Portfolio

	Sector	Investment	Description
	Telecommunications	$839,000	24-7 Intouch is a national call centre corporation specializing in inbound call support services and web-based customer support. A dynamic management team and flexible service offerings have gained 24-7 Intouch recognition as one of Canada's Top 50 Fastest Growing Companies by Profit Magazine and as one of the Top 50 Teleservices Companies globally by Customer Inter@ction Solutions two years in a row.
Agco Ag Ventures	Farmland	$20,000,000	Agco Ag Ventures is focused on the acquisition and rental of farmland in Saskatchewan. Agco's principals have identified farmland as a low-risk form of participation in the growing market of agricultural investments, a sector that is expected to benefit from such world fundamentals as growing population, declining arable land per capita, and increasing disposable income in developing countries.
	Oil & Gas Production	762,000	Pearl Exploration & Production Ltd's acquisition of Blackcore Resources Inc. created the new entity, Black Pearl Resources Inc. This publically traded company's interests are primarily in Alberta, Saskatchewan, Texas and California. SaskWorks acquired shares through the sale of Cipher Exploration Inc.
	Oil and Gas	$2,554,000	Caltex Resources engages in heavy oil and natural gas exploration in Western Canada. The company’s management team created substantive value with its most-recent heavy oil iteration and will deploy a similar combination of strategic acquisitions and organic growth through economic and technically-robust plays. The Fund’s investment in Caltex is a result of the company’s acquisition of SaskWorks’ investee TriWestern Energy Corp.
	Industrials	$1,600,000	Camco Plumbing, Heating and Air Conditioning Ltd. is a full-service company that serves both residential and commercial customers. SaskWorks' investment in Camco will support the acquisition of Regina-based Bronco Plumbing and Heating Ltd. Bronco Plumbing and Heating will continue to operate under its trade name.
	Oil & Gas Services	$3,113,000	CanElson Drilling Inc. is a privately-held oil and gas drilling services company with operations focused in the Bakken Formation in the Western Canadian Sedimentary Basin. Led by the founder of Western Lakota Energy Services, Mr. Elson McDougald, CanElson deploys a similar model of partnerships with First Nations communities to develop employment opportunities.
	Financials	$1,975,000	The Cathedral Village Limited Partnership has acquired 5 apartment buildings in the Cathedral and Transition areas with the purpose of executing a condo conversion project.
	Industrials	$900,000	Community Electric Ltd. (CEL) is an electrical contractor specializing in the design and installation of electrical systems for industrial, commercial and agricultural projects. Established in 1978 in Hague, SK, the company has since relocated its head office to Saskatoon, SK and has expanded into Alberta and Manitoba.
	Oil & Gas Production	$42,000	Cipher Energy Inc. is a natural gas producer located in West Central Saskatchewan.
	Industrials	$733,000	With sales in Canada, the United States and Asia, Comco is Western Canada's leading supplier of control systems for industrial applications and liquid nutrient applicator units to the world feed mill industry. SaskWorks' investment will assist with the development of several exciting new products.
	Industrials	$2,000,000	Based in Saskatoon, Crestline is Canada's leading manufacturer of ambulance chassis and specialty transit vehicles. SaskWorks Venture Fund led a multi-million dollar management buy-out that features the Canada Pension Plan, Canada's largest pension fund, as co-investor.
	Oil & Gas Services	$2,895,000	Crusader Drilling Corp. is a privately held drilling company that services the oil and gas market. Based in Yorkton, Saskatchewan, the company's core customer target group includes those oil and gas companies drilling Saskatchewan's Bakken formation.
	Industrials	$1,170,000	Elgin Developments Limited Partnership will coordinate the site development and construction of a condominium project on the former Elgin School property in Weyburn, Saskatchewan. Working with a respected builder to produce high-quality units, Elgin's experienced management team will capitalize on Weyburn's near 0% vacancy rate and the development's desirable location to secure buyers.
	Consumer Discretionary	$323,000	Factory Optical is a retail optical dispensary chain with locations in both Saskatchewan and Alberta. Its lens surfacing laboratories and wholesale discounts enable it to dispense 2 designer products for the price of one.
	Industrials	$6,474,000	Hi-Tec Profiles Inc. is a Regina-based steel-processing company (Laser/Torch/Plasma Cutting & Forming) that services agricultural and industrial equipment manufacturers. Founded in 1995, Hi-Tec is a fundamental step in the production of large agricultural implements, equipment used in potash mines and steel mills, electrical transformers, as well as numerous miscellaneous items.
	Consumer Discretionary	$13,650,000	Hospitality Network provides patient television, telephone and Internet rental services to hospitals and seniors' care homes across Canada. Headquartered in Regina, the company has established itself as the industry leader, demonstrating sector expertise and maintaining long-standing client relationships.
	Retail Energy	$564,000	Just Energy Income Fund is an open-ended, limited-purpose trust which distributes natural gas and electricity to residential and commercial customers in Ontario, Manitoba, Alberta, British Columbia, Quebec, Illinois, New York and Indiana. SaskWorks acquired shares of Just Energy through its acquisition of Universal Energy Group.
	Oil & Gas Production	$463,000	Keystone Royalty Corp. (originally Keystone Petroleums Ltd.) was formed upon the sale of Keystone Energy Inc. to Starpoint Energy Ltd. Keystone owns one of the most significant fee title acreage holdings in the province.
	Industrials	$850,000	Englefeld based Koenders continues to generate strong earnings as it pushes into U.S. markets. Koenders has established wholesaling locations in both Regina and the United States.
	Industrials	$1,684,000	Lazar is an agricultural, yard maintenance and light construction equipment dealership located in Meadow Lake. Founded in 1955, the company has grown from a General Motors Dealership to Western Canada's largest New Holland single-store hay equipment dealer.
	Financials	$1,813,000	Lewvan Village is an apartment complex located in the southwest area of Regina that consists of 6 apartment buildings (with a total of 126 units). Rock Bridge Custom Homes and Developments a property development company in Regina has purchased Lewvan Village and is proposing to convert the apartment units into condominiums for resale.
	Industrials	$407,000	Mainstream Water Solutions is an integrated water testing and treatment company. Mainstream represents the merger of three companies which provided these high growth potential products and services: Chemical-free water treatment; Independent water analysis laboratory services; Ozone water treatment systems.
	Oil & Gas Production	$1,427,000	SaskWorks acquired shares in NAL Oil and Gas Trust as a result of the sale of Spear Exploration. This publically traded trust focuses primarily on the SE region of Saskatchewan and central Alberta.
	Oil & Gas Production	$2,913,000	SaskWorks acquired shares in the newly formed, PetroBakken Energy Ltd., as a result of the sale of TriStar Oil and Gas Ltd. Petrobank Energy and Resources Ltd. purchased TriStar combining it with its conventional oil assets to spin out the new entity focused in southeastern Saskatchewan.
	Consumer Discretionary	$3,800,000	Pines PowerSports & Marine is a full-service BRP dealership specializing in the sales and maintenance of outdoor recreational vehicles. SaskWorks' investment in the company allowed Pines' management team to purchase the business from its original owners.
	Consumer Staples	$1,860,000	Prairie Hog Production, L.P. backed Big Sky Farms' expansion. With over 40,000 sows, Big Sky is Saskatchewan's largest and most efficient hog producer. Prairie Hog's operations are now located at Ogema and Rama.
	Industrials	$2,935,000	Premium Spray Products Canada (formerly Hesterman Technical Services Inc.) is distributor of polyurethane foams, industrial coatings and application equipment, providing services to the growing residential, commercial and industrial construction markets.
	Industrials	$2,083,000	Regina based, ProMetal Industries has two primary divisions. ProMetal's custom capabilities division focuses on commercial products such as reception kiosks, workstations, restaurants and also the oil and gas, potash and steel manufacturing industries. The newest division, Excelguard, manufactures bumper guards for light trucks focusing primarily on the oil field services and truck fleet sales market in Canada.
	Oil & Gas Services	$3,213,000	Rotex Energy Inc. is involved in the treatment, processing and disposal of oilfield wastes. Rotex's range of service, including both solid and liquid waste processing capabilities, represents a significant competitive advantage will allow for the company's future growth.
	Consumer Staples	$4,284,000	R. Young Seeds operates a successful high throughput pulse/grain processing and color sorting operation near Mortlach, Saskatchewan. SaskWorks Venture Fund led a syndicated transaction to triple the processing operation's capacity.
Regina Asset Management LP	Financials	$1,500,000	Regina Asset Management is a locally owned and operated real estate holding and development company focusing on commercial property in Regina. Its current focus is a redevelopment of the Sherwood Village Mall.
	Financials	$500,000	The Saskatchewan Entrepreneurial Fund is a source of investment capital for promising small businesses requiring $1 million or less in capital.
Sky Harbour Developments LP	Financials	$5,686,000	Sky Harbour Developments LP will coordinate the development and construction of 314 apartment-style rental units in Regina's Harbour Landing neighborhood. Sky Harbour's principals are also responsible for the development company that created existing SaskWorks investees Lewvan Village LP and Cathedral Village Developments LP.
	Real Estate	$1,300,000	Sky Pointe Developments LP will coordinate the development and construction of 75 apartment-style rental units in Regina's Northwest. Sky Pointe's principals are also responsible for the development company that created existing SaskWorks investees Lewvan Village LP, Cathedral Village Developments LP and Sky Harbour Developments LP.
	Oil and Gas	$1,000,000	Spur Resources has oil and gas assets in Alberta and Saskatchewan and is well-regarded for its operating efficiencies. SaskWorks' investment will help finance the company's acquisition of assets in Western Saskatchewan and provide operating capital to allow for Spur's ongoing development.
	Consumer Discretionary	$4,582,000	Regina-based StorageVault Canada Inc. owns and operates self-storage facilities that provide fixed-unit and portable storage solutions for residential or commercial use. The company has developed a growth strategy that supports continued acquisition and consolidation of self-storage facilities and the roll-in and operation of the StorageVault-owned PUPS (Portable Unit Portable Storage) franchise at those locations. The common shares of StorageVault are listed on the TSX Venture under the symbol SVI.
	Alternative Energy	$5,069,000	SaskWorks co-led a syndicate of subordinated debt providers which has committed $40 million as part of the $130 million/150 million litre Terra Grain Fuels ethanol project. Located at Belle Plaine, Terra Grain is capitalizing on the fast-growing bio-fuels market and will be the largest wheat based ethanol plant in Canada, consuming over 15 million bushels of Saskatchewan feed wheat each year.
Triwest Exploration Inc.	Oil & Gas Production	$1,650,000	Triwest Exploration Inc. is the second start-up entity created by this highly regarded management team. This exploration and development company is focused on SE Saskatchewan's light oil.
	Consumer Discretionary	$1,000,000	Temple REIT is an income generating real estate investment trust. The company was formed to acquire Temple Gardens Mineral Spa, Saskatchewan's premier spa facility and resort hotel located in Moose Jaw Saskatchewan. The property boasts a 4½ star rating complete with a full service spa treatment centre and geo-thermal mineral water pool. Temple REIT acquired 6 additional properties in the last year.
	Oil & Gas Production	$1,602,000	Villanova Oil Corp. is the sixth high-growth exploration and production company to be operated by the same talented management team. This start-up will be light/medium oil-weighted company with operations focused in Southeast Saskatchewan.
	Consumer Discretionary	$2,989,000	Visima Holdings Inc., part of the Factory Optical Group of companies, focuses on acquisitions, franchising and new store development, through a vertically integrated business model. Based out of Saskatchewan, the Company's operations extend through Western Canada with the United States representing a further growth destination.
	Industrials	Gifted Equity	Wascana is involved in the collection, sorting and resale of recyclable materials across Saskatchewan. SaskWorks provided working capital to finance significant growth in the business. Wascana has repaid the initial investment, but SaskWorks retains gifted equity in the company. The company has recently renamed itself Go-Green Recycling.
	Industrials	$1,300,000	SaskWorks Venture Fund led a syndicated multi-million dollar transaction to complete the repurchase of a successful rental equipment company by the management team that originally built the business. Locations include Regina, Saskatoon, Winnipeg and Brandon.
	Oil & Gas Production	$3,125,000	WestFire is a privately held oil and gas exploration and development company, formed in 2007 to acquire below-market oil and gas entities, enhance the value of them and generate opportunities funded by internal operations. The company is planning to do the majority of its drilling in Saskatchewan, however, its current production is split almost evenly between Saskatchewan and Alberta.
	Telecom-munications Services	$3,754,000	IM Wireless Communications Ltd., a SaskTel authorized dealer, is the parent company of The Wireless Age and Wireless Source, providing cellular and telecommunications solutions, products and services in Regina, Saskatoon and across Canada.
	Oil & Gas Production	$223,000	Zargon is a small-intermediate technologically focused oil and gas company working in the Western Canadian and Williston sedimentary basins. SaskWorks received shares in Zargon from the sale of Churchill Energy.