SaskWorks Venture Fund Inc. announces it has reached its fundraising cap
REGINA, SK, Feb. 26, 2013 /CNW/ - As at February 26, 2013 at 3:15 CST, SaskWorks Venture Fund Inc. (the "Fund") has reached its annual fifty-five million dollar (CDN) ($55,000,000.00) fundraising limit and is fully-subscribed for the 2013 RSP season. Under the Labour-Sponsored Venture Capital Corporation 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 on March 6, 2013 at 4:00 pm. T2C tax credit receipts for investments made after this date will be eligible for use against the 2013 tax year.
SaskWorks Venture Fund is a Saskatchewan-based Labour-Sponsored Investment Fund that invests in small- and medium-sized private businesses. SaskWorks currently has over 26,000 shareholders and, since inception, has invested in 88 eligible businesses.
SOURCE: SaskWorks Venture Fund Inc.For further information:
Randy Beattie, Chief Executive Officer
Rob Duguid, Vice President, Chief Financial Officer and Corporate Secretary at