TORONTO, April 1 /CNW/ - TriNorth Capital Inc. ("TriNorth") announced
that its board of directors is exploring several plans for dealing with
its shareholding in Feronia Inc. including the distribution of those
shares to Trinorth's shareholders on a tax-efficient basis.
TriNorth owns 17,000,000 common shares of Feronia Inc. (the "Feronia Shares") which
represent approximately 17% of the outstanding common shares
(approximately 11.8% after giving effect to the latest financing).
The Feronia Shares are subject to certain escrow and lock-up provisions
which restrict TriNorth's ability to sell them prior to March 31, 2013.
Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as "plans",
"proposes", "estimates", "intends", "expects", "believes", "may",
"will" and include without limitation, statements regarding the stated
use of proceeds; plan of operations and comparative advantages; and
benefits of this investment. There can be no assurance that such
statements will prove to be accurate; actual results and future events
could differ materially from such statements. Factors that could cause
actual results to differ materially include, among others, regulatory
risks, risks inherent in foreign operations, commodity prices,
competition, and investments having no history of operations. Most of
these factors are outside the control of the Company. Investors are
cautioned not to put undue reliance on forward-looking information.
Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intent or obligation to
update publicly forward-looking information, whether as a result of new
information, future events or otherwise.
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
SOURCE TriNorth Capital Inc.
For further information:
John Pennal, President, TriNorth Capital
Wes Hall, Chairman, TriNorth Capital