GrowthWorks Capital Ltd.

GrowthWorks Capital Ltd.

November 16, 2007 20:32 ET

Working Opportunity Fund and BC Medical Innovations Fund Complete Merger-GrowthWorks Capital Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2007) - Working Opportunity Fund (EVCC) Ltd. ("WOF"), managed by GrowthWorks Capital Ltd., and BC Medical Innovations Fund (EVCC) Inc. ("BCMIF"), managed by Medical Innovations Management Inc. ("MIMI"), are pleased to announce the successful completion of their previously announced merger.

The merger was completed through an asset purchase transaction whereby WOF acquired the net assets of BCMIF and shareholders of BCMIF became shareholders of WOF. Each BCMIF shareholder received Balanced Shares, Series 2 of WOF in exchange for their Class A shares of BCMIF at a value equivalent to their BCMIF shares using a 0.9768 exchange ratio based on the relative net asset values on November 16, 2007.

About GrowthWorks(i)

GrowthWorks™ managed funds provide investment capital for Canadian companies and tax-advantaged investment opportunities for Canadian investors. GrowthWorks(i) manages over $900 million in assets through the Working Opportunity Fund (EVCC) Ltd., GrowthWorks Atlantic Venture Fund Ltd., GrowthWorks Commercialization Fund Ltd., GrowthWorks Canadian Fund Ltd. and ENSIS Growth Fund Inc. GrowthWorks identifies, analyzes and structures investments in companies with high growth potential. Particular emphasis is placed on IT, Life Sciences and Advanced Manufacturing sectors. Building on over 15 years of investment expertise, GrowthWorks is a leader in Canadian venture capital management.

About BC Medical Innovations Fund (EVCC) Inc. (

BCMIF was an employee venture capital corporation that focused exclusively on investing in eligible businesses in the health sciences sector in British Columbia. MIMI was the manager of BCMIF, and is a wholly-owned subsidiary of JovFunds Management Inc. ("JovFunds"), which is itself a wholly-owned subsidiary of Jovian Capital Corporation ("Jovian").

About JovFunds Management Inc. (

JovFunds provides innovative investment solutions for Canadian investors through the creation, management and distribution of high quality investment products. JovFunds oversees the management and distribution of over 50 investment products, currently has over $1.4 billion in client assets under management and is a member of the Jovian group of companies.

About Jovian Capital Corporation

Jovian is a publicly-traded company listed on the TSX (JOV). Jovian is a management and holding company with interests in a variety of financial service firms specializing in wealth(ii) and asset(iii) management. The Jovian group of companies operates as a national financial services organization with approximately $14.6 billion of client assets ($5.4 billion in assets under management and $9.2 billion in assets under administration).

(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 ENSIS Management Inc., manager of ENSIS Growth Fund Inc. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd. ENSIS is a registered trademark of ENSIS Capital Corporation.

(ii) Wealth management entities include MGI Securities Inc., MGI Securities (USA) Inc. and Rice Financial Group Inc. (iii) Asset management entities include BetaPro Management Inc., Horizons Funds Inc., JovFunds Management Inc., JovFunds Inc., Leon Frazer & Associates Inc. and T.E. Wealth. Financial corporate service entities include Felcom Data Services Inc.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in retail venture capital funds (RVCs). RVCs are not guaranteed; their values change frequently and past performance may not be repeated. Please read the prospectus before investing.

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