VANCOUVER, June 30, 2015 /CNW/ - (TSXV: PTF) Pender
Growth Fund (VCC) Inc., (the "Fund") announces that it has entered
into a binding agreement to sell its interest in one of its
significant investments. The Fund is also adjusting down the value
of another investment.
As a result of these two developments, the net asset value of
the Fund will increase by approximately $2.4
million or $0.60 per Class C
common share. As of today, the total net asset value of the Fund is
approximately $17.0 million or
$1.91 per Class C common share.
As a result of this transaction, the Fund anticipates that it
will be in a position to redeem approximately $3 million of Class B and R shares that have been
submitted for redemption.
The closing of the transaction is expected take place before the
end of July. The Fund will provide further details at that
time.
About Pender Growth Fund
The Fund is a later-stage,
diversified, venture capital corporation, focused on undervalued
public companies. The Fund's investors in British Columbia received a tax credit of 30%
from the provincial government at the time of purchase. The Fund
was established in 2003 and its net asset value is approximately
$17.0 million.
SOURCE Pender Growth Fund (VCC) Inc.