April 20, 2014 9:01 PM ET

Capital Markets

Company Overview of GrowthWorks Ltd.

Company Overview

GrowthWorks Ltd. is a venture capital firm specializing in early stage and mezzanine investments. It seeks to invest in small and medium-sized businesses. The firm seeks to invest in pharmaceuticals, medical devices, information technology, software, communications and networking, hardware, electronic devices, Internet-related, alternative energy, advanced materials, alternate energy, environmental technologies, life sciences, and clean technology. The firm primarily invests in companies based in Canada with a focus on Atlantic Canada, Ontario, and Manitoba. It generally invests between $.1 million and $5 million in the portfolio companies. The firm prefers to take a board seat in the portfo...

1801 Hollis Street

Suite 310

Halifax, NS B3J 3N4

Canada

Founded in 1998

Phone:

902-492-5164

Fax:

902-421-1808

Key Executives for GrowthWorks Ltd.

President
Chief Financial Officer
Chief Operating Officer
President and Chief Executive Officer of GrowthWorks Atlantic Ltd.
Chief Strategy Officer
Compensation as of Fiscal Year 2013.

GrowthWorks Ltd. Key Developments

Growth Works Capital Obtains Final Tranche of $5 Million Secured Debt

Further to its announcement October 1, 2013, Matrix Asset Management Inc. announced that its subsidiary, Growth Works Capital Ltd., has closed its final tranche of $1 million relating to its $5 million ('Debt') with an independent Canadian lender ('Lender'). The first debt tranche of $4 million was advanced to GWC on October 1, 2013. The debt shall be repaid over 60 months from the date of the advance of each tranche. The debt bears an interest rate of 12% annually, payable quarterly. An annual processing fee of 6.5% of the principal amount of the debt will also be payable quarterly. An initial structuring fee of 3.5% of the principal of the debt advanced is also payable to the lender. The lender will also receive approximately 7.5% of incentive payment amounts earned by GWC and related registrants from the venture capital funds they manage during the time of the debt and three years thereafter. Any remaining portion of the debt may be prepaid after 40% of debt has been repaid. The debt is secured by the assets of GWC and guaranteed by the assets of Matrix and certain of its non-registrant subsidiaries and Chief Executive Officer. The final tranche will be held in escrow for GWC's benefit to be released when certain documentation and other conditions of escrow have been satisfied or earlier upon the lender's approval.

Matrix Asset Management Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2012

Matrix Asset Management Inc. reported unaudited earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported total revenue of $5.931 million compared to $7.306 million a year ago. Loss before taxes was $0.581 million compared to $1.693 million a year ago. Net income was $393,000 or $0.01 per diluted share compared to $62,000 a year ago. EBITDA was $790,000 compared to LBITDA of $386,000 a year ago. Recurring EBITDA was $790,000 compared to $1.143 million a year ago. Free cash flow was $876,000 compared to negative free cash flow of $685,000 a year ago. For nine months, the company reported total revenue of $19.275 million compared to $24.043 million a year ago. Loss before taxes was $2.723 million compared to $6.652 million a year ago. Net loss was $1.673 million or $0.03 per diluted share compared to $1.120 million or $0.03 per diluted share a year ago. EBITDA was $934,000 compared to LBITDA of $2.762 million a year ago. Recurring EBITDA was $1.309 million compared to $4.010 million a year ago. Free cash flow was $444,000 compared to negative free cash flow of $3.185 million a year ago.

Matrix Asset Management Inc. to Report Q3, 2012 Results on Nov 13, 2012

Matrix Asset Management Inc. announced that they will report Q3, 2012 results at 9:40 PM, GMT Standard Time on Nov 13, 2012

Recent Private Companies Transactions

Type
Date
Target
Private Placement
January 15, 2014
Smart Skin Technologies Inc.
Private Placement
January 14, 2014
ResponseTek Networks Corp.
Merger/Acquisition
December 12, 2013
Strutta Media, Inc.
 

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