FREDERICTON, New Brunswick, March 27, 2018 (GLOBE NEWSWIRE) -- Trius Investments Inc. (“Trius” or the “Company”) (TSXV:TRU) is pleased to announce that, subject to final approval by TSX Venture Exchange (the “TSXV”), it has completed its change of business (the “COB”) from an Industrial issuer to an Investment issuer.
“This represents a major milestone for Trius, and the accomplishment of a key objective in our strategic update provided in September 2017,” stated Joel Freudman, President and Chief Executive Officer of Trius. “While it took significantly longer than anticipated, completing the COB allows us to focus efforts on our asset sales while starting to evaluate new investments and business opportunities.”
Mr. Freudman continued, “I also want to sincerely thank our shareholders for their patience and support throughout this challenging process.”
The COB is described in the Company’s filing statement dated March 22, 2018, which has been filed to the Company’s SEDAR profile at www.sedar.com. The Company has adopted an investment policy dated effective January 1, 2017 to govern its investment activities, a copy of which is included in the filing statement. Trius’ common shares will continue to trade on the TSXV, and there have been no changes to the Company’s name, ticker symbol, or CUSIP number.
The Company received shareholder approval of the COB on March 26, 2018, by written consent of the holders of a majority of the Company’s outstanding common shares, excluding common shares beneficially owned by non-arm’s length parties to the COB.
Final approval of the COB is conditional upon, among other things, filing customary post-closing materials with the TSXV. Additionally, the TSXV has notified Trius that Trius has until June 18, 2018 to broaden its public distribution in order to satisfy TSXV Tier 2 continued listing requirements, or in the alternative (or failing which) the Company may transfer its listing to the NEX.
About Trius Investments Inc.
Trius owns interests in several real estate and healthcare investments in the United States. Trius’ common shares trade on the TSXV 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 TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Generally, forward-looking information can be identified by the use of words and phrases such as “plans”, “expects”, “continues”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken or occur. Forward-looking information in this press release includes, without limitation, statements regarding TSXV final approval of the COB, and Trius’ future plans. This forward-looking information consists of disclosure regarding possible events, conditions or results and is based on numerous assumptions that management believes to be reasonable in the circumstances, including that TSXV final approval will be obtained and that Trius will meet TSXV distribution requirements.
The forward-looking information in this press release is subject to a number of risks and uncertainties that may cause Trius’ actual results or performance to differ materially from those expressed or implied by such forward-looking information, including but not limited to regulatory approval and review processes, and those risks described in the Company’s continuous disclosure documents. There can be no assurances that the forward-looking information herein will prove to be accurate, as actual results and future events may differ materially from those anticipated by such information. Accordingly, investors should not place undue reliance on such forward-looking information. Trius does not undertake to update any forward-looking information in this press release, except as required by applicable securities laws.