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TriNorth Capital Inc. Seeks Shareholder Approval for Share Consolidation

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^{Published in Business and Finance on Thursday, May 21st 2009 at 14:11 GMT, Last Modified on 2009-05-21 14:12:24 by Market Wire}  

 TORONTO, May 21 /CNW/ - TriNorth Capital Inc. ("TriNorth" or the "Company") (TSX: TRT) announces that at an annual and special meeting of shareholders of the Company to be held on June 22, 2009 (the "Meeting"), shareholders will be asked to consider and approve a special resolution to consolidate all of the Company's issued and outstanding common shares on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidation common shares. TriNorth currently has 150,747,317 common shares outstanding and the consolidation of 10 to 1 will reduce the common shares outstanding to approximately 15,074,731. Any fractional shares of the Company arising from the share consolidation will be rounded down to the nearest whole share of the Company. The Board and management of TriNorth believe it is in the best interests of shareholders to complete the share consolidation to provide the Company with increased flexibility to seek additional financing opportunities and to pursue strategic transactions because it may improve the market's perception of the Company. Further details regarding the background, reasons and impact of the proposed share consolidation are described in the Company's management information circular, a copy of which is available at [ www.sedar.com ]. The information circular also describes particulars of the other matters to be voted upon at the meeting and the manner in which shareholders may vote on such matters. The special resolution relating to the proposed share consolidation requires the approval of not less than 66 2/3% of the votes cast by shareholders represented at the Meeting in person or by proxy. The proposed share consolidation also requires the approval of the TSX Venture Exchange as it is anticipated that TriNorth's previously disclosed change of its listing from the Toronto Stock Exchange to the TSX Venture Exchange will occur prior to the Meeting. Neither the Company's name nor stock symbol will change as a result of the change in listing. About TriNorth TriNorth is a Canadian-based investment company that invests in a diversified portfolio of companies to generate long-term capital growth for shareholders. TriNorth takes an active interest in its investee companies from the earliest stages, providing strategic and financial counsel, support and direction to assist in their growth and success. TriNorth's investment strategy includes structuring and initiating deals focused on particular resources, themes or regions as well as launching the development of businesses in select industries by providing assistance with the hiring of management teams, providing seed capital and facilitating IPOs. All investment activities of TriNorth are managed by Lawrence Asset Management Inc, a leading Canadian alternative investment asset manager. Cautionary Notes Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the stated use of proceeds; plan of operations and comparative advantages; and benefits of this investment. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, regulatory risks, risks inherent in foreign operations, commodity prices, competition, and investments having no history of operations. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise. %SEDAR: 00003606E 

For further information: (416) 362-6283, Catherine Stretch, Lawrence Asset Management Inc., Toronto, Canada, [ info@lawrenceasset.com ], [ www.trinorthcapital.com ]