RE: Aberdeen''s investment portfolio?
I republish NR of Trinorth:
They are kind of underwater with this one. I also don't understand it competely. 140M$ tax losses? So any gains they make they can deduct because of losses - untaxable?
If you go to Trinorth they did a spinoff around november - as far as I see, the old Trinorth shareholders were dumped in the other company and Trinorth was fully diluted into the hands of the new financial backers. The financing was at .20 they are at .16 now. Might be an interesting buy :).
And yes, CSM: that's $.15x7 is $1.05 now. Well, they are back up 30% then :)
Aberdeen International Partners With Lawrence Asset Management Inc on Trinorth Capital Inc.
Thursday September 13, 11:15 am ET
TORONTO, ONTARIO--(Marketwire - Sept. 13, 2007) - ABERDEEN INTERNATIONAL INC. ("Aberdeen" or the "Company") (TSX VENTURE:
AAB -
News)
is pleased to announce that it is partnering with Lawrence Asset
Management Inc. ("Lawrence") to invest in Trinorth Capital Inc.
TRINORTH
will hold a concentrated portfolio of Canadian public companies, near
public companies, global venture capital initiatives and physical
commodities. Many of these opportunities will be initiated and actively
managed by Aberdeen and Lawrence.
By partnering up with Aberdeen,
Lawrence has access to a strong technical and operational team headed
up by Stan Bharti, P.Eng. Mr. Bharti is President & CEO of Forbes
& Manhattan, Inc., and Executive Chairman of Aberdeen International.
"It's
an ideal opportunity for Aberdeen," said Stan Bharti, "Lawrence sees
tremendous early stage deal flow, both public and private. Trinorth
with over $140 million in tax losses, is an ideal public vehicle for
these investments. Aberdeen can co-invest with Lawrence and provide
technical and management support to build these assets."
George
Faught, President and CEO of Aberdeen says "we welcome the opportunity
to form a strategic alliance with Lawrence and have a long history of
working directly with them in sourcing and developing deals. We feel
this is an excellent vehicle to help expand Aberdeen's global
investment strategy".
Ravi Sood, President and COO of Lawrence
Asset Management says," Our relationship with Aberdeen and Forbes and
Manhattan has proven to be very successful and this investment and
partnership with Aberdeen will further enhance our strategy in sourcing
quality investment opportunities globally in the resource sector."
Aberdeen
has acquired 3,750,000 Special Warrants in TRINORTH CAPITAL INC
("TRINORTH"). Each Special Warrant priced at $0.20 each, will entitle
the holder to receive one unit of the Corporation. Each Unit will
consist of one common share of the corporation and one common share
purchase warrant. Each Warrant will entitle the holder to purchase one
Common Share at a price of $0.24 for 3 years. Aberdeen will have the
right to appoint one representative to the TRINORTH board. Mr. Bharti
has also indirectly purchased an additional 1,250,000 special warrants.