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VANCOUVER, British Columbia, Nov. 07, 2025 (GLOBE NEWSWIRE) — British Columbia Discovery Fund Inc., (formerly British Columbia Discovery Fund (VCC) Inc.) (the “Fund”), by MNP Ltd. (formerly The Bowra Group Inc.) in its capacity as liquidator of the Fund (the “Liquidator”), provides the following final update as to the liquidation proceedings of the Fund.
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Final Distribution
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The Fund is pleased to announce a Final Distribution (the “Final Distribution”) to the shareholders of the Fund on record as of November 7, 2025 of $0.11 per share.
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No action is required by shareholders to receive the distribution, which will be deposited into the accounts where shares are held. The effect of the distribution will be to reduce Pricing Net Asset Value to $nil.
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Upon payment of the Final Distribution, the liquidation of the Fund will be substantially complete.
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The Liquidator intends to dissolve the Fund immediately after payment of the Final Distribution and effect the cancelation of the shares of the Fund in 2025.
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However, the timing of the dissolution of the Fund and cancelation of the shares cannot be assured. See ‘Risk Factors and Forward-Looking Information’ below.
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The final payment and the winding up have been approved by an Order of the Supreme Court of British Columbia, granted on October 28, 2025. The Order approved the payment of a final distribution to shareholders and the wind up and dissolution of the Fund.
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In addition, the Order approved the activities of the Liquidator and all fees and expenses incurred in the liquidation including all professional fees incurred by the Liquidator and its legal counsel; and a release for Liquidator from any liability arising from its conduct as Liquidator.
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Updates and materials related to the Fund’s liquidation proceedings, including a copy of the Discharge Order, can be found on the Liquidator’s website at: https://mnpdebt.ca/en/corporate/corporate-engagements/british-columbia-discovery-fund-inc.
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The Liquidator will continue to make available on its website additional information and updates on the status of the Fund’s liquidation proceedings.
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Risk Factors and Forward-Looking Information
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The Fund cannot assure its shareholders of the timing or amount of the final liquidation distribution.
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If the Fund fails to retain sufficient funds to pay the expenses and liabilities actually owed to the Fund’s creditors, each shareholder receiving liquidation distributions could be held liable for payment to the Fund’s creditors, of his, her or its pro rata share of any shortfall, up to the amount actually distributed to each shareholder; if, at the time of a distribution to shareholders, the Fund cannot pass statutory solvency tests, the distribution may be prohibited; the tax treatment of liquidation distributions may vary from shareholder to shareholder, and shareholders should consult their own tax advisors; and the Class A Shares may, in certain circumstances, cease to be ‘‘qualified investments’’ for “registered plans” for the purposes of the Income Tax Act (Canada).
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