Pender Growth Fund Completes INSCAPE Share Purchase Transaction

VANCOUVER, British Columbia, Nov. 18, 2020 (GLOBE NEWSWIRE) — Pender Growth Fund Inc. (TSXV: PTF) (“PGF” or the “Company”) announces today that, further to its press release dated October 30, 2020, PGF has completed the second and final tranche (the “Final Tranche”) of the share purchase transaction with Bhayana Management Ltd. and The Madan and Raksha M. Bhayana Family Foundation (collectively, the “Vendors”) pursuant to the terms of the Share Purchase Agreement entered into between PGF and the Vendors on October 30, 2020, as amended (the “Purchase Agreement”).PGF today purchased from the Vendors a total of 3,345,881 Class B Subordinated Voting Shares (the “Subordinated Voting Shares”) in the share capital of INSCAPE Corporation (TSX: INQ) (“Inscape”) at the price of $0.65 per Subordinated Voting Share, for an aggregate purchase price of $2,174,822.65, all upon the terms and conditions of the Purchase Agreement.Upon closing of the Final Tranche, PGF and other funds managed by PenderFund Capital Management Ltd. hold in aggregate 7,927,321 Subordinated Voting Shares, or approximately 55.12% of the total issued and outstanding Subordinated Voting Shares of Inscape (calculated on a non-diluted basis). Of this amount, PGF holds 6,886,981 Subordinated Voting Shares, or approximately 47.89% of the total issued and outstanding Subordinated Voting Shares of Inscape (calculated on a non-diluted basis).For additional details regarding the transaction, please see PGF’s press release dated October 30, 2020, available under PGF’s profile on SEDAR at www.sedar.com.About Pender Growth Fund Inc.
Pender Growth Fund Inc. is an investment company with the objective of achieving long-term capital appreciation for its investors. The company utilizes its small capital base and long-term horizon to invest in unique situations; primarily small cap, special situations, and illiquid public and private companies. The company trades on the TSX Venture Exchange under the symbol “PTF”.
Please visit www.pendergrowthfund.com.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking InformationThis news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to PGF’s investment in Inscape and the environment in which PGF operates. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the Company’s expectations, estimates, forecasts and projections and include, without limitation, statements regarding the Company’s decreased portfolio risk and future investment opportunities. The forward-looking statements in this news release are based on certain assumptions; they are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading “Risk Factors” in the Company’s annual information form available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.For further information, please contact:
Tony Rautava
PenderFund Capital Management Ltd.
(604) 653-9625
Toll Free: (866) 377-4743

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.