Today's News

Vancouver, BC, March 4, 2022--(T-Net)--Pender Growth Fund Inc. announced that it has been included in the 2022 TSX Venture 50. The ranking is made up of top performing companies across five sectors, with PTF placing in the diversified industries sector based on three equally weighted criteria assessed during 2021: Share price, trading volume and market capitalization.

This is the second time the Company has been included in the TSX Venture 50.

TSX Venture 50 - Pender Growth Fund Inc. Profile Video:

https://vimeo.com/marketonemediagroup/review/673313190/be8ca619f0

David Barr, CEO and PORTFOLIO MANAGER, PenderFund Capital Management

David Barr, CEO of PTF said, "It is an honour to be included in the TSX Venture 50. We are also investors in TSX Venture listed companies and several of our holdings have been recognized with this same award over the years. It is because of the continued 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."

The company reported in its release that 2021 was an exciting year for the companies within their PTF portfolio. Three private holdings went public: Tantalus Systems Holdings Inc. (TSX: GRID), BuildDirect.com Technologies Inc. (TSXV: BILD), and Copperleaf Technologies Inc. (TSX: CPLF) which achieved unicorn status with its IPO at over a $1 billion valuation.

The Company also noted private technology companies from its portfolio closed on successful M&A transactions, which included: One45 Software Inc. (Altus Assessments Inc.), Redlen Technologies Inc. (Canon Inc.), and Teradici Corp. (HP Inc.).

During the past year, the Company also completed the acquisition of the majority of the shares of Working Opportunity Fund (EVCC) Ltd., a BC-based venture capital fund that was subsequently renamed Pender Private Investments Inc.

The Company saw share price appreciation in 2021 from $4.35 on December 31, 2020 to $18.00 a year later. Reporting Net Asset Value per share1 of the Company increased through the year as a result of its portfolio's performance, from $6.07 on December 31, 2020 to $24.62 a year later.

For the full TSX Venture 50 ranking, methodology and video profiles of the TSX Venture 50 companies visit: tsx.com/venture50.

About Pender Growth Fund Inc.

Pender Growth Fund Inc is an investment firm. Its investment objective is to achieve long-term capital growth. The Company utilizes its small capital base and long-term horizon to invest in unique situations, primarily small cap, special situations, and illiquid public and private companies. The firm invests in public and private companies based primarily in Canada and the U.S., principally in the technology sector. It trades on the TSX Venture Exchange under the symbol "PTF" and posts its Reporting NAV on its website, generally within five business days of each month end.

Please visit www.pendergrowthfund.com.