News Release: Pender Small Cap Opportunities Fund acquires shares of Radiant Communications Corp.

PenderFund Capital Management Ltd., manager of the Pender Small Cap Opportunities Fund (the “Fund”) announces that it has acquired 490,623 common shares (the “Shares”) of Radiant Communications Corp. (the “Issuer”) at a price of $0.995 per Share.

The Fund acquired the Shares (the “Acquisition”) from The Perlus Microcap Fund LP (the “Vendor”) by way of a share purchase agreement dated April 25, 2013.

Before the Acquisition, Pender Growth Fund (VCC) Inc., an investment fund also managed by PenderFund Capital Management Ltd. (the “Manager”), held 2,650,000 common shares of the Issuer. As a result of the Acquisition, investment funds managed by the Manager now hold an aggregate of 3,140,623 common shares of the Issuer, or approximately 20.8% of the Issuer’s issued and outstanding common shares.

The common shares of the Issuer are listed on the TSX Venture Exchange and trade under the trading symbol “RCN”. The Fund acquired the Shares for investment purposes. Depending on market conditions, the Fund may in the future increase or decrease their investment in the Issuer.

An Early Warning Report respecting this acquisition has been filed on the System for Electronic Document Analysis and Review (“SEDAR”) under the Issuer’s profile and can be viewed at www.sedar.com.

For further information please contact:

Lucy Waters, (604) 688-1511, Toll Free: 1 866 377-4743

On behalf of:

PenderFund Capital Management Ltd., manager of the Pender Small Cap Opportunities Fund

“David Barr”,  Chief Investment Officer