbia. In addition to offering a means of participating in the potential of British Columbia's newest technology ventures, the Fund offers significant tax savings to eligible British Columbia individual and corporate investors. The Fund, which offers its shares on a continuous basis, has raised approximately $75 million to date and has investments in thirteen developing technology companies. To obtain further information about the Fund, please contact a registered advisor or visit www.sedar.com or www.bcdiscoveryfund.com.

John McEwen, CEO, B.C. Discovery Fund (VCC) Inc.

Harry Jaako, President, B.C. Discovery Fund (VCC) Inc.

This press release is not an offer to sell or a solicitation of an offer to buy common shares. This press release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. The issuer cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what the issuer currently foresees.