Trisura Group Ltd V.TSU

Primary Symbol: T.TSU Alternate Symbol(s): TRRSF

Financial Services Insurance - Property & Casualty

Trisura Group Ltd. is a specialty insurance provider. The Company is engaged in operating in surety, risk solutions, corporate insurance, and fronting business lines of the market. It has investments in subsidiaries through which it conducts insurance and reinsurance operations. Those operations are primarily in Canada (Trisura Canada) and the United States (Trisura US). Its segments include the operations of Trisura Canada, comprising surety business underwritten in both Canada and the United States, and risk solutions, fronting and corporate insurance products primarily underwritten in Canada and Trisura US, which provides specialty fronting insurance solutions underwritten in the United States. The main products offered by its surety business line are contract surety bonds, commercial surety bonds, developer surety bonds, and new home warranty insurance. Its contract surety bonds, such as performance and labor and material payment bonds, are primarily for the construction industry.

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Trisura Group Ltd > Read this very very well - we will talk tomorr

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Comment by mdjbrownon Jun 17, 2011 9:11am

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Post# 18728157

RE: Read this very very well - we will talk tomorr

Thanks Crazy,

Finally some facts from management. As unfortunately suspected, TSU is nearly under water and needs cash desperately within the next couple months to stay afloat.

It looks like the first $5 million raised is going directly to accounts payable.

$3 million is earmarked to get Karl online, so it appears that this is now a make it or break it scenario for Karl

If they only recieve the minimum of 8 million through the rights offering, it will be decision time as $2 million is still needed for QBR to increase the flow rates

One question that I am a little confused about is this:

Shareholders will be given the right to purchase 1.8176 shares at CAD .09 for each share held

Am I reading into this wrong or does that not value these rights at less than .045 cents each?

https://www.transeuroenergy.com/s/Update.asp?ReportID=462682&_Type=Update&_Title=Q-A-on-Consolidation-and-Rights-Issue

jmo