GrowthWorks Canadian Fund Ltd. and First Ontario Labour Sponsored Investment Fund Ltd. have successfully completed the previously announced merge of the funds.

The merger was completed through an asset purchase transaction whereby GrowthWorks Canadian Fund acquired the net assets of First Ontario Fund and shareholders of First Ontario Fund became shareholders of GrowthWorks Canadian Fund.

The assets acquired from First Ontario Fund had a net asset value of $34.6 million, increasing the total net asset value of GrowthWorks Canadian Fund to approximately $382 million.

A total of approximately 3.46 million Class A shares of GrowthWorks Canadian Fund were issued under the merger.