ENSIS Growth Fund Class A Shareholders Approve Merger-Growthworks WV Management Ltd.
WINNIPEG, MANITOBA–(EMWPresswire – July 24, 2008) – ENSIS Growth Fund Inc. (“ENSIS Fund”) and GrowthWorks Canadian Fund Ltd. (“Canadian Fund”) are pleased to announce that ENSIS Fund Class A shareholders today passed a special resolution approving the proposed merger of the ENSIS Fund into the Canadian Fund. The resolution was approved by 92.7 percent of the votes cast at the meeting. Canadian Fund shareholders approved the Merger in December 2007.
The Merger remains subject to a number of conditions, including regulatory and other approvals. If all Merger conditions are satisfied, it is expected that the Merger will close prior to ENSIS Fund’s year end of October 31, 2008. Sales and redemptions of ENSIS Fund’s Class A shares will be suspended for 10 to 15 business days prior to closing to allow for data transfers, processing and back-office reporting.
About ENSIS Growth Fund Inc. (www.ensis.ca)
ENSIS Growth Fund Inc. was first established in 1996 to provide Manitoba entrepreneurs with a source of patient equity capital to grow and expand their business, and to provide Manitoba investors with an experienced and proven management team capable of maximizing shareholder returns.
About GrowthWorks (www.growthworks.ca)
GrowthWorksTM managed funds provide investment capital for Canadian companies and tax-advantaged investment opportunities for Canadian investors. GrowthWorks(i) manages approximately $830 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 more than 15 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.; and 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.
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 of the fund before investing. The Merger remains subject to a number of conditions. There can be no assurance that the Merger will be completed on the terms proposed or at all.
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