VentureLink Innovation Fund Inc. Honours 20% of NAV Shareholder Redemptions for Fiscal Year 2017 and Announces Closing Again

TORONTO, March 10, 2017 /CNW/ - VentureLink Innovation Fund Inc. (the Fund") announced today that year to date it has honoured in excess of $10.8 million in shareholder redemption requests. Having honoured those redemption requests, the Fund has processed shareholder redemptions during its fiscal year 2017 in excess of 20% of its net asset value as of December 31, 2016, is suspending further redemptions and will not be accepting further redemption requests at this time.

All orders placed prior to 4pm March 10, 2017 will be honoured. Trades placed after 4pm on March 10, 2017 will be rejected until the Fund reopens for redemptions.

Under the terms of the Fund's prospectus, the Fund is allowed to halt redemptions once that 20% of prior year ending NAV threshold has been met. The Board has taken this decision to ensure the Fund continues to operate in an efficient manner. The Board concluded that this suspension is required to maximize returns for all shareholders and is in the best interests of the Fund.

The decision follows careful consideration by the Board of the various alternatives available to the Fund and is expected to allow the Fund to reopen for redemptions on or about January 8, 2018 at which time the Fund anticipates that it will resume honouring redemptions of at least 20% of NAV of the Fund as at December 31, 2017, as laid out in the Fund's prospectus disclosure. Specific details on such future redemption opportunities will be released at a later date and will be posted to the Fund's website at www.venturelinkfunds.com

The Fund has previously disclosed its plans to divest of all of its holdings prior to December 31, 2018 and to wind up thereafter. The Fund continues to implement this plan, but anticipates certain circumstances where the time to complete divestment of the portfolio may be extended by twelve to eighteen months. The Fund is planning to honour annual redemptions of at least 20% of opening Net Asset Value in each calendar year until such time as the Fund has divested of all of its holdings and it can wind up.

About VentureLink:

Founded in 2000, VentureLink Innovation Fund Inc. (www.venturelinkfunds.com) is one of Ontario's longer-tenured venture capital providers. Managing approximately $45 million in venture capital assets on behalf of retail investors, VentureLink invests in small-and-medium businesses throughout many industry sectors. VentureLink Innovation Fund Inc. is headquartered in Toronto, Ontario.

SOURCE VentureLink Innovation Fund Inc.

For further information: Geoff Horton - Managing Partner, VentureLink Innovation Fund Inc., 416-681-6372, ghorton@venturelinkfunds.com

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VentureLink Innovation Fund Inc.

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