VANCOUVER, May 25, 2018 /CNW/ - (TSXV: PTF) Pender
Growth Fund Inc. (the "Pender") is pleased to announce that
its shareholders approved all matters put before them at the annual
general and special meeting held May 23,
2018 (the "Meeting"), including an ordinary
resolution authorizing Pender to cease to be classified as a
non-redeemable investment fund and to be reclassified as a public
company reporting issuer under applicable securities law (the
"Reclassification").
Pender currently anticipates that the Reclassification will
become effective in the fourth quarter of 2018 with its first
financial filing following the Reclassification being the audited
financial statements for the year-ended December 31, 2018.
Full details on the Reclassification and its impact on Pender,
including Pender's continuous disclosure obligations and investment
restrictions, are contained in the Information Circular mailed to
the shareholders of Pender in connection with the Meeting.
Pender does not anticipate that the Reclassification will have a
material impact on Pender's assets, liabilities, revenue,
profitability, cash flow or business plan.
About Pender
Pender is a closed-end investment fund
with a goal of growing the NAV on a per share basis over the
long-term. Pender will utilize its small capital base, closed-end
structure and long-term horizon to invest in unique situations;
primarily small cap, special situations, and illiquid public and
private companies.
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.
Cautionary Statements Regarding Forward Looking
Information
This press release includes certain
"forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of
applicable Canadian and United
States securities legislation including the United States
Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical fact, included herein, without
limitation, statements relating the future operating or financial
performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always,
identified by words such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible", and similar
expressions, or statements that events, conditions, or results
"will", "may", "could", or "should" occur or be achieved.
Forward-looking statements in this press release relate to, among
other things, the completion of the Reclassification and the impact
of the Reclassification on Pender's assets, liabilities, revenue,
profitability, cash flow or business plan. Actual future
results may differ materially. There can be no assurance that such
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Forward-looking statements reflect the beliefs,
opinions and projections on the date the statements are made and
are based upon a number of assumptions and estimates that, while
considered reasonable by Pender, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation, management's discretion to not
proceed with the Proposed Reclassification. Readers should not
place undue reliance on the forward-looking statements and
information contained in this news release concerning these times.
Except as required by law, Pender does not assume any obligation to
update the forward-looking statements of beliefs, opinions,
projections, or other factors, should they change, except as
required by law.
SOURCE PenderFund Capital Management Ltd.