NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
FREDERICTON, New Brunswick, May 25, 2020 (GLOBE NEWSWIRE) -- Trius Investments Inc. (TSXV: TRU.H) (“Trius” or the “Company”) announced today that it has completed a non-brokered private placement for aggregate gross proceeds of $500,000. The Company issued a total of 10,000,000 common shares in the capital of the Company at a price of $0.05 per share (the “Offering”).
The proceeds derived from the Offering will be used for working capital and general corporate purposes, and to fund future investments.
Subscriptions by insiders of the Company accounted for $107,500 of the gross proceeds of the Offering. Participation by insiders in the Offering is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions by virtue of the exemptions contained in Sections 5.5(b) and 5.7(1)(b).
All of the securities issuable in connection with the Offering are subject to a hold period expiring four months and one day after date of issuance.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Company also announces that two insiders have voluntarily forfeited an aggregate of 275,000 incentive stock options.
About Trius Investments Inc.
Trius is an investment issuer searching for new investments and/or business opportunities. Trius’ common shares trade on the NEX Board of the TSX Venture Exchange under the symbol “TRU.H”.
Trius is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
President & Chief Executive Officer
Trius Investments Inc.
Phone: (647) 880-6414
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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”, “schedules”, “estimates”, “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 statements regarding expected use of proceeds from the Offering. This forward-looking information consists of disclosure regarding possible events, conditions or results and is based on numerous assumptions that Trius’ management believes to be reasonable in the circumstances. 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: volatility in financial markets and economic conditions; challenges in sourcing and executing transactions, whether in the Company’s targeted sectors or otherwise, and on favourable terms or at all; regulatory approval processes; and other risks described in Trius’ continuous disclosure documents. There can be no assurances that the forward-looking information in this press release 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 may be required by applicable securities laws.
