Canada’s First Charitable IPO -- Girls’ Growth Fund set to raise $1 million
Girls’ Growth Fund guarantees return on investment, releases 10,000 shares at $100 per share
TORONTO, October 22, 2008 – Canada’s first ever charitable IPO (Immediate Public Opportunity), the Girls’ Growth Fund, opened the TSX today on its drive to raise $1,000,000 for girls across Canada. Issued by the Canadian Women’s Foundation, Canada’s only national public foundation dedicated to improving the lives of women and girls,the Girls’ Growth Fund is offering shares to investors at $100 each. Shares can be purchased at www.girlsgrowthfund.ca.
The Girls’ Growth Fund was created to raise $1,000,000 for girls’ initiatives across Canada. “Our research shows that the best social return on investment is working with girls aged nine to 13,” said Margot Franssen, Co-chair of the Canadian Women’s Foundation. “Capital raised from the Girls’ Growth Fund IPO will empower thousands of young girls across Canada as they take part in programs that build self-esteem, leadership, and critical thinking skills through science, technology, physical activity, community action, media and financial literacy.”
“The Girls’ Growth Fund is poised to become a market leader,” said Dr. Sherry Cooper, Chief Economist, BMO Financial Group, and an early investor in the Fund. “And despite an unpredictable market environment, this IPO is a guaranteed investment with virtually unlimited returns.”
“The Girls’ Growth Fund is the best stock tip on the market today,” said noted philanthropist Doris Buffett, another early investor in the Fund, and sister of billionaire Warren Buffett.
Lead investors in the Fund include, Dr. Sherry Cooper, Purdy Crawford, Linda Hohol, Carolyn Richardson Hursh, the Honourable Margaret Norrie McCain and Wallace McCain, Meg Nicholson Shaw and Jim Shaw, and Doris Buffett. Corporate underwriters include BMO Financial Group, CIBC, Canadian Business Magazine, Osler, Hoskin & Harcourt LLP, and Today’s Parent Magazine. Corporate supporters include CN, RBC Foundation and Scotiabank Group.
A limited number of shares in the Girls’ Growth Fund were pre-purchased by more than 100 luminary investors across North America including Margaret Atwood, Gloria Steinem, Stephen Lewis, Jane Fonda, Heather Reisman, Jan Wong and Pamela Wallin.
At the closing of the Offering, CWF will hold 100% ownership of the Fund and proceeds will be used to support programs for girls, aged nine to 13, across Canada. Full charitable tax receipts will be provided to all investors as will a souvenir share certificate. The Fund is expected to close December 31, 2008.
The Girls’ Growth Fund IPO is a charitable initiative of the Canadian Women’s Foundation. Share purchasers will receive a charitable tax receipt equivalent to the value of stock share purchase in lieu of any tangible assets of the Canadian Women’s Foundation. Shareholders will not actually own shares or securities in the Canadian Women’s Foundation, the Girls’ Growth Fund or any affiliated entity. Shares in the Girls’ Growth Fund will never lose their value and dividends are compounded and paid out in daily installments of self-esteem and empowerment for girls across Canada.
About the Canadian Women’s Foundation
The Canadian Women’s Foundation (CWF) is Canada’s only national public foundation dedicated to improving the lives of women and girls. CWF researches, shares and funds the most promising approaches to ending violence against women, moving low-income women out of poverty, and building strong, resilient girls. Learn more at www.canadianwomen.org.
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To schedule an interview or for more information, please contact:
Sarah Ruddle, Director of Marketing and Communications, Canadian Women’s Foundation Tel: 416 365-1444 ext. 232 sruddle@canadianwomen.org
