REGINA, March 5, 2015 /CNW/ - As of 3:00 p.m. CST on March 5, 2015, 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 2015 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 2015 tax credit-eligible investments until the earlier of this limit being reached or February 29, 2016.
SaskWorks Venture Fund is a Saskatchewan-based labour-sponsored investment fund that invests in small- and medium-sized private businesses. Established in 2001, SaskWorks has over 27,900 current shareholders and has approved for investment over $354 million.
SOURCE SaskWorks Venture Fund Inc.
For further information: Randy Beattie, Chief Executive Officer; or, Rob Duguid, Vice President, Chief Financial Officer and Corporate Secretary, (306) 791-4833