FREDERICTON, Sept. 28 /CNW/ - Trius Investments Inc. ("Trius") is pleased
to announce a comprehensive reorganization of the Company. It is the intention
of the Board of Directors that Trius will reorganize its business to emphasize
the development and funding of clean energy initiatives. Certain elements of
the reorganization are subject to shareholder and regulatory approval. A
general and special meeting of shareholders will be called to approve certain
elements of the reorganization.
As part of this reorganization Trius announces that
- Ross J. Beatty has joined the Board of Directors of Trius effective
September 26, 2005.
- The name of Trius Investments Inc. will be changed to Trius Energy
Capital Corp.
- Trius Leasing Inc., a wholly owned subsidiary of Trius Investments
Inc., will be acquired from Trius Investments Inc. by its controlling
shareholder Gordon Wheaton in exchange for two million shares of Trius
owned by Gordon Wheaton and the estate of Reginald Wheaton.
- A private placement to insiders of the Corporation at $.06 per unit
of 3,000,000 units consisting of one common share and one share
purchase warrant expiring two years from the date of issue and
exercisable at $0.12 per share will be completed.
- Trius will form a new subsidiary, Trius Asset Management Corp.
("TAMC"), which will apply for appropriate financial services
approvals in the Province of Ontario. Ross J. Beatty will be appointed
the President and C.E.O. of TAMC. Trius Asset Management Corp. will
launch and manage clean energy funds under such possible brands as
Trius Clean Energy Fund, Trius New Technology Energy Fund, Trius Clean
Air Fund and Trius Waste Management Fund.
Ross J. Beatty has a successful background of over 30 years in the
investment business. He will concentrate on building the Trius brand of funds
in the alternative energy sector as well as investing in clean energy projects
directly. To be based in Ontario, "TAMC" will deliver enhanced shareholder
value through its abilities to invest astutely in energy projects, to manage
them prudently and to deliver consistent cash flow and attractive returns for
its investors.
A graduate of St Michael's College, University of Toronto, Ross Beatty
has spent over 30 years in banking and the public markets, holding a variety
of roles such as officer, director and owner of Canadian investment brokerage
firms. As sole owner of the Investment Dealers Association investment firm
R.J. Beatty Financial Corp., Mr. Beatty has initiated or participated in
hundreds of IPOs.
Ross Beatty has held managerial and directorship positions with a number
of international investment houses, financial services and management
consulting companies, where he has served as Senior Partner of Business
Development -- responsible for joint ventures/strategic alliances and guided
venture capital investments in new media, natural resources and energy, food
sciences and information technologies.
He was Director of the Investment Sales team at Midland Walwyn, Canada's
largest financial services investment firm. He also taught as a Continuing
Education Professor of Investment Finance at Seneca College, in Toronto,
Ontario. Mr. Beatty's many civic achievements have earned him the respected
"Citizen of the Year" award, as well as a federal citation from Prime Minister
Chretien and the High Commissioner of the Bahamas to Canada, His Excellency
Luther Smith.
In his role as senior executive of Trius Asset Management Corp., Mr.
Beatty helps identify the most sought after talent for their portfolio
companies. He acts as a "venture catalyst" creating the structure of
organizations, building high-calibre leadership teams and providing Trius
Asset Management Corp.'s partner companies with ongoing counsel as their
business ventures grow.
Renewable energy, wind energy specifically, is the country's fastest
growing energy source, as fossil fuels for power generation become more
expensive and as resistance to polluting emissions intensifies. Wind is
abundant, inexhaustible, non-pollutant and widely distributed. Natural
Resources Canada estimates that Canada has almost 30,000 MW of developable
wind resources, enough to supply 15% of Canada's energy supply. The Federal
Government has pledged to source 20% of its energy from renewable resources.
Provinces across Canada are now selecting projects for new wind capacity. In
2004 more than 1,400 MW of capacity was awarded for long-term power purchase
agreements by provincially owned utilities.
Since the fuel is free, with further economies of scale and technology
innovations, wind power is becoming less expensive than developing new hydro,
nuclear and fossil fuel plants.
Trius Investments Inc. is listed on the TSX Venture Exchange under the
symbol "TRU". Trius has two businesses, residential waste management
collection and automobile and truck leasing both of which are carried on in
the Province of New Brunswick.
This press release may contain forward-looking statements including
management's assessment of future plans. These statements are based on current
expectations that involve a number of risks and uncertainties, which could
cause actual results to differ materially from those anticipated. These risks
include uncertainties resulting from potential delays or changes in plans with
respect to projects or capital expenditures.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
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