Business News • MarketWire • GrowthWorks Canadian Fund Provides Update on Participation Agreement with Roseway Capital |
GrowthWorks Canadian Fund Provides Update on Participation Agreement with Roseway Capital |
|
|
GrowthWorks Canadian Fund Provides Update on Participation Agreement with Roseway Capital
TORONTO, ONTARIO--(Marketwire - Aug. 6, 2010) - GrowthWorks Canadian Fund Ltd. ("Canadian Fund") provided an update today with respect to the previously announced Participation Agreement between Canadian Fund and Roseway Capital ("Roseway") whereby Roseway advanced $20 million to the Fund (the "Roseway Proceeds") in exchange for a participating interest in 15 investments in the Fund's venture investment portfolio (the "Participation Holdings"). The Participation Holdings had a total carrying value of approximately $100 million at the time of the advance. Roseway's participating interest entitles it to receive 20% of the proceeds generated from the sale or divestment ("Participation Payments") of the Participation Holdings. Roseway did not acquire shares of Canadian Fund or any securities of the Participating Holdings. Most of t
View More : http://www.marketwire.com/mw/release.do?id=1301483&sourceType=3
|
|
|