Pender Growth Fund

Pender Growth Fund is a $18 million later stage, diversified, venture capital corporation, focused on under-valued public companies.  It holds material investments in 14 technology companies, all with operations in British Columbia.

Shareholders receive a 30% British Columbia tax credit at the time of subscription. The company was recently reorganized so that shareholders now hold one Class R Redeemable share and one Class C common share listed on the TSX-Venture exchange.  Persons that hold their shares through MFDA dealers, hold Class B convertible shares that are convertible at any time into one Class R and one Class C share. See Reorganization for details.

Shareholders are entitled to submit their Class R Redemption shares for redemption prior to November 30 of the year that is five years after the date that they originally subscribed for their shares.  The company will redeem these shares as soon as proceeds are available from the proceeds of the sale of investments.  Pender Growth Fund has to date honoured over $8 Million of redemption requests.

Pender is not currently selling shares but plans to issue a new series of shares that will fund a new pool of investments during the 2011 tax year.  This will not be dilutive to the existing shareholders.