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TriNorth Capital Inc. Announces Changes to the Board of Directors

^{Published on 2009-08-13 11:21:51, Last Modified on 2009-08-13 11:22:00 - Market Wire}
 

 TORONTO, Aug. 13 /CNW/ - The Board of Directors of TriNorth Capital Inc. ("TriNorth" or the "Company") (TSX-V: TRT) announced today that it had received a resignation notice from Board and Audit Committee member Rene Bharti. Mr. Bharti resigned from the Board due to other professional commitments. The Board thanked Mr. Bharti for the contribution he has made to TriNorth as a Board member over the past two years. The Board also announced the appointment of Victor A. Wells to the TriNorth Board of Directors and the TriNorth Audit Committee. Mr. Wells is an experienced Corporate Director and was Chief Financial Officer of Titanium Corporation Inc., a TSX-listed mineral company, from October 2007 to June 2009. Mr. Wells is also a director and chair of the Audit Committee of MagIndustries and Northstar Healthcare Inc., and is a director and member of the Audit Committee of Student Transportation of America Ltd. Previously, he was a trustee and Chair of the Audit Committee of Canada Cartage Diversified Income Fund. From June 2001 to April 2006, Mr. Wells was Vice President Finance and Chief Financial Officer of Chemtrade Logistics Income Fund. From May 1998 to June 2001 he was Vice President Finance and Chief Financial Officer of Tahera Diamond Corporation. Mr. Wells is currently a Director and Chairman of the Committee on Corporate Reporting of Financial Executives International and is a past Chapter President and Director. He was a member of the Accounting Standards Board from 1991 to 1995. Mr. Wells obtained his Chartered Accountant designation with Ernst & Young LLP in Toronto and was elected a Fellow of the Institute of Chartered Accountants of British Columbia in 1990 and the Institute of Chartered Accountants of Ontario in 2006. Mr. Wells obtained his Institute of Corporate Directors designation in 2007. 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 ]