TORONTO, April 8 /CNW/ - VentureLink Innovation Fund Inc. (the "Fund")
announced today that Mr. John Varghese has resigned as CEO and as a
director of the Fund, effective immediately.
This resignation is further to the announcement of March 4th, 2011 where it was announced that Mr. Varghese would be selling his
interest in VL Advisors Inc, the manager of the Fund, to Messrs. Jim
Whitaker and Geoff Horton, the remaining partners of VL Advisors Inc.
That sale transaction closed today, resulting in Mr. Varghese also
resigning as CEO and Managing Partner of VL Advisors Inc.
"The board of directors of the Fund would like thank Mr. Varghese for
his involvement with the management and direction of each of the
VentureLink Funds since late 2005. We wish him well in his future
endeavours." said Iain Robb, director and acting Chairman of the Fund.
Mr. Geoff Horton has assumed responsibility for Mr. Varghese's duties as
VentureLink Innovation Fund Inc. has approximately $190 million under
management, its objective is to realize long-term capital appreciation
by making debt and equity investments in a diversified portfolio of
securities in eligible Canadian businesses and by investing in
reserves, including debt instruments whose returns are linked to the
performance of the TSX and the financial services sub-index of the TSX
while giving investors access to a well-diversified portfolio of
established companies operating in traditional industries such as
financial, manufacturing and service industries as well as dynamic
industries like information technology and alternative energy. For more
information please visit: www.venturelinkfunds.com.
SOURCE VentureLink Funds
For further information:
VL Advisors Inc.