Trius Investments Inc. Announces Sale of Long-term Investments
FREDERICTON, Aug. 15, 2014 /CNW/ - Trius Investments Inc. ("Trius Investments", the "Company") (TSX-V: TRU) announces that its member interest in Recovery Ways, LLC; Recovery Ways Mountainview, LLC and Recovery Ways Copper Hills, LLC (collectively, the "RW Entities") has been sold. The RW Entities were sold to a private equity firm (the "Buyer") specializing in health care services and senior living investments. Trius Investments received a distribution of $1,181,782 (US Funds) before taxes. This distribution represents 80% of the Company's pro-rata share of the price being paid by the Buyer for the assets of the RW Entities. The remaining 20% will be held in escrow for a period of 12 months and will be released with the satisfactory completion of certain targets outlined in the Asset Purchase Agreement. The Company is reviewing its options with respect to the sale proceeds.
Trius Investments will continue to hold its real estate interests in MV Property, LLC; RL Property One, LLC and RW Austin Property, LLC.
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.
About Trius Investments Inc.
Trius Investments Inc. is an investment holding company. The Company controls and operates Trius Disposal Systems Ltd., an innovative commercial/residential waste disposal company. The Company has investments in real estate in the United States through its other wholly owned subsidiary, TRU Investments, LLC. In addition, the company has an investment in a commercial building framing company located in Alberta, Canada.
Statements in this press release may contain forward-looking information, including regarding the release of the remaining distribution proceeds from escrow upon satisfaction of the targets outlined in the Asset Purchase Agreement, the use of proceeds from the disposition of the RW Entities and plans for the Company's other real-estate holdings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. These risks include, but are not limited to, the risks associated with disagreements regarding the satisfaction of the outlined targets, the timing of the release of distribution proceeds from escrow, the Company's plans with respect to its other real-estate holdings, and unexpected increases to the value of the assets post-closing. The reader is cautioned not to place undue reliance on this forward-looking information. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company has no obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
SOURCE Trius Investments Inc.For further information: R. Gordon Wheaton, President and CEO, Trius Investments Inc., Phone: (506) 459-2044, email@example.com