TORONTO, June 5 /CNW/ - TriNorth Capital Inc. (TSX: TRT.TO) is pleased to
announce it has made an investment in Wild Horse Group as part of a
$7.5 million private placement. TriNorth invested $2,002,500 in Wild Horse
Group at $0.75 per share for 2,670,000 shares. It is anticipated that Wild
Horse Group will go public before the end of 2008.
Wild Horse Group is consolidating farmland and intends to be one of
Canada's largest owners and operators of irrigated farmland in Saskatchewan.
The Company's principal business activities focus on acquiring land rights
through leases or earn-in agreements to irrigated and dry (with the intention
to irrigate) arable farmland in the Lake Diefenbaker area and participation in
crop production. Saskatchewan is a globally important source of high yielding
farmland, with the province representing approximately 50% of Canada's total
production of wheat and canola.
"With pressure on available agricultural resources growing globally,
TriNorth is currently evaluating several early stage investments to
consolidate crop production in Canada and other countries," said Ravi Sood,
President of Lawrence Asset Management Inc, the Manager of TriNorth. "We
expect that rising agricultural commodity prices will create positive return
opportunities for producers who are able to consolidate resources and increase
Although farmland prices have been appreciating year-over-year,
Saskatchewan still lags the US, Alberta and British Columbia on price per
acre, creating an opportunity for the pricing gap to close as Saskatchewan
land values appreciate faster than for their neighbours.
TriNorth is a Canadian-based investment company that invests in a
diversified portfolio of companies to generate long-term capital growth for
shareholders. TriNorth takes an active interest in its investee companies from
the earliest stages, providing strategic and financial counsel, support and
direction to assist in their growth and success. TriNorth's investment
strategy includes structuring and initiating deals focused on particular
resources, themes or regions as well as launching the development of
businesses in select industries by providing assistance with the hiring of
management teams, providing seed capital and facilitating IPOs. All investment
activities of TriNorth are managed by Lawrence Asset Management Inc, a leading
Canadian alternative investment asset manager.
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.
For further information:
For further information: (416) 362-6283, Catherine Stretch, Lawrence
Asset Management Inc., Toronto, Canada, firstname.lastname@example.org,