VentureLink Completes Fund Merger

TORONTO, Sept. 14 /CNW/ - VentureLink LP and VL Advisors are pleased to announce the amalgamations of the four VentureLink labour-sponsored investment funds into a new fund. Effective September 10, 2010, VentureLink Brighter Future Fund Inc., VentureLink Financial Services Innovation Fund Inc., VentureLink Diversified Income Fund Inc. and VentureLink Balanced Fund Inc. were amalgamated to form a new fund called VentureLink Innovation Fund Inc. (the "Amalgamated Fund") The amalgamation was approved by shareholders at meetings held on July 22, 2010. The Amalgamated Fund will be managed by VL Advisors Inc., the investment advisor to the predecessors to the Fund and a wholly owned subsidiary of VentureLink LP.

The amalgamation was recommended by the board of directors of each predecessor fund. The board of directors of each predecessor fund believed that the benefits that will result from the amalgamation are in the best interests of shareholders.

"This amalgamation will create increased scale for the fund, enhance liquidity to shareholders and provide more flexibility for the manager to add value to the venture portfolios," said Jim Whitaker, VentureLink LP Managing Partner.

Further details with respect to terms, conditions and benefits of the amalgamation are outlined in the materials that were provided or made available to shareholders in advance of the Annual and Special Meeting of the predecessor funds. Such materials are available by contacting the Amalgamated Fund's manager, VL Advisors Inc., at 1 Richmond Street West, Suite 801, Toronto, Ontario, M5H 3W4 or by telephoning the Manager at 416-681-6676 in Toronto or toll free at 1-800-253-1043. As well, copies of all meeting related materials are available free of charge on the Internet at www.sedar.com or at www.venturelinkfunds.com.

VentureLink LP also announced the assignment of its management contract with the Amalgamated Fund to its wholly-owned subsidiary, VL Advisors Inc. Since December 2005 VL Advisors Inc. has already acted and will continue to act as the Investment Advisor for the Amalgamated Fund. This assignment makes the provision of management and investment advisory services to the Amalgamated Fund more efficient in response to legislative changes.

VentureLink Innovation Fund Inc. gives investors access to a well-diversified portfolio of established companies operating in traditional industries such as financial, manufacturing and service industries as well as dynamic industries like information technology and alternative energy.

Additional information regarding predecessor funds, which had over $220 million in assets as of August 31, 2010, and the Amalgamated Fund can be found at www.venturelinkfunds.com.

For further information: John Varghese, Managing Partner, VL Advisors Inc., [phone] or 1-800-253-1043