SASKWORKS VENTURE FUND FULLY-SUBSCRIBED FOR 2018 TAX CREDIT-ELIGIBLE INVESTMENTSFebruary 4, 2019
As of 9:00 AM CST on February 4, 2019, SaskWorks Venture Fund Inc. (the “Fund” or “SaskWorks”) has reached its annual thirty-five million-dollar (CDN) ($35,000,000.00) fundraising limit and is fully-subscribed for 2018 tax year-eligible investment. Under The Labour-sponsored Venture Capital Corporations Act and the Income Tax Act (Canada), the Fund is required to decline subscriptions received subsequent to the Fund’s annual limit being reached and return them to sales representatives unaccepted.
SaskWorks will re-open for subscription sales after March 31, 2019. T2C tax credit receipts issued for investments made after this date will be eligible for use against 2019 tax filings.
About SaskWorks Venture Fund Inc.
SaskWorks Venture Fund Inc. is a Saskatchewan-based retail mutual fund that invests in small- and medium sized private businesses. Established in 2001, SaskWorks has more than 28,000 shareholders and over $518 million in assets under management.
Certain information included in this press release is forward-looking, within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “plan”, “intend”, “forecast”, “future”, “guidance”, “may”, “predict”, “project”, “should”, “strategy”, “target”, “will” or similar words or phrases suggesting future outcomes or language suggesting an outlook.
The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by the Fund. The Fund believes the expectations and assumptions upon which the forward-looking information is based are reasonable. However, no assurance can be given that these assumptions and expectations will prove to be correct. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release.
Actual results may vary from the forward-looking information presented in this press release, and such variations could be material. Risk factors and uncertainties could cause actual results to vary from the forward-looking information in this press release. Additional information on forward-looking statements and other factors that could affect the Fund are included in documents on file with Canadian securities regulatory authorities and may be accessed through the Fund’s profile on the SEDAR website (www.sedar.com).
These forward-looking statements are made as of the date hereof and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Fund assumes no obligation to update or revise them to reflect new events or circumstances.
For further information please contact:
Investor Relations – Relationship Manager
SaskWorks Venture Fund Inc.