SASKATOON, March 22, 2013 /CNW/ - As part of the 2013 federal budget the
federal government announced its proposal to phase out the federal
Labour-Sponsored Venture Capital Corporations ("LSVCC") tax credit by
2017. The federal tax credit will remain at 15% for the next two RRSP
seasons (2014 and 2015) and will then begin to be phased out. The
federal government will consult with stakeholders on potential changes
until May 31, 2013. The announced changes to the federal LSVCC tax
credit do not affect the provincial LSVCC tax credits of 20% in
Saskatchewan which was reconfirmed in the provincial budget on March
Golden Opportunities Fund Inc. ("Golden") and SaskWorks Venture Fund
Inc. ("SaskWorks") are disappointed that the federal government has
decided to phase out its federal support of a program that has provided
needed venture capital to the Saskatchewan economy. Golden and
SaskWorks on behalf of their 52,543 shareholders have completed
investment transactions of over $520 million in Saskatchewan growth
companies across different industry sectors, directly impacting the
future of Saskatchewan.
Golden has filed a prospectus in the Provinces of Saskatchewan and
Manitoba containing important detailed information relating to the
securities of Golden. Securities of Golden are only sold by registered
dealers under the prospectus. Copies of the prospectus may be obtained
on SEDAR at www.sedar.com. Investors should read the prospectus before making an investment
SaskWorks has filed a prospectus in the Province of Saskatchewan
containing important detailed information relating to the securities of
SaskWorks. Securities of SaskWorks are only sold by registered dealers
under the prospectus. Copies of the prospectus may be obtained on
SEDAR at www.sedar.com. Investors should read the prospectus before making an investment
Neither the Saskatchewan Financial and Consumer Affairs Authority nor
the Manitoba Securities Commission has approved nor disapproved the
information contained herein.
SOURCE: Golden Opportunities Fund Inc.
For further information:
President/CEO of Golden Opportunities Fund Inc.
President/CEO of SaskWorks Venture Fund Inc.