TriNorth dissidents attack former Governor of the Bank of Canada



    TORONTO, June 8 /CNW/ - TriNorth Capital Inc. ("TriNorth") (TSX: TRT)
today refuted the attacks against its Board Chair, John Crow, made by Mr. Tony
Busseri ("Busseri"), which called into question Mr. Crow's skills and
integrity but did not provide evidence.
    Busseri, in a press release dated June 5, 2009, stated his intention "...
to seek an independent experienced third party to act as chairman of the
Annual Meeting." Busseri is attempting to oust John Crow as chairman of
TriNorth's upcoming Annual and Special Meeting by calling into question Mr.
Crow's skills and credibility, yet Busseri provides no evidence to back up his
claims.

    
    The facts are:
    -  John Crow has been duly elected to TriNorth's Board and serves as an
       independent member and its chair
    -  Mr. Crow has more than 30 years of experience serving on 12 public
       boards
    -  Mr. Crow has a well-earned international reputation owing to his vast
       professional and corporate director experience, including:
         -  Chair of the Board of the Bank of Canada
         -  Chair of the G-10 Central Bank Governors
         -  Chair of an International Monetary Fund committee of
            international experts commissioned to evaluate IMF bilateral,
            regional, and multilateral surveillance activities
         -  Chair of an International Federation of Accountants task force
            commissioned to examine the loss of credibility in financial
            reporting and how to restore it.
    

    Busseri's attacks against John Crow are without merit and demonstrate a
complete disregard for Mr. Crow's vast experience, his international
reputation and his untarnished ethical standards.

    Important shareholder voting instructions

    It is vital you fully understand what may happen to your investment if
the Dissidents seize control of your Company. For this reason, the board urges
you to carefully read the management information circular and execute the BLUE
proxy by voting as recommended by the board of TriNorth. Voting is a very
quick and easy process that empowers you to state your position and protect
your investment, but you must act and vote your BLUE proxy to ensure your
position is recognized. Please disregard any proxy you may have received from
the Dissidents and ONLY vote the BLUE proxy.
    We believe that the depth of experience and strategic vision of the
TriNorth nominees are essential to the Company's success and makes us best
suited to lead your Company.
    If you have any questions regarding voting your BLUE proxy, please
contact Kingsdale Shareholder Services Inc., at 1-800-775-4067 (toll free) or
416-867-2272 (outside of North America).

    About TriNorth

    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.

    Cautionary Notes

    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.

    %SEDAR: 00003606E




For further information:

For further information: Investor or Media Contact: Janet Craig,
Kingsdale Communications Inc., (416) 669-6792,
jac@kingsdalecommunications.com

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