TORONTO, March 26, 2012 /CNW/ - TriNorth Capital Inc. ("TriNorth") is pleased to announce that all shares of Feronia Inc. ("Feronia") owned by it have now been released from the escrow and lock-up provisions which previously restricted the sale or transfer of the shares.
TriNorth owns approximately 16,000,000 common shares of Feronia and, subject to obtaining the approval of shareholders at the annual general and special meeting of shareholders called for May 14, 2012, will distribute all, or substantially all, such shares to TriNorth shareholders of record on the Feronia distribution date of May 11, 2012.
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.
Neither the 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.
For further information:
John Pennal, President, TriNorth Capital