TORONTO, Nov. 29, 2017 (GLOBE NEWSWIRE) -- Resurgent Capital Corp. (“Resurgent”) announces that today it has acquired ownership and control of an aggregate of 2,000,000 common shares (“Shares”) of Trius Investments Inc. (TSXV:TRU) (the “Issuer”), representing approximately 17.7% of the issued and outstanding Shares, by way of private agreement with two vendors.
The Shares were purchased at a price of $0.17 per Share (the “Purchase Price”) for total cash consideration of $340,000, including $0.05 per Share placed into escrow (the “Escrowed Amount”) pending the occurrence of certain events involving the Issuer. Upon such events occurring, the Escrowed Amount will be allocated amongst Resurgent and the vendors by reference to a pre-determined formula, which may have the effect of reducing the Purchase Price.
Prior to this transaction, Resurgent did not own any Shares. After giving effect to this transaction, Resurgent owns 2,000,000 Shares, representing approximately 17.7% of the issued and outstanding Shares.
Resurgent acquired the Shares for investment purposes and may, from time to time, acquire additional Shares or dispose of some or all of the Shares it currently holds. Resurgent does not currently intend to change the Issuer’s previously-disclosed plans to dispose of its existing investments.
This news release is issued pursuant to the early warning requirements of applicable securities laws. This news release and the related early warning report will be filed on SEDAR at www.sedar.com under the Issuer’s profile.
About Resurgent Capital Corp. Resurgent is a Toronto-based merchant bank whose mission is to catalyze management teams to make meaningful corporate changes for the benefit of shareholders. Resurgent solely targets undervalued micro-capitalization Canadian public companies. Resurgent is incorporated under the laws of the Province of Ontario.
For further information or to obtain a copy of the related early warning report, please contact:
Resurgent Capital Corp. Suite 803, 228 Queens Quay West Toronto, Ontario M5J 2X1
Attn: Joel Freudman, President Tel: (647) 880-6414
