TriNorth Capital Inc.
TSX : TRT

TriNorth Capital Inc.

March 05, 2007 11:10 ET

TriNorth Increases Investment in VFM Interactive

TORONTO, ONTARIO--(CCNMatthews - March 5, 2007) - TriNorth Capital Inc. (TSX:TRT) has increased its investment in VFM Interactive Inc., a Toronto-based online media company that enables consumers to view photographs, videos and virtual tours of hotels and other travel destinations.

TriNorth has invested $600,000 in units issued by VFM consisting of $600,000 principal amount of convertible secured debentures and 12 million warrants to purchase common shares. The debentures have a maturity date of March 31, 2008 and are secured against the assets of VFM. If exercised, the warrants would give TriNorth approximately 28% of the equity of VFM when combined with its current shareholdings, calculated on a fully diluted basis.

VFM is a leading distributor of rich media for the hotel and travel industry. VFM helps market hotels more effectively by distributing their pictures, virtual tours, and videos to thousands of travel sites where consumers make travel decisions. VFM has the broadest rich media distribution network available, delivering rich media to over 25,000 partner travel websites, portals, search and meta-search engines, corporate booking engines and major travel distribution intermediaries. VFM distributes rich media for over 3,000 hotels.

TriNorth Capital Inc. is a Canadian-based investment company that has privately held and publicly traded venture investments, investments in marketable securities and substantial tax losses to shelter future income and investment gains.

For more details about TriNorth and its investments please visit its website at www.trinorthcapital.com.

This release contains forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct, and such forward looking statements should not be unduly relied upon. These statements speak only as of the date of this release, and are subject to a number of risks and uncertainties, including the factors discussed in the Company's current and previous filings with the Canadian securities regulatory authorities. Actual results could differ materially from these forward-looking statements.

Contact Information

  • TriNorth Capital Inc.
    John Pennal
    President & Chief Executive Officer
    (416) 956-4926
    (416) 216-3930 (FAX)
    Website: www.trinorthcapital.com