VANCOUVER, British Columbia, April 05, 2024 (GLOBE NEWSWIRE) -- (TSXV:PTF) Pender Growth Fund Inc. (the "Company") today announced its financial and operational results for the year ended December 31, 2023. Financial Highlights Net income was $1,029,528 for the year ended December 31, 2023 (December 31, 2022 – Net loss $127,838,962) primarily the result of positive investment performance during the year. Net income per Class C common share ("Share") for the year ended December 31, 2023 was $0.14 (December 31, 2022 – Net loss per share $16.85). The Company's total shareholders' equity decreased by $353,077 from December 31, 2022 ($70.2 million) to $69.9 million as at December 31, 2023, primarily due to share repurchases of $1,382,605 under the Company's Normal Course Issuer Bid ("NCIB"), offset by positive investment performance of $1,029,528 during the year. Shareholders' equity per Share was $9.48 as at December 31, 2023 (December 31, 2022 – $9.28). Shares outstanding were 7,368,229 as at December 31, 2023, a decrease from December 31, 2022 (7,569,929) as a result of share repurchases under the NCIB, which was renewed on February 15, 2024. At December 31, 2023, 77.1% of the investment portfolio was made up of public companies and 22.9% of private companies. Management Expense Ratio ("MER") before performance fees was 2.31% for the year ended December 31, 2023, up 0.41% compared to 1.90% in 2022.  PERFORMANCE (Based on Shareholders' Equity) 3 Month 1 Year 3 Year 5 Year Since Inception Class C 7.2