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HomeBusinessPender Growth Fund Announces Partial Redemption of Its Inherited PPI Shares

Pender Growth Fund Announces Partial Redemption of Its Inherited PPI Shares

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VANCOUVER, British Columbia, Oct. 14, 2021 (GLOBE NEWSWIRE) – (TSXV: PTF) Pender Growth Fund Inc. (the “Company” or “Pender”) announces today that a portion of its shares inherited from Pender Private Investments Inc. (“PPI”), formerly known as Working Opportunity Fund (EVCC) Ltd., has been redeemed in accordance with the special rights and restrictions attached to such actions.

The Company owns approximately 97% of the Legacy Shares outstanding, or approximately 16,698,042 Legacy Shares. As a result of the previously announced divestitures of Teradici Corporation and Redlen Technologies Inc., the terms of the inherited shares provide that they must be redeemed by PPI pro rata to their net asset value (“NAV”) at that time. Accordingly, PPI has redeemed approximately 58.49% of the inherited Shares, including those owned by the Company, on a pro rata basis at a redemption price of approximately $ 6.4705 per share. A portion of this proceeds will be used to satisfy the additional cash payment to shareholders who sold their Venture Series shares to the company (“Outgoing Shareholders”). Outgoing Shareholders are entitled to receive an additional cash payment of $ 1.2661 per share that was paid as of October 13, 2021. After this payment, the net cash proceeds of approximately $ 42M received by the Company will increase. its cash and liquidity position.


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About the company

The company’s goal is to achieve long-term capital appreciation for its investors. The Company uses its small capital base and long-term horizon to invest in unique situations; mainly small capitalization, special situations and public and private companies without liquidity. The company is listed on the TSX Venture Exchange under the symbol “PTF”.

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For more information contact:

Tony rautava
PenderFund Capital Management Ltd.
(604) 653-9625
Toll Free: (866) 377-4743

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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Prospective information

This press release may contain forward-looking statements (within the meaning of applicable securities laws) related to the company’s business and the environment in which it operates. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the expectations, estimates and forecasts of the Company. The forward-looking statements in this press release are based on certain assumptions; They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the risk that the WOF Transaction will not benefit the Company in the long term, the risk that the conditions will not be met. prior to the acquisition of Teradici, the risk that the valuations of the public micro and small capitalization companies will change, the general volatility of the public markets, as well as the factors discussed in the heading “Risk factors” in the information form Annual Company and MD&A available at . There can be no guarantee that forward-looking statements will be accurate, as actual results and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on such forward-looking statements. In addition, these forward-looking statements are made as of the date of this press release and, unless expressly required by applicable law, the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information. . , future or other events.

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