Business News • MarketWire • GrowthWorks Canadian Fund Granted Further Regulatory Order for Closure of Class A Share Redemptions |
GrowthWorks Canadian Fund Granted Further Regulatory Order for Closure of Class A Share Redemptions |
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GrowthWorks Canadian Fund Granted Further Regulatory Order for Closure of Class A Share Redemptions
TORONTO, ONTARIO--(Marketwire - July 31, 2012) - As previously announced, on November 10, 2011, GrowthWorks Canadian Fund Ltd. ("Canadian Fund") obtained an initial regulatory order in connection with the Board of Directors' decision to close Class A share redemptions. On April 16, 2012, the initial order was extended to July 31, 2012. Canadian Fund announced today the granting of a further order (the "Order") that extends the effect of the initial order to November 30, 2012. Canadian Fund intends to apply for a further extension of the Order. While other retail venture capital funds have secured similar orders extending for two years and beyond, Canadian Fund's application is considered novel due to the terms of the redemption management plan adopted by the Board of Directors and based on Canadian Fund's capital structure, including the financing arrangements referred to below.
View More : http://www.marketwire.com/mw/release.do?id=1685904&sourceType=3
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