Company News

Covington Capital Corporation Announces Proposed Acquisition of VenGrowth Investment Funds and New Generation Biotech (Equity) Fund Inc. by Covington Fund II Inc.

October 12, 2010

Covington Capital Corporation (“Covington”) announced today that Covington Fund II Inc. has entered into a Definitive Purchase Agreement with VenGrowth Investment Fund Inc., The VenGrowth II Investment Fund Inc., The VenGrowth III Investment Fund Inc, The VenGrowth Advanced Life Sciences Fund Inc., and The VenGrowth Traditional Industries Fund Inc. (collectively the “VenGrowth Funds”) and the New Generation Biotech (Equity) Fund Inc. (“NGBE”), whereby Covington Fund II Inc.

Covington Acquisition of VenGrowth and New Generation Biotech (Equity) Funds Successfully Closes

September 6, 2011

Covington Capital Corporation and the VenGrowth Funds today announced the successful closing of the transaction by which Covington Fund II Inc. acquired the assets of New Generation Biotech (Equity) Fund Inc. (“NGBE) and The VenGrowth Investment Fund Inc., The VenGrowth II Investment Fund Inc., The VenGrowth III Investment Fund Inc., The VenGrowth Advanced Life Sciences Fund Inc., and The VenGrowth Traditional Industries Fund Inc. (collectively the “Funds”).

Covington Portfolio Holding Acquired

December 15, 2008

Covington Group of Funds (“Covington”) is pleased to announce that Davis + Henderson Income Fund’s (TSX: DHF.UN) Filogix Segment. (“Filogix”) has entered into a definitive agreement to acquire Covington portfolio holding Cyence International Inc. (“Cyence”/ the “Company”). The acquisition is expected to close at the end of December 2008; subject to the satisfaction of closing conditions. This acquisition also represents the second successful Covington portfolio exit in 2008.

Covington Capital Corporation Announces $5 Million Toward The VenGrowth Transaction

November 19, 2010

Covington Capital Corporation (“Covington”) announced today that it has agreed to pay $5 million toward termination costs associated with the acquisition of the five VenGrowth Funds.

In addition to Covington’s $5 million, it will still honour the lower management fee structure that it negotiated with the Board of Directors of the VenGrowth Funds and outlined in the Information Circular.

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