VC Volatus Capital Corp

The Business, Engineering, Science & Technology Discoveries Fund Inc. (the
"Fund") (CSE:VC) announced that the transaction involving the Fund and Tier One
Capital Limited Partnership (the "Limited Partnership"), which was approved by
the shareholders of the Fund at a special meeting on March 28, 2014, is
effective today, July 11, 2014 (the "Effective Date"). 


The Limited Partnership has acquired substantially all of the assets of the Fund
in exchange for units of the Limited Partnership (the "Units"). The outstanding
Class A Shares and Class L Shares of the Fund have been automatically redeemed
for Units. 


Each Class A Shareholder and Class L Shareholder will receive an equivalent
value of Units in payment for the redemption price of the Class A Shares and
Class L Shares held by that shareholder on the Effective Date. The number of
Units that a Class A Shareholder or Class L Shareholder is entitled to receive
has been calculated as the number of Class A Shares or Class L Shares held
multiplied by the net asset value of the applicable series of shares on the
valuation date immediately prior to the Effective Date divided by the deemed
issue price per Unit of $14.00. Fractional Units will not be issued, and the
number of Units issued to a former shareholder of the Fund will be rounded down
to the next whole number of Units. The net asset value per share for each series
of outstanding Class A Shares and Class L Shares used in the exchange ratio
calculation were as follows: (i) $9.3384 Class A Shares, Series I; (ii) $9.2352
Class A Shares, Series II; (iii) $9.3009 Class A Shares, Series III; (iv)
$9.4066 Class A Shares, Series IV; and (v) $9.4804 Class L Shares, Series I.


The Units of the Limited Partnership are listed on the Canadian Securities
Exchange under the symbol "TLP".


About Tier One Capital Limited Partnership

Tier One Capital Limited Partnership is a limited partnership formed under the
laws of the Province of Ontario. The General Partner of the Limited Partnership
is T1 General Partner LP, a limited partnership formed under the laws of
Ontario. The Limited Partnership's investment objective will be to provide a
return on investment for Limited Partners and provide regular cash
distributions. The General Partner intends to make regular distributions, which
would be assessed on a quarterly basis, to the Limited Partners, having regard
to the income received or anticipated to be received from the portfolio
companies held by the Limited Partnership as well as the fees, expenses and
other obligations of the Limited Partnership.


About The Business, Engineering, Science & Technology Discoveries Fund Inc.

The Business, Engineering, Science & Technology Discoveries Fund Inc. was
established in 1996 and registered as a labour sponsored investment fund
corporation in Ontario. The Fund's investment focus is primarily on companies
capitalizing on the innovative uses of engineering, science and technology.


The Fund invested in eligible companies that are in differing stages of
development in a variety of high growth industries which may include
telecommunications, information technology, computers and life sciences.


Certain statements contained in this press release may include forward-looking
information with respect to the Fund's and Limited Partnership's operations and
future financial results. Such statements are based on current expectations, are
subject to a number of uncertainties and risks, and actual results may differ
materially from those contained in such statements. Further information can be
found in the disclosure documents filed by the Fund at www.sedar.com. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
The Business, Engineering, Science & Technology
Discoveries Fund Inc.
John Richardson
416-203-7331 ext 228 / 1-800-795-BEST
jrichardson@bestfunds.ca

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