GrowthWorks Canadian Fund Ltd.

GrowthWorks Canadian Fund Ltd.
GrowthWorks Commercialization Fund Ltd.

GrowthWorks Commercialization Fund Ltd.

May 25, 2009 20:31 ET

Saskatchewan Adopts Amendments To Its Labour Sponsored Venture Capital Program-GrowthWorks Canadian Fund Ltd. and GrowthWorks Commercialization Fund Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 25, 2009) - On May 14, 2009, amendments to Saskatchewan's Labour Sponsored Venture Capital Corporation program were enacted which increase the provincial LSVCC tax credit for investors in approved funds like GrowthWorks Canadian Fund and GrowthWorks Commercialization Fund from 15% to 20% and the maximum annual investment amount that qualifies for the tax credit from $3,500 to $5,000. These amendments apply to taxation years after 2008.

"This is a very positive step for our funds in Saskatchewan," said David Levi, President and CEO of GrowthWorks Canadian Fund and GrowthWorks Commercialization Fund. "It's encouraging to see changes that enhance tax benefits for Saskatchewan investors and set the stage for increased venture capital for Saskatchewan businesses."

About GrowthWorks (www.growthworks.ca)

GrowthWorks™(i) managed funds provide investment capital for Canadian companies and tax-advantaged investment opportunities for Canadian investors. GrowthWorks manages approximately $730 million in assets through the Working Opportunity Fund (EVCC) Ltd., GrowthWorks Atlantic Venture Fund Ltd., GrowthWorks Commercialization Fund Ltd. and GrowthWorks Canadian Fund Ltd. GrowthWorks identifies, analyzes and structures investments in companies with high growth potential. Particular emphasis is placed on IT, Life Sciences and Cleantech sectors. Building on more than 17 years of investment expertise, GrowthWorks is a leader in Canadian venture capital management.

(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.; GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd.; and GrowthWorks Access GP I Ltd., general partner and manager of GrowthWorks Access Fund Limited Partnership. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd. ENSIS is a registered trademark of ENSIS Capital Corporation.

Commissions, trailing commissions, management fees and expenses all may be associated with retail venture capital fund (RVC) purchases. Please read the fund's prospectus before investing. RVCs are not guaranteed, their values change frequently and past performance may not be repeated. Tax credits are subject to certain conditions, including repayment if shares are not held for eight years. GrowthWorks Canadian Fund Ltd. purchased the assets of Canadian Science and Technology Growth Fund Inc. and Capital Alliance Ventures Inc. effective November 29, 2005, the assets of ENSIS Growth Fund Inc. effective October 24, 2008 and the assets of Canadian Medical Discoveries Fund Inc. effective May 22, 2009, in each case in exchange for Class A shares distributed to former shareholders of the selling fund.

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