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1BestPickson Apr 01, 2011 10:05am
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TriNorth wonders
TriNorth wonders
TriNorth wonders what to do with Feronia shareholding
2011-04-01 09:21 ET - News Release
Mr. John Pennal reports
TRINORTH EXPLORES ALTERNATIVES FOR FERONIA SHAREHOLDING
TriNorth Capital Inc.'s board of directors is exploring several plans for dealing with its shareholding in Feronia Inc., including the distribution of those shares to TriNorth's shareholders on a tax-efficient basis.
TriNorth owns 17 million common shares of Feronia, representing approximately 17 per cent of the outstanding common shares (approximately 11.8 per cent after giving effect to the latest financing).
The Feronia shares are subject to certain escrow and lock-up provisions that restrict TriNorth's ability to sell them prior to March 31, 2013.
We seek Safe Harbor.