Northern Ontario Angels rank no. 1 in Canada

NEWS RELEASE

NORTHERN ONTARIO ANGELS

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THUNDER BAY - Northern Ontario Angels (NOA); a not for profit corporation that facilitates business deals between entrepreneurs and accredited angel investors, ranks first in Canada for the number of investments closed in 2015, it announced today.

With 139 total deals completed, NOA has now achieved $50 million in investment capital flowed to Northern entrepreneurs.

The National Angel Capital Organization’s (NACO) 2015 Report on Angel Investing Activity in Canada looked at 32 angel investment organizations across the country and reveals that angels in Northern Ontario contributed more investment capital into regional entrepreneurs and businesses than any other similar network in Canada.

“$50 million signifies an enormous amount of investment capital flowed into our Northern Ontario economy by private investors;" says NOA Executive Director, Mary Long-Irwin.

"NOA is proud to be the number one angel network in Canada but most importantly, we are proud of the increasing economic capacity, opportunities and impact that angel investing is bringing to the region. Today, investments are being made in diverse sectors from technology and manufacturing to real estate and entertainment. Almost all of the $50 million comes from local investors, directed to local entrepreneurs, to build local businesses across the North."

Also reported today were some of the results generated by $50 million in investment capital.

Key socio-economic impacts are:

• 139 investment deals closed totaling $50 million

• 1,324 full time equivalent positions created

• 378 full time equivalent positions maintained

• A total of $91 million in management and staff salaries generated.

Northern Ontario Angels is supported by various community partners across Northern Ontario and is funded with support from FedNor.

"We encourage innovators, entrepreneurs and high-growth businesses to get in touch with our organization. For those seeking additional capital or business mentorship to take their business to the next level, we have a network of angels ready to help," says Long-Irwin.

About Northern Ontario Angels

Northern Ontario Angels covers north of Barrie to the Manitoba border. This area is approximately 802,378 square miles and covers five larger centres as well as a number of smaller communities, including 120 First Nations communities.

We have recently implemented a chapter structure that provides for five chapters in our area, one in each of the five larger centres in the north: North Bay, Sault Ste. Marie, Sudbury, Timmins and Thunder Bay.

Our goal is to have a part-time person on the ground in each of these communities to work with our investor members and companies seeking investment.

Our strongest successes are the investors that support and believe in our communities by investing or mentoring new and growing businesses. For more information please visit: www.northernontarioangels.ca.

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