Business & Investment

Pender Private Investments reports a second 50% payment to former WOF shareholders

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Vancouver, British Columbia, November 25, 2021 — Pender Private Investments Inc. (“PPI”), formerly Working Opportunity Fund (EVCC) Ltd. (“WOF”) will be issued to a former WOF shareholder (“existing shareholder”) for the remaining 50% of the proceeds from the sale of WOF shares for the second scheduled payment.

As previously reported, on May 28, 2021, approximately 97% of PPI’s outstanding “Venture Series” shares were sold to Pender Growth Fund Inc. (“Transactions”). In this transaction, Venture Series shares were acquired for cash consideration unless Venture Series shareholders chose to continue to hold shares.

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A May 31, 2021 news release describing the transaction is available here.
https://www.penderfund.com/wof-transaction-venture-series/

Second 50% payment
(Applicable to fund code WOF900)

Starting November 25, 2021, existing shareholders were entitled to $ 0.7578 per share (the remaining 50% of earnings per share). This, together with all cash payments under the Transaction to date, is equivalent to $ 2.7818 per share. Therefore, existing shareholders will receive approximately 80% of their net asset value (“NAV”) compared to the originally announced 43.5% of NAV.

The shares of WOF Venture Series were acquired on May 28, 2021 at 43.5% of NAV. In addition to $ 0.7579 per share paid to existing shareholders as of May 28, 2021 (the first 50% of revenue per share under the Transaction), the withdrawal of the existing previously reported portfolio As a result, shareholders received an additional payment of $ 1.2661 per share on October 13, 2021.

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Withdrawal shareholders will continue to hold the balance of WOF Withdrawal Venture Shares (WOF900) to facilitate additional cash payments, if applicable.

The payment was made to the account in which the WOF Exit Venture Stock (WOF900) is held. Additional information is available on the Post-Transaction Q & A tab at the following link. https://www.penderfund.com/wof-transaction-venture-series/

About Pender Private Investments
Pender Private Investments Inc. is Pender Growth Fund Inc. through the acquisition of another venture capital fund. An investment entity with a portfolio of technology companies acquired by.

For more information, please contact:
Tony Lautaba
PenderFund Capital Management Ltd.
(604) 653-9625
Toll-free number: (866) 377-4743

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Information about the future outlook
This news release contains specific “forward-looking statements” and specific “forward-looking information” as defined by applicable Canadian and US securities laws (collectively, “forward-looking statements”). is included. Forward-looking statements generally refer to future statements such as “may,” “do,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” and “continue.” It can be identified using outlook terms. “Plan”, “potential” or similar terms. These statements are based on PPI expectations, estimates, forecasts, and forecasts. The forward-looking statements in this news release are based on certain assumptions. They do not guarantee future performance and carry risks and uncertainties that are difficult to control or predict. Due to many factors, actual results may differ materially from those described in the forward-looking statements. Actual results and results may differ materially from those expressed in these forward-looking statements and there is no guarantee that the forward-looking statements will be proven to be accurate. Therefore, the reader should not place excessive reliance on such forward-looking statements. In addition, these forward-looking statements were made as of the date of this news release and, unless expressly required by applicable law, we are liable to be the result of new information. Nevertheless, we undertake no obligation to publicly update or revise any forward-looking statement. , Future events or others.

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Pender Private Investments reports a second 50% payment to former WOF shareholders

https://financialpost.com/globe-newswire/pender-private-investments-reports-on-second-50-payment-to-former-wof-shareholders Pender Private Investments reports a second 50% payment to former WOF shareholders

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