Pender Growth Fund Announces Completion of Purchase of GreenSpace Brands Debt

Pender Growth Fund Inc. (TSXV: PTF) (“

Pender Growth Fund

” or the “

Company

”) announces today that it has received approval from the TSX Venture Exchange and closed the previously announced acquisition of approximately $1M in debt of GreenSpace Brands Inc. (TSXV: JTR) (“

GreenSpace

”).

See the Company’s October 5, 2021 press release at the following link for additional details regarding the transaction: https://www.globenewswire.com/news-release/2021/10/05/2308880/0/en/Pender-Growth-Fund-Announces-Purchase-of-GreenSpace-Brands-Debt.html

About Pender Growth Fund Inc.Pender Growth Fund Inc. is an investment company with the objective of achieving long-term capital appreciation for its investors. The company utilizes its small capital base and long-term horizon to invest in unique investments; primarily small cap, special situations, and illiquid public and private companies. The company trades on the TSX Venture Exchange under the symbol “PTF”.

Please visit www.pendergrowthfund.com.

For further information, please contact:Tony RautavaPenderFund Capital Management Ltd.[phone]Toll Free: (866) [e-mail]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains forward-looking statements (within the meaning of applicable securities laws). Forward-looking statements are identified by words such as “objective”, “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the Company’s current expectations, estimates, forecasts and projections. The forward-looking statements in this news release are based on certain assumptions; they are not guarantees and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including any changes in general economic conditions or conditions in the financial markets. There can be no assurance that forward-looking statements will prove to be as accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.