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1BestPickson Oct 01, 2010 9:06pm
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News Out Today
News Out TodayTriNorth Capital terminates Navina management contract
2010-10-01 18:25 ET - News Release
Mr. John Pennal reports
TRINORTH CAPITAL INC. ANNOUNCES NOTICE TO TERMINATE MANAGEMENT CONTRACT
TriNorth Capital Inc. has issued a notice to terminate the management contract with Navina Asset Management Inc. on 120 days notice, effective Jan. 25, 2011. With only two significant investments remaining in the portfolio and amidst continuing efforts to conserve cash, it was decided that active management of the investment portfolio will no longer be required in 2011. The manager has indicated its willingness to provide its assistance to TriNorth for an orderly transition in order to maximize the value of the remaining investments for shareholders.
We seek Safe Harbor.