Silver North Resources Ltd. press release
Trius Investments Inc. - New Director, Reorganization, Private Placement, Name Change
TSXV - TSX Venture Exchange · Silver · Gold · Lead · Zinc · Copper · Canada
FREDERICTON, Sept. 28 /CNW/ - Trius Investments Inc. ("Trius") is pleased to announce a comprehensive reorganization of the Company. It is the intention of the Board of Directors that Trius will reorganize its business to emphasize the development and funding of clean energy initiatives. Certain elements of the reorganization are subject to shareholder and regulatory approval. A general and special meeting of shareholders will be called to approve certain elements of the reorganization.
As part of this reorganization Trius announces that
Ross J. Beatty has joined the Board of Directors of Trius effective September 26, 2005.
The name of Trius Investments Inc. will be changed to Trius Energy Capital Corp.
Trius Leasing Inc., a wholly owned subsidiary of Trius Investments Inc., will be acquired from Trius Investments Inc. by its controlling shareholder Gordon Wheaton in exchange for two million shares of Trius owned by Gordon Wheaton and the estate of Reginald Wheaton.
A private placement to insiders of the Corporation at $.06 per unit of 3,000,000 units consisting of one common share and one share purchase warrant expiring two years from the date of issue and exercisable at $0.12 per share will be completed.
Trius will form a new subsidiary, Trius Asset Management Corp. ("TAMC"), which will apply for appropriate financial services approvals in the Province of Ontario. Ross J. Beatty will be appointed the President and C.E.O. of TAMC. Trius Asset Management Corp. will launch and manage clean energy funds under such possible brands as Trius Clean Energy Fund, Trius New Technology Energy Fund, Trius Clean Air Fund and Trius Waste Management Fund.
Ross J. Beatty has a successful background of over 30 years in the investment business. He will concentrate on building the Trius brand of funds in the alternative energy sector as well as investing in clean energy projects directly. To be based in Ontario, "TAMC" will deliver enhanced shareholder value through its abilities to invest astutely in energy projects, to manage them prudently and to deliver consistent cash flow and attractive returns for its investors. A graduate of St Michael's College, University of Toronto, Ross Beatty has spent over 30 years in banking and the public markets, holding a variety of roles such as officer, director and owner of Canadian investment brokerage firms. As sole owner of the Investment Dealers Association investment firm R.J. Beatty Financial Corp., Mr. Beatty has initiated or participated in hundreds of IPOs. Ross Beatty has held managerial and directorship positions with a number of international investment houses, financial services and management consulting companies, where he has served as Senior Partner of Business Development -- responsible for joint ventures/strategic alliances and guided venture capital investments in new media, natural resources and energy, food sciences and information technologies. He was Director of the Investment Sales team at Midland Walwyn, Canada's largest financial services investment firm. He also taught as a Continuing Education Professor of Investment Finance at Seneca College, in Toronto, Ontario. Mr. Beatty's many civic achievements have earned him the respected "Citizen of the Year" award, as well as a federal citation from Prime Minister Chretien and the High Commissioner of the Bahamas to Canada, His Excellency Luther Smith. In his role as senior executive of Trius Asset Management Corp., Mr. Beatty helps identify the most sought after talent for their portfolio companies. He acts as a "venture catalyst" creating the structure of organizations, building high-calibre leadership teams and providing Trius Asset Management Corp.'s partner companies with ongoing counsel as their business ventures grow. Renewable energy, wind energy specifically, is the country's fastest growing energy source, as fossil fuels for power generation become more expensive and as resistance to polluting emissions intensifies. Wind is abundant, inexhaustible, non-pollutant and widely distributed. Natural Resources Canada estimates that Canada has almost 30,000 MW of developable wind resources, enough to supply 15% of Canada's energy supply. The Federal Government has pledged to source 20% of its energy from renewable resources. Provinces across Canada are now selecting projects for new wind capacity. In 2004 more than 1,400 MW of capacity was awarded for long-term power purchase agreements by provincially owned utilities. Since the fuel is free, with further economies of scale and technology innovations, wind power is becoming less expensive than developing new hydro, nuclear and fossil fuel plants. Trius Investments Inc. is listed on the TSX Venture Exchange under the symbol "TRU". Trius has two businesses, residential waste management collection and automobile and truck leasing both of which are carried on in the Province of New Brunswick.
This press release may contain forward-looking statements including management's assessment of future plans. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include uncertainties resulting from potential delays or changes in plans with respect to projects or capital expenditures.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein. %SEDAR: 00009507E