TORONTO, Aug. 13 /CNW/ - The Board of Directors of TriNorth Capital Inc.
("TriNorth" or the "Company") (TSX-V: TRT) announced today that it had
received a resignation notice from Board and Audit Committee member Rene
Bharti. Mr. Bharti resigned from the Board due to other professional
commitments. The Board thanked Mr. Bharti for the contribution he has made to
TriNorth as a Board member over the past two years.
The Board also announced the appointment of Victor A. Wells to the
TriNorth Board of Directors and the TriNorth Audit Committee. Mr. Wells is an
experienced Corporate Director and was Chief Financial Officer of Titanium
Corporation Inc., a TSX-listed mineral company, from October 2007 to June
2009. Mr. Wells is also a director and chair of the Audit Committee of
MagIndustries and Northstar Healthcare Inc., and is a director and member of
the Audit Committee of Student Transportation of America Ltd. Previously, he
was a trustee and Chair of the Audit Committee of Canada Cartage Diversified
Income Fund. From June 2001 to April 2006, Mr. Wells was Vice President
Finance and Chief Financial Officer of Chemtrade Logistics Income Fund. From
May 1998 to June 2001 he was Vice President Finance and Chief Financial
Officer of Tahera Diamond Corporation. Mr. Wells is currently a Director and
Chairman of the Committee on Corporate Reporting of Financial Executives
International and is a past Chapter President and Director. He was a member of
the Accounting Standards Board from 1991 to 1995. Mr. Wells obtained his
Chartered Accountant designation with Ernst & Young LLP in Toronto and was
elected a Fellow of the Institute of Chartered Accountants of British Columbia
in 1990 and the Institute of Chartered Accountants of Ontario in 2006. Mr.
Wells obtained his Institute of Corporate Directors designation in 2007.
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, email@example.com,