REGINA, Jan. 4, 2016 /CNW/ - SaskWorks Venture Fund Inc. ("SaskWorks" or the "Fund") has announced that its shareholders at an annual general and special meeting of shareholders held on December 18th, 2015 (the "Meeting") approved a special resolution authorizing the Fund to amend its articles to allow for the issuance of both Class A and Class A-R Shares in series (the "Amendment"). The Amendment allows the Fund to re-designate the existing Class A shares as Class A – Series A Shares and the existing Class A-R Shares as Class R – Series A Shares. In addition, each of the Class A and Class R Classes of shares shall offer for purchase Series F shares (the "Series F Shares") which are intended for fee-based accounts and will therefore not pay a selling commission or trailing commission to sub-agents of the Fund.
The Amendment takes effect as at the close of business on December 31, 2015 with the two series of Class A and Class R shares being available to investors on January 1, 2016. The Fund has received approval to amend its articles from the Ministry of the Economy of Saskatchewan and has issued an amended and restated prospectus dated December 31, 2015.
SaskWorks Venture Fund is a Saskatchewan-based retail mutual fund that invests in small- and medium-sized private businesses. Established in 2001, SaskWorks has more than 27,750 shareholders and over $397 million in assets under management.
SOURCE SaskWorks Venture Fund Inc.
For further information: Please contact SaskWorks' investor relations team at (306) 791-2113.