About SaskWorks

As at August 17, 2018

SaskWorks Diversified (Class A - Series A) $20.5230 SaskWorks Resources (Class R - Series A) $11.5836

SaskWorks Diversified (Class A - Series F) $21.8594 SaskWorks Resources (Class R - Series F) $11.9728

Management Team

As one of Saskatchewan’s largest venture capital and private equity managers, our team has a proven track record – not only in building long-term growth for investors, but also for job creation. Our team is leading the way to a stronger Saskatchewan by focusing on community goals.

The SaskWorks management team is led by President and Chief Executive Officer, Randy Beattie; Vice President, Investments, Chris Selness; and Vice President, Chief Financial Officer and Corporate Secretary, Rob Duguid.

PFM Capital Inc., the manager of SaskWorks, also manages Apex Investment Fund, Prairie Ventures Limited Partnership, Top Soil, and the Saskatchewan Entrepreneurial Fund. This breadth of activity means the managers at SaskWorks Venture Fund have an unparalleled ability to engage in larger, late stage organizations that carry a lower degree of risk. This also allows us to effectively participate in follow-on investment activity as our investee companies succeed and grow. Just as we view effective management teams as a key success factor in our investee companies, we also believe that our own management team is the strongest in Western Canada.

You’ve seen the indicators of success. Now let’s meet the team of dedicated professionals that makes SaskWorks Venture Fund work.

Randy

Randy Beattie, President & Founding Partner


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Randy Beattie is the President and a founding partner of PFM Capital. Through his career, Mr. Beattie has developed nearly thirty years of extensive experience in all facets of private equity and venture capital management, including investment management, fundraising and investor relations, governance and fund operations. Mr. Beattie is the President and CEO of SaskWorks Venture Fund Inc., Prairie Ventures Fund LP, Saskatchewan Entrepreneurial Fund, Apex Investment LP, and Apex II Investment Fund LP.

Mr. Beattie holds a number of directorships for PFM’s portfolio companies including, Factory Optical, Hospitality Network, and Hi-Tec Profiles Inc. Furthermore, Mr. Beattie is an entrenched member of Saskatchewan’s business community, having developed a broad network of local colleagues and major stakeholders. Beyond his duties at PFM, he is a board member for Chamber Insurance Corporation of Canada, Junior Achievement and the Saskatchewan Roughriders Football Club, the Chair of the Saskatchewan Financial Literacy Network and is a former Chair of the Saskatchewan Chamber of Commerce.

Rob

Rob Duguid, Chief Executive Officer & Founding Partner


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Rob Duguid is a founding partner and the Chief Executive Officer of PFM Capital. Mr. Duguid formally joining the firm in 2003 from Crown Capital Partners, where he served as a partner from 2000-2003. Prior to his position at Crown Capital, Mr. Duguid was Vice President of Investments with the Saskatchewan Government Growth Fund Management Corporation (SGGF), a $155 million immigrant investor fund, one of the largest of such funds in Canada.

Over a long career in private equity and venture capital that began in the early 1990s, Mr. Duguid has developed a deep understanding of private investment management. As CEO of PFM and an officer of all of investment funds that PFM manages, Mr. Duguid is particularly focused on PFM’s portfolio management and decision-making. He also holds a number of directorship positions for portfolio companies including Steel Reef Infrastructure Corp., Auctus Property Fund LP, StorageVault Canada Inc. and the All-Fab Group of Companies.

Chris Selness, CFA, MBA, Vice President Investments


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Chris Selness serves as Vice President Investments for SaskWorks Venture Fund Inc. Mr. Selness has spent over 16 years in the private equity industry at PFM and Crown Capital Partners, in addition to a vast array of experience working within the investment field for over 25 years. Mr. Selness was previously an executive of Crown Life Insurance Company and Canada Life Assurance Company, playing an integral role in the transition of Canada Life’s acquisition of Crown Life.

Mr. Selness is actively involved, and holds directorships in a number of PFM’s portfolio companies, particularly those within the agricultural sector where he possesses an intimate knowledge. Mr. Selness is the President and CEO of TopSoil Farm Land Management and TopSoil II Farm Land Management which manages farm land in Saskatchewan for individual and institutional investors.

Mike

Mike Merth, CPA, CA, CMA, Chief Financial Officer & Partner


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Mike Merth is the Chief Financial Officer and a partner of PFM Capital. Mr. Merth joined PFM in 2004 and has led the accounting departments of several private equity funds for the past 20 years, including his current role as the CFO for PFM Capital and previously for Crown Capital Partners and SGGF. As CFO at PFM, Mr. Merth is responsible for the accounting processes and controls of the firm and its investment funds under management, including cash management, budgeting, other financial-driven supporting functions to the investment team.

Jason Moser, CFA, CBV Director of Investments & Partner


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Jason Moser is a Director of Investments and partner of PFM Capital. Mr. Moser joined PFM in 2008 and is responsible for managing the firm’s energy portfolio. Prior to joining PFM, Mr. Moser worked on the trading desk for Capital Power Corp. (formerly EPCOR Merchant & Capital) and as an oil and gas equity research associate for Raymond James in Calgary.

Mr. Moser is well-integrated in the tightly-connected network of oil and gas management teams and large investors in the sector, providing PFM with key access to deal flow.  In addition to his role overseeing the firm’s investments in the oil and gas sector (which is ~30-40% of PFM’s aggregate portfolio), Mr. Moser is an important member of the overall investment team, providing investment insight and proficient analytical skills across the sectors in which PFM invests.

Mr. Moser holds a number of directorships for portfolio companies and is an active volunteer within the local community including the Queen City Kinsmen, where he served as a board member for a number of years.

Johanna

Johanna Salloum, CFA, Director of Investments & Partner


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Johanna Salloum is a Director of Investments and partner of PFM Capital. Ms. Salloum joined PFM in 2007 at the inception of her career and has held various roles within the investment team over the past 11 years.

As a Director of Investments, Ms. Salloum is responsible for managing a portion the firm’s diversified portfolio alongside the CIO. Ms. Salloum’s diligence and consistency on the investment team are instrumental to the long-term success of the portfolio. In addition to her work with specific portfolio companies, Mr. Salloum assists with the overall management of the portfolio and the management of the funds.

Ms. Salloum holds directorships with a number of portfolio companies, as well as Canadian and local organizations, serving as a board member of CFA Societies Canada, the President of the Board of CFA Saskatchewan, and the President of the Board of Trustees of the Mackenzie Art Gallery in Regina.

René Benoit, CFA, ICD.D, Director Business Development & Investment, & Partner


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René Benoit is a Director of Business Development and Investments and partner of PFM Capital. Mr. Benoit joined PFM Capital Inc. in 2008 and has over 15 years of experience within the investment management sector. Prior to PFM, Mr. Benoit worked for a number of years within the Saskatchewan Credit Union system, including Concentra Financial, a financial and trust intermediary to credit unions, and the Credit Union Deposit Guarantee Corporation, the regulatory body for Saskatchewan credit unions.

Mr. Benoit is an active member of both PFM’s business development team and investment team, bridging the two and leading the firm’s deal origination activities. Mr. Benoit is also a key member of the firm’s investor relations team, promoting the firm’s reputation and investment activities throughout the province. Mr. Benoit holds several directorships for portfolio companies in addition to the National Affordable Housing Corporation. He is the former investment committee chair of la Fondation Fransaskoise and board member of CFA Saskatchewan.

Jardin

Jardin Schnurr, Director - Investments


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Jardin joined PFM Capital in 2018.  He brings with him over 12 years of investment & portfolio management experience in the public markets.  Prior to joining PFM, he was on the U.S. Equity team at Greystone Managed Investments as Senior Portfolio Manager.

Jardin was raised in Regina and graduated from the University of Western Ontario with a Bachelor of Administrative and Commercial Studies with a specialization in finance.  He also holds the Chartered Financial Analyst (CFA) designation, the Chartered Alternative Investment Analyst (CAIA) designation, and the Derivative Market Specialist (DMS) designation.

As an active member of PFM’s investment team, Jardin plays an integral role in underwriting and due diligence for new transactions, investment decision-making within the portfolio, and leading the research team in looking at new sectors in which to invest.

Jardin served as President of the Board of CFA Saskatchewan.  In addition, he was the Founder and Executive Director of the Tour de Lumsden, a charity bike race in support of Regina Palliative Care Inc. which has raised over $1 million.

Jeff

Jeff Linner, CFA, CBV, Chief Investment Officer & Partner


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Jeff Linner is the Chief Investment Officer and a partner of PFM Capital, having joined the firm in 2009. Mr. Linner has served in the Private Equity industry in Saskatchewan for 15 years where he has held a number of positions, including Vice President at Crown Capital Partners.

With his tenure in the private equity industry, Mr. Linner brings to PFM depth of experience in both portfolio and fund management. As CIO, Mr. Linner is responsible for managing the firm’s investment team, implementation of the investment strategy and overseeing all major investment decision-making. Mr. Linner serves on the board of such portfolio companies as Hi-Tec Profiles Inc., Hospitality Network, and All-Fab Group of Companies. He is also on the board of the Canadian Venture Capital Association (CVCA) and the Regina Food Bank and is a former President of CFA Saskatchewan.

Marga

Marga Bos, Accountant


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Marga was born and raised in The Netherlands in the province of Groningen. In May of 2007 she and her family immigrated to Canada where they made a home in Balgonie SK. Marga has a college degree in accounting and has previous work experience as an accounting assistant and as a client services representative.

Eric Clark, CFA, Managing Director of Business Development & Partner


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Eric Clark is the Managing Director of Business Development and a partner of PFM Capital. Mr. Clark joined PFM in 2010 and as the head of Business Development is responsible for the creation and implementation of the firm’s fundraising and deal origination functions. Mr. Clark’s role touches on a number of key areas of the firm including investor relations and fund compliance, with particular focus on managing stakeholder relationships.

Mr. Clark is a member of the board of directors of the Regina Chamber of Commerce, the Saskatchewan Party and the Saskatchewan Capital Network.

Michael

Michael Truong, Investor Relations


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Michael joined the PFM team in 2015 after graduating from the University of Regina. He holds a Bachelor of Business Administration degree in Marketing. Previously, Michael worked at The Phoenix Group Advertising as a Media Buyer.

Michael is responsible for maintaining high-quality, timely communication with shareholders and financial advisors. He is also involved in marketing and event coordination.

Adam

Adam Laprairie, Investment Analyst


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Adam joined PFM Capital in 2015 as an Investment Analyst after graduating from the University of Regina. He holds a Bachelor of Business Administration in Finance and is currently a level II candidate in the CFA program.  Previously, Adam worked at Greystone Managed Investments Inc. as an Analyst Assistant on the real estate & mortgages team.

At PFM, Adam is responsible for providing analysis on the portfolios current investments and investment opportunities, as well as preparing quarterly reports and market research.

Janet

Janet Zakresky, Controller


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Janet Zakresky joined PFM Capital Inc. in 2010 as Controller. She received a Bachelor of Commerce (Distinction) from the University of Saskatchewan, with a major in accounting. Janet also earned a Bachelor of Education (Distinction) from the University of Regina, with a major in Business Education. In addition to her education, she has a diverse business background with experience in both public and private sectors, which served her well in her financial consulting business.

Ben

Ben Findlay, Investor Relations – Relationship Manager


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Ben is a member of the Investor Relations team at PFM Capital Inc. Graduating in 2014 from Arizona State University, Ben holds a Bachelor of Science degree in Human Communication and a Bachelor of Arts degree in Design Management; each with summa cum laude distinction. Previously, Ben held the position of District Manager for the Canadian Federation of Independent Business (CFIB) where he managed a large client base consisting of small/medium sized independent business owners in Saskatchewan and Manitoba. At PFM, Ben’s title is Relationship Manager — he plays an integral role in managing relationships with PFM’s key stakeholders, expanding the firm’s investor base, and providing top-tier service to PFM’s wide range of clients and prospects.

Ghalib Hemnani, Investment Analyst


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Ghalib joined PFM Capital in 2017 as an Investment Analyst. He holds a Bachelor of Commerce in Finance from the University of Ottawa and a Bachelor of Arts in Economics from Carleton University. Ghalib is currently a level 1 candidate in the CFA program and a level 1 student registered in the CICBV program of study.

Prior to joining PFM, Ghalib was an Analyst with a boutique valuation and corporate finance advisory firm in Ottawa, focusing on business valuations, financial modeling as well as buy-side and sell-side M&A transaction support. Ghalib was born and raised in Regina and held various student internship positions with Farm Credit Canada throughout his post-secondary studies, most recently with their Enterprise Risk and Portfolio Management team in 2015. He was a Relationship Manager Assistant with the Regina district prairie operations lending team at FCC in 2014 and 2013.

At PFM, Ghalib is responsible for providing analysis on the portfolios current investments and investment opportunities, as well as preparing quarterly reports and market research.

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READ OUR PROSPECTUS > This offering is made only by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained free of charge from your Investment Advisor or the agent, Industrial Alliance Securities Inc. (www.iavaleursmobilieres.ca). Investors should read the prospectus and consult an Investment Advisor before making an investment decision.