REGINA, March 7, 2014 /CNW/ - As of 4:00 p.m. CST on March 6, 2014, SaskWorks Venture Fund Inc. (the "Fund") has re-opened for subscription sales. Without exception, purchase transactions initiated after this time/date will be issued T2C tax credit receipts eligible for the 2014 tax year.
Under the Labour-Sponsored Venture Capital Corporation Act and the Income Tax Act (Canada), SaskWorks' annual fundraising is capped at forty million (CDN) ($40,000,000.00) annually. Consistent with these regulations, the Fund will continue to accept 2014 tax credit-eligible investments until the earlier of this limit being reached or March 2nd, 2015.
SaskWorks Venture Fund is a Saskatchewan-based labour-sponsored investment fund that invests in small- and medium-sized private businesses. SaskWorks currently has over 27,000 shareholders and has approved for investment $310 million in 96 companies.
SOURCE: SaskWorks Venture Fund Inc.
For further information:
Randy Beattie, Chief Executive Officer; or,
Rob Duguid, Vice President, Chief Financial Officer and Corporate Secretary