VANCOUVER, Feb. 23, 2017 /CNW/ - (TSXV: PTF) Pender
Growth Fund Inc. (the "Fund") is pleased to announce that it has
been selected for inclusion in the 2017 TSX Venture 50, a ranking
of top performers on TSX Venture Exchange over the past year.
The TSX Venture 50 ranking is comprised of the top 10 companies
out of 1,643 issuers listed on the TSX Venture Exchange from each
of the following five industry sectors: Clean Technology & Life
Sciences, Diversified Industries, Mining, Oil & Gas and
Technology. The ranking is determined by an equally weighted
formula based on one-year share price appreciation, trading volume
and market capitalization growth. The Fund was ranked sixth overall
in the Diversified Industries sector.
The Fund had an exciting year in 2016. Two of the publically
held investments, IWG Technologies Inc. and QHR Technologies
entered into agreements to be acquired, which helped drive the
performance of the Fund. As the Net Asset Value (the "NAV") of the
Fund increased through the year as a result of its portfolio's
performance, the market responded in kind as the market price
tracked the NAV, while still trading at a discount.
David Barr, President of
PenderFund Capital Management Ltd. and Portfolio Manager of the
Fund commented,"it is an honour to be part of the TSX Venture 50.
We are very active participants investing in TSX and TSX Venture
listed companies and several of our holdings have been recognized
over the years. It is because of the success of these companies
that we have been recognized today so I would like to thank the
management teams of our portfolio companies for helping us get
here."
For the full TSX Venture 50 ranking, methodology and video
profiles of the TSX Venture 50 companies visit:
www.tsxventure50.com.
About the Fund
The Fund is a closed-end investment
fund with a goal of growing the Net Asset Value of the Fund on a
per share basis over the long-term. The Fund 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.
SOURCE Pender Growth Fund (VCC) Inc.