The Board of Directors of the Okanagan Innovation Fund (OIF) is pleased to advise shareholders that it has made three investments into private companies operating in the Southern Interior region.  Two of the three investments are into new companies for the fund bringing the total number of companies in the fund’s portfolio to 10.

Traction Technologies (http://tractiontech.ca) is an existing company within the OIF portfolio that has received a $150,000 loan from OIF.  Traction, based in Kamloops, is using the proceeds to help launch its Cinch Auto Tensioning Cargo Securement System in conjunction with its manufacturing and distribution partner Ancra International (www.ancra.com).  Traction, the winner of the 2005 Telus New Ventures Award, has just received additional recognition from by Heavy Duty Trucking and RoadStar magazine which was named the Cinch an MVP (Most Valuable Product).  The Cinch will be highlighted in their December issue which is delivered to over 120,000 truckers across North America. Existing investors in Traction Technologies are the Working Opportunity Fund and the Western Universities Technology Innovation Fund.

RFind Systems Inc. (http://www.rfind.com) is a Kelowna based company that delivers real time locating solutions (RTLS) to manufacturing and industrial warehousing using active RFID (radio frequency identification) technology.  OIF has invested $250,000 in RFind by way of a 4 year convertible loan to assist the company in marketing its patented architecture that promises to reduce the cost of installed systems by 50-90%.  RFind, the 2006 Telus New Ventures Award winner, has previously raised $1.1 million in equity financing including the Western Universities Technology Innovation Fund.  Sharon Barnes, CEO of RFind commented “We are pleased to have this local group (OIF) supporting us in achieving our successes.”

Aquassure Bath Products (www.aquassure.com), 3rd place finisher in the 2004 Telus New Ventures contest Aquassure Bath Products Inc., is a Kelowna based private company that makes universal design bathtubs for people of all abilities, including seniors, disabled people, and wheelchair users.  Aquassure has developed a unique, patented, sliding door that is fully accessible from wheelchairs, lifts and walkers.  Aquassure’s bath products address the growing problem of our aging population by allowing more seniors and those with limited mobility to bath in their own homes thus helping them to maintain their independence, health and dignity.  OIF has invested $250,000 in Aquassure by way of a 4 year convertible note.  Previous investors in Aquassure include the Western Universities Technology Innovation Fund. "Aquassure has gained access to expertise and resources through OIF that have enabled us to accelerate the growth and success of our company. Now we have the leverage to promote our accessible products more effectively and to streamline our Okanagan supply chain" noted CEO of Aquassure, Matthew Longman.

Bill Redmond, Chairman of the OIF Board of Directors noted, “We at the Okanagan Innovation Fund are pleased to provide funding for these entrepreneurial companies. We are impressed by the breath of unique and value-added products and services that these firms are bringing to the marketplace. These are the types of quality companies that will help to create employment opportunities, push our economy forward and offer our investors an attractive return on investment in the future.”

OIF Managing Director, John Drope stated “These three investments bring the total capital invested in private companies OIF to over $2.7 million.  In addition, OIF has just received a payout on one of its loans providing us with additional cash that will allow us to continue to look for the next local success story in the Southern Interior.”  

            For Information contact John Drope, Managing Director, OIF          250.762.6850

Or

            Tim Leggett, CEO, Traction Technologies-                                    250.372.7676

            Sharon Barnes, CEO RFind Systems Inc. -                                 250.862.3412

            Matthew Longman, CEO Aquassure Bath Products-                     250.862.8686