FREDERICTON, New Brunswick, April 24, 2018 (GLOBE NEWSWIRE) -- Trius Investments Inc. (“Trius” or the “Company”) (TSXV:TRU) is pleased to announce the following changes to its board of directors (the “Board”).
Yousuf Soliman has been appointed to the Board as an independent director. Mr. Soliman is a financial analyst at Smoothwater Capital Corporation (“Smoothwater”), one of Canada’s leading activist investors. Mr. Soliman joined Smoothwater after its founding in May 2013 and has been involved in all of its activist and proxy campaigns. Prior to joining Smoothwater, Mr. Soliman worked for a Toronto-based investment bank participating in over 20 transactions in the equity and debt capital markets. Mr. Soliman is experienced in building financial valuations and other metrics for the assessment of prospective investments.
R. Gordon Wheaton has retired as Chairman of the Board and as a director of Trius to focus on other business interests. In his place, Damian Lopez has been appointed Chairman of the Board.
Mr. Wheaton originally guided a predecessor of Trius to complete its initial public offering in 1998, raising $200,000. Under Mr. Wheaton’s leadership, since then Trius has executed numerous successful acquisitions and dispositions and returned approximately $6,500,000 in cash to shareholders. Mr. Wheaton, who is well-known and respected in Fredericton’s business community, will remain a consultant to the Company to provide strategic corporate and leadership advice, and he is currently Trius’ second largest shareholder.
Joel Freudman, President and Chief Executive Officer of Trius, commented on the Board changes: “Gordon has been instrumental to Trius’ success for more than 20 years, and we wish him the best with his other endeavours. The Board will benefit greatly from his continued strategic insights in his new role, and from the direction of Damian as our new Chairman. We also welcome Yousuf to the Board and are certain his investment banking background will be invaluable as we consider our next steps.”
About Trius Investments Inc.
Trius owns interests in several real estate and healthcare investments in the United States. Trius’ common shares trade on the TSX Venture Exchange under the symbol “TRU”.
For further information, please contact:
Joel Freudman
President and Chief Executive Officer
Trius Investments Inc.
Telephone: (647) 880-6414
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains certain forward-looking statements, including those regarding the Company’s personnel and future plans. These statements are based on numerous assumptions believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties described in the Company’s most recent management discussion and analysis. Actual results may differ materially from results contemplated by the forward-looking statements. When considering forward-looking statements, investors and others should also carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements made by itself or on its behalf, except as required by applicable law.