GrowthWorks Capital Ltd.

GrowthWorks Capital Ltd.

January 16, 2006 16:51 ET

Working Opportunity Fund Delivers New Options to British Columbia RRSP Investors-GrowthWorks Capital Ltd.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 16, 2006) -

Investors can select from seven options to customize their investment

The Working Opportunity Fund, British Columbia's largest venture capital fund, has given investors more choice when making an investment in the Fund this RRSP season.

Under the new format 80+ percent of an investment in the Fund's venture series shares is channeled into a core venture capital portfolio. Shareholders can then choose among a range of diverse options for the remaining portion of their investment that include: Balanced; Growth; Income; Financial Services; Resources; and Diversified participation(+).

"This expanded approach to venture capital investing allows British Columbians to customize their RRSP investment to fit an existing portfolio or investment preference," said David Levi, President and CEO of GrowthWorks Capital Ltd., manager of the Working Opportunity Fund. "It allows both investors and their Investment Advisors the freedom to choose the right investment mix within their Working Opportunity Fund investment."

The Commercialization series of shares is a seventh option that will have a separate venture portfolio consisting of research-oriented small and medium sized businesses. The non-venture portion is a combination of Canadian income and debt securities.

In addition to up to 30% in tax credits for investors in all series of Working Opportunity Fund shares, the Commercialization series of shares also provides investors with the added bonus of dividend payments over a three-year period.

"A $5,000 RRSP investment in the Working Opportunity Fund's Commercialization series of shares can virtually pay for itself after the 30% tax credit, RRSP deduction, and dividend payments over three years are considered," said Levi.

About GrowthWorks(i)

GrowthWorks (www.growthworks.ca) is a recognized leader in venture capital fund management with proven experience in the raising and managing of capital. GrowthWorks™ managed funds, including the Working Opportunity Fund, GrowthWorks Canadian Fund, GrowthWorks Commercialization Fund, and GrowthWorks Atlantic Venture Fund, have approximately $800 million in combined assets.

GrowthWorks has a team of skilled and knowledgeable investment professionals with a combined 200 years of experience. The Investment team has a proven track record of identifying, analyzing and structuring investments in emerging sectors. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd.

(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., and GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd.

(+)The Fund offers its class A shares in series. Each Venture Series Shares invests its non-venture funds in securities with participation in the investment focus indicated by its name. All Venture Series Shares participate pro rata in the Fund's diversified portfolio of venture investments. Actual portions of the 80% venture and 20% non-venture may vary, see the prospectus for details.

(+)Tax credits are subject to certain conditions, including repayment if shares are not held for eight years and annual maximums depending on province of residence. RRSP tax savings are subject to certain conditions, are not unique to the Fund and amounts are taxable when withdrawn. Commissions, trailing commissions, management fees and expenses all may be associated with investments in labour-sponsored investment funds (LSIFs). Please read the Fund's prospectus before investing. LSIFs are not guaranteed, their values change frequently and past performance may not be repeated. The Board of Directors of the Fund has adopted a dividend policy to pay cash dividends on the Fund's Commercialization shares equal to approximately 25% of the purchase price of the shares during the period 2006 through 2009. The timing of those dividends is not fixed and payment of the dividends is not guaranteed. The Fund offers Venture Series and Commercialization Series Shares. Net assets of the Fund, including venture investments, are allocated to a series based on the series' investment program.


Contact Information

  • GrowthWorks Capital Ltd.
    Tracey Morrison
    (604) 862-6098