News Releases Date: December 28th, 2009 Re: OCF Annual General Meeting Kelowna, B.C. - Notice of Meeting for the 2008/9 operational year has been mailed to shareholders of record as at December 15, 2009, such meeting to be held at 3:00 pm on Friday, January 15, 2010 at Pushor Mitchell LLP law office in Kelowna. In order to comply with the Small Business Venture Capital Act (B.C.) requirements, the Fund must provide continuous investment in qualified eligible small businesses for a minimum five-year period in an amount equal to a minimum of 80% of the total equity capital raised under the Program. At the end of such period, the Fund has the option at the direction of shareholders to seek liquidation of investments, and/or approve the proportional distribution of proceeds or securities to shareholders. The Fund is currently in negotiation for the sale of securities of Always On UPS, an investee, with a five-year anniversary date which matured September 2009. The five-year anniversary date for the Fund’s investment in Itiva Digital Media does not mature until mid 2010. Shareholders are reminded that if they hold shares in a brokerage account and want to receive meeting materials directly from the Company, they should provide contact information with the Fund's office c/o 4006 Gallagher's Green, Kelowna, B.C., Canada. V1W 3Z8 attention: Robert Linttell, President (rob-robertgroup@shaw.ca) The B.C. Ministry of Small Business and Economic Development, or Investment Capital Branch has not reviewed and does not accept responsibility for the accuracy or adequacy of this press release. Date: June 15, 2009 Re: OCF Annual General Meeting
Kelowna, B.C. - Notice of Meeting for the 2007/8 operational year has been mailed to shareholders of record as at June 02, 2009, such meeting to be held at 3:00 pm on Tuesday June 30, 2009 at Pushor Mitchell LLP law office in Kelowna. In order to comply with the Small Business Venture Capital Act (B.C.) requirements, the Fund must provide continuous investment in qualified eligible small businesses for a minimum five-year period in an amount equal to a minimum of 80% of the total equity capital raised under the Program. At the end of such period, the Fund has the option at the direction of shareholders to seek liquidation of investments, and/or approve the proportional distribution of proceeds or securities to shareholders. The Fund has commenced discussion for the sale of securities of Always On UPS, an investee, with a five year anniversary date of September 2009. Shareholders are reminded that if they hold shares in a brokerage account and want to receive meeting materials directly from the Company, they should provide contact information to the Fund's office c/o 4006 Gallagher's Green, Kelowna, B.C., Canada. V1W 3Z8. The B.C. Ministry of Small Business and Economic Development, or Investment Capital Branch has not reviewed and does not accept responsibility for the accuracy or adequacy of this press release. Date: November 30, 2007 Re: OCF Annual General Meeting
Kelowna, B.C. – Following mailing of Notice of Meeting in early November, Okanagan Capital Fund held their Annual General Meeting for the period ending June 30, 2007 at Pushor Mitchell LLP law office in Kelowna at 3.00 pm November 23, 2007. Following approval of previous years minutes of meeting and audited financial statements prepared by Grant Thornton auditors, former Board members Robert Linttell, Frank Estergaard, Tim Fernback and Vern Nielson were again elected as directors and Grant Thornton appointed auditors. The meeting provided for the last step ratification of previously authorized replacement Articles approved by shareholders at last years annual general meeting and approval of current year director acts and compensation. The President reported the Fund has continued to monitor companies engaged in the Venture Capital program and has maintained regular association with the department providing administration. The Fund remains compliant with 80% of funds originally raised invested in two separate eligible small businesses, both of which are performing to Board satisfaction. There has been no change in Fund policy limiting investment to existing investee companies and operating at minimum cost. Other than legal and annual audit costs, the Fund operates from a no cost office with no wages or fees paid to date for management services. Provision is made, however, to pay accrued management service fees following liquidation event and/or fund expiration. In order to comply with the Small Business Venture Capital Act (B.C.) requirements, the Fund must provide continuous investment in qualified eligible small businesses for a minimum five-year period in an amount equal to a minimum of 80% of the total equity capital raised under the Program. At the end of such period, the Fund has the option at the direction of shareholders to seek liquidation of investments, and/or approve the proportional distribution of proceeds or securities to shareholders. At this time, the Fund awaits market response to ITIVA, who have developed a patent pending low cost, high-definition video streaming mechanism that has attracted industry attention. For further update on their advancement refer to: http://www.itiva.com or the Fund website at: www.okanagancapitalfund.com Shareholders are reminded that if they hold shares in a brokerage account and want to receive meeting materials directly from the Company, they should provide contact information to Pushor Mitchell or the Fund’s office c/o 4006 Gallagher’s Green, Kelowna, B.C., Canada. V1W 3Z8. The B.C. Ministry of Small Business and Economic Development, or Investment Capital Branch has not reviewed and does not accept responsibility for the accuracy or adequacy of this press release.
Date: December 07, 2006 Re: OCF Investee Reports Major Progress
Kelowna, B.C. – Members of the Okanagan Capital Fund (OCF) Board have received report from their investee, Crossflux Inc. of Kelowna, the completion of a company reorganization and positive further development of their award winning Quantum Mesh technology, originally created by Mr. Tom Taylor of Kelowna. Following a merger of Crossflux with Itiva Media Corporation (IMC) January 27, 2006, IMC changed its name effective March 31, 2006 to QM Technologies Inc. (QMT) a Nevada registered company. Upon the merger, former shareholders of Crossflux including OCF collectively held 56% or 24,633,309 common shares of QMT and proportional ownership of shares in a sister Nevada company, Itiva Digital Media Corp. (IDM) commonly refered to as “Itiva”. These transactions provide Itiva engagement opportunities in commercialization of a specific application of the technology. “Itiva” has recently opened an office in Palo Alto, California under the direction of President Michel Billard, an entrepreneurial director with more than 15 years of experience in managing R&D, manufacturing and business development. Prior to joining Itiva, Michel served as Director of Strategic Initiatives for Hewlett Packard-Digital Entertainment Services where he was responsible for identifying technologies for accelerating HP’s market presence. Assisting Mr. Billard, is Kelowna based Dr. Robert Arn, Chief Technology Officer, who received a Master of Science Degree from Oxford University as a Rhodes Scholar and received his Ph.D. from Cambridge University as a Rockefeller Scholar who assisted in the refinement and application of the original technology. Itiva’s primary focus is to commercialize a Content Delivery Network (CDN) that enables high quality video streaming or download to large audiences. Itiva is nowworking with major content owners and aggregators to deliver and monetize Internet video that is TV, DVD or even HD quality. The unique feature of the Itiva technology is the larger the audience, the greater the efficiency thereby providing industry unique commercialization alternatives. For further information on Itiva and to receive updates on future development, refer to: http://www.itiva.com/. “We trust our early stage investment through the Venture Capital Corporation (VCC) program will help in the full commercial potential and in turn deliver solid return to investors and generate further economic advantage for the Okanagan” said Robert Linttell, President of OCF. The Fund is scheduled to hold their annual general meeting in Kelowna January 03, 2007. For further information on the Fund, refer to: http://www.okanagancapitalfund.com/. The B.C. Ministry of Small Business and Economic Development, or Investment Capital Branch has not reviewed and does not accept responsibility for the accuracy or adequacy of this press release. Date: December 05, 2005 Re: Fund to Hold AGM
Kelowna, B.C. – The Okanagan Capital Fund (VCC) Inc. has mailed Notice of Meeting and audited financial statements to shareholders to attend the Annual General Meeting, January 03, 2007 at 2.00 pm to be held at the Pushor Mitchel law office building, 4th floor, 1665 Ellis Street, Kelowna, B.C. For further information on the Fund's management, community advisory board, or investment refer to www.OkanaganCapitalFund.com or telephone 250-869-0552. The B.C. Ministry of Small Business and Economic Development, or Investment Capital Branch has not reviewed and does not accept responsibility for the accuracy or adequacy of this press release. Date: April 05, 2005 Date: December 03, 2004 Re: 2004 Last Remaining Tax Credit Kelowna, B.C. – December 03, 2004 – Under the Provinces Venture Capital Corporation (VCC) program, the Okanagan Capital Fund (VCC) Inc. has been authorized to raise $500,000, which we expect will be the last time individuals or corporations will have opportunity to invest in the Fund and receive a 30% tax credit for the 2004 tax year. To date the Fund has raised in excess of $1.7
million and has invested in two emerging and expanding businesses
in Kelowna. The Fund has invested $125,000 in Always On UPS
Systems Inc., a growing local manufacturing firm, and $1.2 million
in Crossflux, Inc., who have developed proprietary software,
called Quantum Mesh™ which provides for improved performance in
the secure transmission of digital entertainment products for the
internet without incurring Subject to the success of the current financing, the Fund will invest a further $400,000 into Crossflux to assist with the company’s current licensing and commercialization process. Crossflux has been recently nominated for the “Most Promising Emerging Technology Company of the Year” for the 2004 Okanagan Science and Technology Council (OSTEC) awards program. For further information on the Fund's management,
community advisory board, or information on the current offering
to accredited investors which is RRSP eligible, refer to
www.OkanaganCapitalFund.com or telephone 250-869-0552. The B.C. Ministry of Competition, Science and
Enterprise, or Branch Administration has not reviewed and does not
accept responsibility for the accuracy or adequacy of this press
release.
Date:
October 14, 2004 Re:Crossflux Inc. Breaks On-line Entertainment Barriers With New Internet Technology Company signs agreement for new round of financing with Okanagan Capital Fund to accelerate market entry Kelowna, BC – October 14, 2004 – Crossflux Inc., developer of software to enable mass-market digital entertainment products, today signed a Memorandum of Understanding with Okanagan Capital Fund for a new investment to finance the market entry of its Quantum Mesh™ technology. Over the last six months, Crossflux has completed successfully the engineering proof of concept of the new technology. The Company plans live field tests of the technology by year end and market introduction of a commercial product by the end of the first quarter of the new year. The primary market in which the company participates is the broadband-delivered video, music and games entertainment market which is projected by Juniper Research to rise from US$ 800 million today to US$10.7 billion by 2008. Within that market, the company estimates that its niche market will rise to approximately US$1 billion in the same time period. The Company’s secondary market in distribution of corporate rich media, training and education is projected to follow a similar growth path. The market for on-line distribution of entertainment will be determined by the growth of new, network-attached digital entertainment devices. According to Parks Associates, the number of such devices in North American homes is projected to grow to 303 Million by 2008. “The future of digital entertainment is all on-line,” said Dr. Robert Arn, President of Crossflux, “but until now there was no way to deliver massive film and gaming files to millions of consumers. What works in small scale networks, decreases in performance and increases in cost with attempts to expand to mass internet markets. Crossflux’s Quantum Mesh™ technology turns the internet upside down, providing increasing performance as the scale grows without a parallel increase in cost. The result is a cost-effective and secure foundation for mass markets such as on-line film and game distribution, and a substantial lowering of the barriers to new entrants in narrower specialty entertainment markets.” “Okanagan Capital Fund’s initial investment in Crossflux was based on a proven team that combined experience in internet and digital entertainment markets with an ability to generate shareholder value,” said Robert Linttell, President of Okanagan Capital Fund. “We are delighted to see that the Company has been able to accelerate its development plan to attack the on-line distribution of digital entertainment almost a year earlier than we had anticipated. We are happy to be able to continue to serve the Company’s capital requirements as they move towards market introduction.” Tom Taylor, Crossflux Founder and Chief Technology Officer, is an experienced serial entrepreneur, who is widely known for his previous venture Workfire Networks which was acquired by Packeteer (NASDAQ: PKTR) in a $100 Million transaction. He commented, “On the surface, Quantum Mesh™ technology seems almost magical – increased performance, massive scale and low infrastructure cost seem contradictory. However, from the perspective of advanced mathematics, very small and very large systems sometimes exhibit surprising characteristics. The breakthrough that we have recently achieved is in building proprietary software that can bring those effects from the realm of theory into practical systems that can work within the bounds of the current internet without requiring changes to communications or security protocols.” About Okanagan Capital Fund Okanagan Capital Fund (VCC) Inc. is a venture capital fund based in Kelowna, BC Canada. It is focused on identifying investment opportunities in the rapidly developing Okanagan Valley region of British Columbia. It invests directly and collaborates with other Canadian and US venture capital funds. All BC residents and corporations are eligible to invest in the Okanagan Capital Fund and will receive a 30% tax credit as well as sharing in the return earned by the Fund’s investments. About Crossflux For more information please contact: Crossflux Inc. Okanagan Capital Fund
Date: March 18, 2004 Re: Crossflux Inc. Closes $1.2 Million Financing New
Investor Okanagan Capital Fund Joins Previous Investors to Support
Marketing Of Proprietary
Software Components That Enhance Digital Entertainment Products Kelowna,
BC – March 17, 2004
– Crossflux Inc., developer of software components for digital
entertainment products, has secured $1.2 million
in new financing. “Not
too long ago, the key components of consumer electronics products
were widgets, electro-mechanical nuts and bolts,” said Robert
Arn, President of Crossflux. “The digital entertainment revolution is shifting the focus
to smart software components.
For our large manufacturing customers, the recognition that
our proprietary software components reduce engineering cost and
time to market, while increasing product performance and feature
differentiation, all with no added hardware cost, adds up to a
strategic competitive advantage.
Their enthusiasm is pushing us to full-scale marketing
faster than we anticipated, so this partnership with Okanagan
Capital is timely and welcome to finance our expanded marketing as
well as ongoing development.” “Okanagan
Capital is always searching for innovative companies that have a
solid product strategy and a keen understanding of market needs”
said Robert Linttell, President of Okanagan Capital. “This is a
proven team that has built a compelling and unique solution
applicable to the digital entertainment industry. We are looking
forward to working with Crossflux and its experienced management
team that brings a rare combination of experience in internet and
entertainment markets to the table, along with a proven ability to
generate shareholder value.” Tom
Taylor, Crossflux Founder and CTO, is an experienced serial
entrepreneur, who is widely known for his previous venture
Workfire Networks which was acquired by Packeteer (NASDAQ: PKTR)
in a $100 Million transaction.
He commented, “The excitement and challenge in computing
is now all in digital entertainment. The
sheer size of entertainment data, up to a million times larger
than office documents, is transforming the foundations of
computing. It’s a clean sheet and we are filling in some of the spaces
with proprietary Crossflux software components.” Robert
Arn, President of Crossflux, is a seasoned entrepreneur and
technical marketing executive. He
has twice completed the cycle of founding a startup to IPO and
growth to $120 million in sales in satellite television with
Meridian Technologies, and XML data networks with InContext
Systems acquired by Pervasive Software (NASDAQ: PVSW). Ray
Moschuk, Vice-president of Okanagan Capital, will join
Crossflux’s Board of Directors and will assist with future
financing of the Company’s development. Moschuk
was formerly Managing Director with TELUS Ventures and brings over
24 years of business development and professional project
management experience to the Board. He added, “We are excited by
the potential of Crossflux’s software approach in the massive
and cost-sensitive consumer electronics sector that is being swept
by the digital entertainment transformation.” This
announcement was well received by Leading Edge BC, an independent
society under the B.C. Societies Act, which supports the growth
and development of British Columbia's technology industries.
“The entrance of Crossflux into the digital entertainment
market, following on the heels of the team’s Workfire success
which was the largest early-stage technology acquisition in BC
history, emphasizes both the Okanagan as a technology growth
cluster and the emergence of British Columbia as a world center
for entertainment technologies and production,” said George
Hunter, president, Leading Edge BC. About
Crossflux Crossflux
Inc. is a developer and supplier of proprietary software
components to manufacturers of digital entertainment products,
content and services. The company’s software components enable
manufacturers to create products, semi-conductors and networks in
digital video, music, video games, photography, and graphics
markets that deliver advanced features, raw performance and
content security—all without increased hardware costs. About
Okanagan Capital
Okanagan
Capital Fund (VCC) Inc. is a venture capital fund based in
Kelowna, BC Canada. It is focused on identifying investment
opportunities in the rapidly developing Okanagan Valley region of
British Columbia. It
invests directly and collaborates with other Canadian and US
venture capital funds. All
BC residents and corporations are eligible to invest in the
Okanagan Capital Fund and will receive a 30% tax credit as well as
sharing in the return earned by the Fund’s investments.
The
B.C. Ministry of Competition, Science and Enterprise, or Branch
Administration has not reviewed
and does not accept responsibility for the accuracy or
adequacy of this press release. Date:
January 22, 2004 Re: Okanagan Capital Fund to invest in CROSSFLUX INC. Kelowna, B.C. – Robert Arn, President, Crossflux Inc. of Kelowna, BC and Robert Linttell, President of the Okanangan Capital Fund (VCC) Inc. are pleased to announce the signing of a Memorandum of Agreement to proceed with an equity financing and investment up to $1.05 Million to assist in the expansion of Crossflux, a Kelowna company that develops, brands and markets proprietary embedded software engines that enhance digital entertainment performance. Investment will be made subject to standard due diligence with details to be contained in a formal agreement to follow. Crossflux engines offer strategic competitive advantages to manufacturers of digital entertainment products in the form of increased product performance, no added hardware cost, reduced engineering cost, faster time-to-market and product differentiation. The Founder and CTO of Crossflux is Tom Taylor, an experienced serial entrepreneur, who is widely known for his previous venture Workfire which was acquired by Packeteer (NASDAQ: PKTR) in a $100 million transaction. Robert Arn, President, is a seasoned entrepreneur and technical marketing executive, has twice completed startup to initial public market staged developments. Such experience included growth to $120 million in sales in satellite television with Meridian Technologies and XML data networks with InContext Systems acquired by Pervasive Software (NASDAQ: PVSW). All BC residents and corporations are eligible to invest in the Okanangan Capital Fund (VCC) Inc. and will receive a 30% tax credit plus share in the anticipated return earned by the Fund’s investment in “eligible small businesses”. An investment into the Okanagan Capital Fund, through the current Offering Memorandum, is RRSP eligible and can result in additional tax savings if purchased by March 1, 2004. The 30% Provincial tax credit is available for the first 60 days of 2004 to coincide with the RRSP season. On request, Fund management is available to conduct individual or group presentations on OCF operations, potential benefits to eligible small businesses and investment opportunity for individuals or corporations. Crossflux management is available to make presentations regarding their technology, market size, business model and investment potential. For further information on the Fund's management, community advisory board, or a copy of the current Offering Memorandum, refer to www.OkanaganCapitalFund.com or telephone 250-762-4123. Alternatively, contact the Fund’s agent, Wolverton Securities Ltd., Kelowna (Mr. Kevin Letun) at 250-979-7488 or Vancouver office, at 604-662-1000. The B.C. Ministry of Competition, Science and Enterprise, or Branch Administration has not reviewed and does not accept responsibility for the accuracy or adequacy of this press release. Date
Issued: December 04, 2003 Re: Board re-elected -AGM endorses expansion Kelowna, B.C. At the annual general meeting held November 28, 2003 shareholders unanimously re-elected the Fund’s officers and directors: Robert Linttell, Director and President; Frank Estergaard, Director and Secretary; Tim Fernback, Director; Ray Moschuk, Director and VP Business Development. Shareholders ratified the Fund’s first investment of $125,000 into Always “On” UPS Systems Inc. of Kelowna, a qualified designer and manufacturer of quality electrical power protection equipment. Shareholders were provided an update on the Fund’s current interest in prospective candidate eligible small businesses (ESB’s) and an expansion proposal for the Okanagan Capital Fund to become the premiere venture capital corporation to fund B.C. “heartland” companies. To meet anticipated funding needs, the Fund will seek to increase its current Provincial allotment of $5.0 million to $15.0 million. Plans also include incorporation of various strategic partnerships with business operators and institutions that would see increased investment into the Fund and other ESBs being funded. Individuals or business that invest in the Fund will be supporting Okanagan’s future growth. Investment can be made through the Fund’s current Offering Memorandum, which is RRSP eligible. In addition to receiving a 30% tax credit pursuant to the Small Business Venture Capital Act, investors will proportionally share in proceeds earned from Fund investment. The Fund is unable to guarantee any return to investors and investors should seek the investment advice of professionals to determine if an investment in the Fund is suitable for their investment needs. On request, Fund
management is available to conduct individual or group
presentations on operations, potential benefits to ESB’s and how
individuals or corporations can invest. The B.C. Ministry of Competition, Science and Enterprise, or Branch Administration has not reviewed and does not accept responsibility for the accuracy or adequacy of this press release.
Date Issued: November 27, 2003 Date
Issued: September 19, 2003 First, the Fund has signed a letter of intent to acquire 10% of Always On UPS Systems Inc. of Kelowna, B.C. who are engaged in the design, manufacture and supply of uninterrupted power supply (UPS) systems and power conditioning products. The UPS systems provide temporary back-up power for all microprocessor based equipment and various other electronic devices in the event of a disruption in the regular power supply service, plus, their power conditioning devices provide noise protection for all micro-processor based equipment. Incorporated in November 1996 the company is engaged in the delivery of products to both the Canadian and USA markets with revenues doubling annually over the past two years and continuing to grow rapidly with revenues forecast to quadruple over the next two years. The Fund has signed a second letter of intent to acquire up to 20% of eMedRx Inc. of Vancouver, B.C. Incorporated January 2003, eMedRx is a subsidiary of Security Biometrics Inc. (OTC:BB SBTI and Berlin Exchange SBB.BE) that holds exclusive license agreement for North America for the patented Penflow, a signature authentication technology. eMedRx has the exclusive sub-license to the Penflow technology for the North American electronic medical prescription sector. eMedRx is currently conducting a final development test in British Columbia for a proprietary drug and prescription management solution which will enable physicians, using Windows® and Palm® enabled devices, to immediately print clear and legible prescriptions for patients, access a computerized list of brand name and generic drugs, look up standardized dosages and quantities for all drugs, and send the electronic prescription by a fully authenticated and secure signature and encryption protocol to the pharmacy for filling. At the same time, patient history update and a master record file can be provided. Under the terms of the financing, Okanagan Capital Fund (VCC) Inc. funding will be staged and provided on a best efforts basis. eMedRx will relocate its head office operations to Kelowna, B.C. The Fund, through mutual agreement with ITIVA Inc. of Kelowna, B.C., will not proceed with investment in ITIVA pursuant to news release made March 07, 2003. The Okanagan Capital Fund (VCC) Inc. is the first diversified Venture Capital Corporation to be created in the Okanagan Thompson area to foster economic diversification and help generate new and better paying jobs in the area. Individuals or corporations can invest through the Fund’s current Offering Memorandum. In addition to receiving a 30% tax credit pursuant to the Small Business Venture Capital Act, investors will proportionally share in proceeds earned from investment in eligible small businesses that receive equity from the Fund. The Fund is unable to guarantee any return to investors and investors should seek the investment advice of professionals to determine if an investment in the Fund is suitable for their investment needs. For further information on the Fund's Community Advisory Board, management of the Fund, or a copy of the Funds current Offering Memorandum, refer to www.OkanaganCapitalFund.com or telephone 250-762-4123. Alternatively, contact Wolverton Securities Ltd., Kelowna, B.C., (Mr. Kevin Letun) at 250-979-7488 or 250-212-5873 or their Vancouver, B.C. office at 604-662-5213. The B.C. Ministry of Competition, Science and Enterprise, or Branch Administration has not reviewed and does not accept responsibility for the accuracy or adequacy of this press release. For further information please refer to: Always On UPS Kelowna, B.C. - http://www.alwaysonups.com/ eMedRX Vancouver, B.C. - http://www.emedrx.net/about.html Date
Issued: March 07, 2003 Kelowna, B.C. - Robert Linttell, President of the Okanagan Capital Fund (VCC) Inc. on behalf of the Board of Directors, is pleased to announce the Fund has signed a letter of intent, subject to legal review, to invest up to (Cdn) $500,000 in iTIVA Inc., a technology Corporation located in Kelowna, B.C. Investment consists of the purchase of Convertible Series A Preferred Stock issued by the company at (US) .50¢ per share, or approximately 5% of the fully diluted issued shares of iTIVA. Investment is subject to iTIVA being approved as an Eligible Small Business under the BC Small Business Venture Capital Act and regulations, regulatory compliance, and independent due diligence to be conducted by Wolverton Securities Ltd., the Fund's agent and the approval of the Fund's Board of Directors. iTIVA is a "media application server" through it’s unique software technology that will enable companies and organizations to deliver over the Internet a seemingly limitless library of interactive entertainment and information sources to both the home or business. iTIVA is led by Mr. Tom Taylor of Kelowna, B.C., founder of Workfire Networks,which was acquired by Packeteer (NASDAQ: PKTR) in a transaction valued at $100 million in Sept.2000. Packeteer currently occupies the sixth floor of the Landmark Technology Center in Kelowna and over the last calendar year has showed significant growth despite the decline in the technology market. In addition to his Workfire Networks success, Mr. Taylor has uniquely relevant leadership and technical experience in ventures involving digital sound, advanced video entertainment, and broadband telecommunications. The Fund is the first diversified Venture Capital Corporation to be created in the Okanagan Thompson area to foster economic diversification and help generate new and better paying jobs in the area. Individuals or corporations can invest through the Funds current Offering Memorandum. In addition to
receiving a 30% tax credit pursuant to the Small Business
Venture Capital Act, investors will proportionally share in proceeds earned from investment in eligible small businesses
that receive equity from the Fund. The Fund is unable to guarantee any return to investors and investors should seek the
investment advice of professionals to determine if an For further information on the Fund's Community Advisory Board, management of the Fund, or a copy of the Funds current Offering Memorandum, refer to www.OkanaganCapitalFund.com or telephone 250-762-4123. Alternatively, contact Wolverton Securities Ltd., Vancouver , B.C. at 604-662-5213, or Kelowna, B.C. (Mr. Kevin Letun) at 250-764-1401. The B.C. Ministry of
Competition, Science and Enterprise, or Branch Administration has
not reviewed and does not accept responsibility for the accuracy or adequacy of this press release. Date
Issued: January 14, 2003 Kelowna, B.C. - On behalf of the Board of Directors of the Okanagan Capital Fund (VCC) Inc., Robert Linttell, President, reports that B.C. Corporations filing year end tax reports can qualify for a 30% Provincial Tax credit through fund investment. The fund will also issue the same 30% Provincial Tax credit to individuals directly or to their RRSP account. All investors are to further benefit from investments made by the Fund in qualified eligible small businesses to be selected by Fund management, assistance from the Fund's Community Advisory Board and independent due diligence review. The mandate of the Okanagan Capital Fund is to work with economic development offices, political and business leaders to foster economic diversity, strengthen the success potential of operating expanding companies and assist communities develop new and better paying jobs throughout the B.C. interior. Investment can only be made through the Fund's Offering Memorandum dated September 03, 2002 copies of which can be obtained at www.OkanaganCapitalFund.com or Fund's office at telephone: 250-762-4123. Alternatively, investment can be made through any
licensed securities broker or Wolverton Securities Ltd., Vancouver
at 604-662-5213; or Kelowna
Date
Issued: September 20, 2002 Re:
Fund Launched - Investment Now Started Mayor Walter Grey of Kelowna and Mr. Todd Tessier, Portfolio Manager from the Ministry of Competition, Science and Enterprise were guest speakers at the formal launch of the fund at the Grand Hotel, Kelowna on September 18th. Mr. Pearse Walsh, Chairman of Economic Development Commission was master of ceremony. According to a Ministry report, this is the first Venture Capital Corporation (“VCC”) fund for the Okanagan Valley. Under the direction of four Corporate directors and the due diligence advisory service of Wolverton Securities Ltd. of Vancouver, the fund will immediately commence review of applications from high growth companies that promote community diversification and show promise of future return and liquidity to investors. Eligible Small Businesses (ESB’s) must employ 75 or fewer people; pay at least 75% of business’ wages and salaries to employees who live in B.C. (50% businesses engaged in export activities). Resource exploration or extraction, financial services, property management or development of traditional agricultural activities do not qualify for funding. The fund also seeks the participation of community residents throughout the Okanagan and invites registration to the fund’s Community Advisory Board. Those experienced in business, or who have business qualification, are invited to register by completing a registration form found at www.OkanaganCapitalFund.com and submit their resume or summary of qualification and experience. Subscription is through an Offering Memorandum dated September 3, 2002, which may be obtained directly from the fund or lead selling agent Wolverton Securities Ltd., Kelowna (Tel: 250-212-5873) or Vancouver (Tel: 604-622-1000). For further information, please contact: |
