TORONTO, June 11 /CNW/ - TriNorth Capital Inc. ("TriNorth") (TSX: TRT)
shareholders are asking important questions about the motivations of dissident
Tony Busseri ("Busseri") and his campaign of misrepresentations against
Shareholders are asking:
1. Why is dissident Busseri launching a $450,000 proxy fight when he
only holds $7,000 in TriNorth stock?
2. Why is dissident Busseri claiming that he will maintain Lawrence
Asset Management Inc. as the Manager when he and members of his team
have approached representatives of TriNorth on several occasions to
take over management of the Company?
3. Why is dissident Busseri claiming in press releases that he has never
launched a campaign against a board when, in fact, dissident Busseri
led a campaign four months ago against Augen Gold Corp., where he
replaced board members and immediately issued stock options to
4. How did dissident Busseri claim on the first day of his campaign that
he had "expressions of support from other investors holding a
significant portion of the Company's shares" when soliciting proxies
before filing his circular would be illegal?
TriNorth shareholders are asking these important questions, but dissident
Busseri isn't providing answers.
We are confident that TriNorth shareholders will see through the
deception and support the incumbent board and management.
In addition, TriNorth announces that it has filed on SEDAR disclosure on
the normal course audit fees paid to its auditors Ernst & Young LLP. It has
also provided additional disclosure on the financial literacy and
qualifications of its audit committee members, as well as a copy of its audit
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).
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: Investor or Media Contact: Janet Craig,
Kingsdale Communications Inc., (416) 669-6792,