FREDERICTON, April 13, 2016 /CNW/ - Trius Investments Inc. ("Trius") (TSXV -TRU) today announced that it has closed the previously announced sale of its waste collection business to FERO Waste & Recycling Inc. effective March 31, 2016. Trius will realize after tax proceeds from the sale of approximately $3,771,000, and expects to realize a gain on the sale of approximately $2,964,000. Most of its employees were hired by FERO and, as expected, the transition to FERO Waste has been smooth and uneventful with no change in service levels.
Gordon Wheaton, CEO of Trius Investments Inc. comments, "We believe that this sale was timely, given the industry's changing market conditions in New Brunswick. I would like to thank our dedicated employees as well as our shareholders, many of whom have been long term investors. This sale places the Company in a strong cash position." Wheaton went on to say, "The board of directors are currently reviewing its plans for the future of Trius."
Neither 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.
SOURCE Trius Investments Inc.
For further information: Gordon Wheaton, CEO, Telephone: 506-459-2044, Email: email@example.com