Golden Opportunities Fund Inc. provides investors the option to invest in new Innovation Shares and expands to Manitoba



    SASKATOON, Jan. 13 /CNW/ - Golden Opportunities Fund Inc. ("Golden
Opportunities" or the "Fund"), Saskatchewan's first and largest provincial
labour-sponsored fund, and 2004 Labour Fund of the Year in Canada, is pleased
to confirm that the Fund's shareholders have approved the expansion of the
Fund into Manitoba at the Annual General Meeting of Shareholders held on
December 8, 2008, it has been registered as a labour-sponsored venture capital
corporation under The Labour-Sponsored Venture Capital Corporations Act
(Manitoba) (the "Manitoba Act") and has been issued a receipt for a prospectus
in the Province of Manitoba.
    The capital raised by the issuance of shares to Manitoba residents will
be invested in Manitoba based businesses in accordance with the Manitoba Act
and shares of the Fund issued in Manitoba will be eligible for federal and
provincial tax credits equal to 30%. Golden Opportunities will continue to be
a key economic influence in Saskatchewan as all funds raised in the Province
of Saskatchewan will continue to be invested in Saskatchewan's diverse economy
and be eligible for a 35% tax credit.
    In addition to its current diversified Class A shares, the Fund will
immediately provide investors the added option of investing in a new
Innovation Share ("I Shares" or "Innovation Shares"), as more fully set out in
the prospectus, which will invest in a diversified base of innovation
companies with exciting technologies, patents and processes. The Innovation
Share will have similar tax credits in addition to the benefit of loss support
contributions aimed at supporting certain losses, if any, in connection with
an agreement made with Western Economic Diversification Canada. The capital
raised from the issue of Innovation Shares would be invested in a portfolio of
technology-based companies ranging from life science, information and
communication technology, biotechnology, energy and clean technologies,
advanced manufacturing and value added agriculture.
    Grant Kook, President/CEO of the Fund indicates: "We are today
celebrating a decade of investing in Saskatchewan and are very proud of our
accomplishments, milestones, and returns that we have been able to post. We
are equally excited about the future of the Fund. With the option for
investors to purchase Innovation Shares, investors can participate in a
knowledge-based economy driven by innovation which is becoming more important
in today's world due to demand for increased productivity, an aging population
and move to clean technologies. The expansion into Manitoba enables the Fund
to continue to increase its capital and interest for the Fund in neighboring
jurisdictions. Saskatchewan and Manitoba are forecasted by most financial
institutions and the Conference Board of Canada to lead Canada in economic
growth."
    The Fund has filed a prospectus in the Provinces of Saskatchewan and
Manitoba containing important detailed information relating to the securities
of the Fund. Securities of the Fund 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 decision.

    Golden Opportunities is Saskatchewan's first and largest provincial
labour-sponsored investment fund, having raised over $130 million in share
capital to date from approximately 17,000 shareholders. The Fund, in the past
decade of investing, has completed over 100 investment transactions in 80
different Saskatchewan growth companies across 13 different industry sectors
for diversification, thereby directly impacting the future of Saskatchewan.

    
    Neither the Saskatchewan Financial Services Commission nor the Manitoba
    Securities Commission has approved nor disapproved the information
    contained herein.
    





For further information:

For further information: Grant Kook, CEO/Chairman of Golden
Opportunities Fund Inc. at (306) 652-5557

Organization Profile

Golden Opportunities Fund Inc.

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