Discovery Capital Corporation

Discovery Capital Corporation


March 31, 2006 18:55 ET

Discovery Capital Corporation and British Columbia Discovery Fund: Discovery Capital Managed Fund Acquires Shares in Vigil Health Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 31, 2006) - British Columbia Discovery Fund (VCC) Inc. ("BCDF"), a venture capital fund managed by a wholly owned subsidiary of Discovery Capital Corporation (TSX VENTURE:DVY.Y), has purchased 5,930,000 common shares of Vigil Health Solutions Inc. at a purchase price of $0.06 per share, for a total investment of $355,800, pursuant to a private placement completed by Vigil Health. The shares purchased by BCDF comprise approximately 22% of the shares issued by Vigil Health in the private placement.

As a result and as of the date hereof, Discovery Capital, through direct ownership of 6,913,312 common shares of Vigil Health, and control or direction over an additional 12,964,344 common shares of Vigil Health owned by its managed funds, owns and has control or direction over 19,877,656 common shares of Vigil Health, representing approximately 23% of the issued and outstanding common shares of Vigil Health after completion of the private placement. Included in this total are 8,954,286 shares owned by BCDF, representing 10% of the currently issued and outstanding common shares of Vigil Health.

The private placement purchase by BCDF was made for investment purposes. Discovery Capital, directly or through its managed funds, may acquire ownership of or control or direction over additional securities of Vigil Health, or dispose of securities of Vigil Health, as circumstances or market conditions warrant or arise.

About Discovery Capital Corporation

With nearly 20 years of venture capital experience in British Columbia, Discovery Capital, through its wholly owned subsidiary, Discovery Capital Management Corp., is a venture fund manager and venture capital investor specializing in: information technology, communications, health and life sciences, energy technology and other advanced technologies. We have proven expertise in strategic planning, management development, innovative financing strategies, corporate governance and positioning for liquidity. Discovery Capital Management Corp. is the manager of British Columbia Discovery Fund (VCC) Inc., a British Columbia venture capital fund that has raised over $35.0 million to date and has investment interests in eleven developing technology companies.

For more information about Discovery Capital Corporation, please visit For more information about British Columbia Discovery Fund (VCC) Inc., please visit

Harry Jaako, Chairman and Co-Chief Executive Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Discovery Capital Corporation
    Charles Cook
    (604) 683-3000 ext. 102
    Discovery Capital Corporation
    Harry Jaako
    Chairman and Co-CEO
    (604) 683-3000 ext. 105
    Discovery Capital Corporation
    John McEwen
    President and Co-CEO
    (604) 683-3000 ext. 106
    (604) 662-3457 (FAX)