TriNorth Prevails in Proxy Contest



    Resounding majority of shareholders support superior team

    TORONTO, June 22 /CNW/ - TriNorth Capital Inc. ("TriNorth") (TSX: TRT)
announced its board of directors received a resounding majority of shareholder
support at today's Annual Shareholder Meeting.
    On a motion to elect TriNorth's board of directors, the management slate
of nominees John Crow, Rene Bharti, Amar Bhalla, John Pennal and Ravi Sood
received 82 million votes versus 35 million votes for a dissident slate.
    TriNorth's Chairman John Crow said: "Shareholders have spoken clearly and
loudly in support of the team that is best positioned to maximize shareholder
value in their company. On behalf of TriNorth's board and management, I want
to thank shareholders for their support and confidence throughout this proxy
contest."

    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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TriNorth Capital Inc.

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