FREDERICTON, New Brunswick, Nov. 30, 2017 (GLOBE NEWSWIRE) — Trius Investments Inc. (“Trius” or the “Company”) (TSXV:TRU) is pleased to announce the results of its annual and special meeting of shareholders (the “Meeting”) held on November 30, 2017.
Meeting Results
Shareholders voted in favour of all items of business, including setting the size of the board of directors (the “Board”) at five members and electing each of the directors nominated by management, namely new director Peter K. Deacon along with returning directors Joel Freudman, Damian Lopez, John M. Robertson, and R. Gordon Wheaton.
The other items put forth at the Meeting were also approved, namely the re-appointment of the Company’s auditors, Daye Kelly & Associates, and the re-approval of the Company’s Stock Option Plan (the “Option Plan”).
Joel Freudman, Trius’ President and Chief Executive Officer, commented: “We are pleased with this vote of confidence from our shareholders, and welcome Peter to the Board. His professional network and deal flow will be of great value to the Company going forward. We expect an exciting 2018 as we accomplish additional objectives related to our strategic repositioning, as previously announced on September 26, 2017.”
Other Matters
The Company has become aware that on November 29, 2017, Resurgent Capital Corp. (“Resurgent”), a private company whose investment decisions are controlled by Mr. Freudman, acquired an aggregate of 2,000,000 common shares of Trius from two vendors. Accordingly, Resurgent has become the single largest shareholder of the Company, owning approximately 17.7% of Trius’ issued and outstanding shares. The Company welcomes Resurgent as a key strategic investor, and this investment further aligns Mr. Freudman’s interests with those of other shareholders.
The Company also announces that it has granted an aggregate of 300,000 incentive stock options (“Options”) to two directors in accordance with its Option Plan. These Options have a five-year term and an exercise price of $0.16 each, and vest immediately.
About Trius Investments Inc.
Trius owns interests in several real estate and healthcare investments in the United States. Trius’ common shares trade on the TSX Venture Exchange under the symbol “TRU”.
For further information, please contact:
Joel Freudman
President and Chief Executive Officer
Trius Investments Inc.
Telephone: (647) 880-6414
Cautionary Statements
Neither the 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 press 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”, “continues”, “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, without limitation, statements regarding the strategic plans and objectives of Trius and of Resurgent. This forward-looking information consists of disclosure regarding possible events, conditions or results and is based on numerous assumptions believed by management to be reasonable at the time at which they were made.
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: inability to source and/or complete transactions on favourable terms or at all; regulatory approval processes; challenges in attracting and retaining qualified personnel; volatility in financial markets and economic conditions; and other risks described in the Company’s 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.