TORONTO, Feb. 28, 2014 /CNW/ - GrowthWorks Canadian Fund Ltd. (the "Fund") today announced that it obtained an order pursuant to section 133(b)
of the Canada Business Corporations Act extending the time for the Fund to call the next annual meeting of its
shareholders to a date on or before October 31, 2014.
Further details regarding this order and the Fund's Companies' Creditors Arrangement Act ("CCAA") Proceedings may be found on the website of the Court-appointed
monitor in the Fund's CCAA Proceedings at http://cfcanada.fticonsulting.com/GCFL/.
This press release contains forward looking statements, including
statements with respect to the CCAA Proceedings. These forward-looking
statements reflect the Fund's current views and are based on certain
assumptions, including assumptions as to future operating conditions
and courses of action, sale or refinancing alternatives, economic
conditions and other factors the Fund believes are appropriate. Such
forward looking statements are subject to risks and uncertainties that
may cause actual results to differ materially from those contained in
these statements, including the risk that a disposition of the Fund's
portfolio investments or refinancing or other strategic alternatives
may not be available on terms acceptable to the Fund, or at all, or
that any such disposition or other strategic alternative would yield
proceeds sufficient to satisfy in full the Fund's payment obligations
to Roseway Capital S.a.r.l., the Fund's other creditors or any
distribution to the Fund's shareholders; the risk that litigation or
defence proceedings involving claims by the former manager of the Fund
or other third parties against the Fund may involve substantial expense
and, if successful, could require the Fund to pay substantial damages;
and those risks and uncertainties disclosed in the Fund's most recently
filed prospectus and other regulatory filings posted on SEDAR at www.sedar.com. These risks and uncertainties may cause actual results, events or
developments to be materially different from those expressed or implied
by such forward-looking statements. Unless required by law, the Fund
does not assume any obligation to update any forward-looking
statements, whether as a result of new information, future events or
results or other factors.
SOURCE: GrowthWorks Canadian Fund Ltd.
For further information:
FTI Consulting Canada Inc. Court Appointed Monitor of GrowthWorks Canadian Fund Ltd.