Trius Investments Inc.

March 29, 2016 08:00 ET

Trius Investments Inc. Announces Asset Sale

FREDERICTON, NEW BRUNSWICK--(Marketwired - March 29, 2016) - Trius Investments Inc. ("Trius") (TSX VENTURE:TRU) today announced that it has entered into a definitive purchase and sale agreement to sell its waste collection business to FERO Waste & Recycling Inc. headquartered in Moncton, NB. Pursuant to the terms of this arms-length agreement, Trius will receive approximately 5 million dollars for the sale of the assets and goodwill of its wholly owned subsidiaries, Trius Disposal Systems Ltd. and Capital Waste Ltd.

Subject to regulatory approvals, satisfactory due diligence and other customary closing conditions, the parties anticipate closing to be on or around March 31, 2016.

Gordon Wheaton, CEO of Trius Investments Inc. comments, "We are pleased with this agreement. We have worked exceptionally hard to grow our disposal business and we see this as an opportunity to capitalize on our success. We see this transaction as adding immediate and direct value to the Company and its shareholders. I would like to thank our valued employees for their hard work and dedication and for the high standards of service they have provided. I would also like to thank FERO Waste not only for their professionalism but also for their commitment of a smooth transition while maintaining excellence in customer service."

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.

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