Triox Limited
TSX VENTURE : TTL.P

April 24, 2014 16:14 ET

Triox Limited Announces Transfer of Ordinary Shares

CALGARY, ALBERTA--(Marketwired - April 24, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Triox Limited (TSX VENTURE:TTL.P) (the "Company" or "Triox") is pleased to announce the transfer of 1,000,000 ordinary shares of the Company (the "Ordinary shares") from Aoi Maru Corp. ("AMC") to Lastmile Ventures Ltd. ("LMVL") for cash consideration of $0.05 per ordinary share. The transfer of the ordinary shares of the Company (the "Transferred Shares") from AMC to LMVL has been accepted by the TSX Venture Exchange ("Exchange"), and will be completed in accordance with the terms of an escrow agreement between the Company, Olympia Trust Company, and certain securityholders of the Company, which was entered into October 20, 2011, in connection with the initial public offering of the Company (the "Escrow Agreement"). The Transferred Shares will remain in escrow in accordance with the terms of the Escrow Agreement. LMVL is not a Non-Arm's Length Party to Triox under the policies of the Exchange.

As a result of the purchase of the Transferred Shares, LMVL now owns or has control over 1,000,000 ordinary shares in the Company, representing 8.85% of the issued and outstanding ordinary shares of the Company. The shareholdings of AMC, which is controlled by a director of Triox, reduces from approximately 18% to 8.85% of the issued and outstanding ordinary shares.

LMVL has been working with Triox to complete a qualifying transaction. LMVL is controlled by Neil Bosch, who is a co-founder of Bosch Campbell Investment Management and the Managing Partner, a Director of Wealth Management and Portfolio Manager of Bosch Campbell Investment Management and Richardson GMP and Robert Campbell is a co-founder of Bosch Campbell Investment Management, a Director of Wealth Management and a Portfolio Manager of Bosch Campbell Investment Management and Richardson GMP.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Triox Limited
    Robb McNaughton
    Director
    (403) 232-9689