TriNorth Capital Inc. Seeks Shareholder Approval for Share Consolidation

    TORONTO, May 21 /CNW/ - TriNorth Capital Inc. ("TriNorth" or the
"Company") (TSX: TRT) announces that at an annual and special meeting of
shareholders of the Company to be held on June 22, 2009 (the "Meeting"),
shareholders will be asked to consider and approve a special resolution to
consolidate all of the Company's issued and outstanding common shares on the
basis of one (1) post-consolidation common share for every ten (10)
pre-consolidation common shares.
    TriNorth currently has 150,747,317 common shares outstanding and the
consolidation of 10 to 1 will reduce the common shares outstanding to
approximately 15,074,731. Any fractional shares of the Company arising from
the share consolidation will be rounded down to the nearest whole share of the
    The Board and management of TriNorth believe it is in the best interests
of shareholders to complete the share consolidation to provide the Company
with increased flexibility to seek additional financing opportunities and to
pursue strategic transactions because it may improve the market's perception
of the Company. Further details regarding the background, reasons and impact
of the proposed share consolidation are described in the Company's management
information circular, a copy of which is available at The
information circular also describes particulars of the other matters to be
voted upon at the meeting and the manner in which shareholders may vote on
such matters.
    The special resolution relating to the proposed share consolidation
requires the approval of not less than 66 2/3% of the votes cast by
shareholders represented at the Meeting in person or by proxy. The proposed
share consolidation also requires the approval of the TSX Venture Exchange as
it is anticipated that TriNorth's previously disclosed change of its listing
from the Toronto Stock Exchange to the TSX Venture Exchange will occur prior
to the Meeting. Neither the Company's name nor stock symbol will change as a
result of the change in listing.

    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: (416) 362-6283, Catherine Stretch, Lawrence
Asset Management Inc., Toronto, Canada,,

Organization Profile

TriNorth Capital Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890