Aberdeen International Partners With Lawrence Asset Management Inc on Trinorth Capital Inc.
Market Wire, September, 2007
ABERDEEN INTERNATIONAL INC. ("Aberdeen" or the "Company") (TSX VENTURE: AAB) is pleased to announce that it is partnering with Lawrence Asset Management Inc. ("Lawrence") to invest in Trinorth Capital Inc.
TRINORTH will hold a concentrated portfolio of Canadian public companies, near public companies, global venture capital initiatives and physical commodities. Many of these opportunities will be initiated and actively managed by Aberdeen and Lawrence.
By partnering up with Aberdeen, Lawrence has access to a strong technical and operational team headed up by Stan Bharti, P.Eng. Mr. Bharti is President & CEO of Forbes & Manhattan, Inc., and Executive Chairman of Aberdeen International.
"It's an ideal opportunity for Aberdeen," said Stan Bharti, "Lawrence sees tremendous early stage deal flow, both public and private. Trinorth with over $140 million in tax losses, is an ideal public vehicle for these investments. Aberdeen can co-invest with Lawrence and provide technical and management support to build these assets."
George Faught, President and CEO of Aberdeen says "we welcome the opportunity to form a strategic alliance with Lawrence and have a long history of working directly with them in sourcing and developing deals. We feel this is an excellent vehicle to help expand Aberdeen's global investment strategy".
Ravi Sood, President and COO of Lawrence Asset Management says," Our relationship with Aberdeen and Forbes and Manhattan has proven to be very successful and this investment and partnership with Aberdeen will further enhance our strategy in sourcing quality investment opportunities globally in the resource sector."
Aberdeen has acquired 3,750,000 Special Warrants in TRINORTH CAPITAL INC ("TRINORTH"). Each Special Warrant priced at $0.20 each, will entitle the holder to receive one unit of the Corporation. Each Unit will consist of one common share of the corporation and one common share purchase warrant. Each Warrant will entitle the holder to purchase one Common Share at a price of $0.24 for 3 years. Aberdeen will have the right to appoint one representative to the TRINORTH board. Mr. Bharti has also indirectly purchased an additional 1,250,000 special warrants.
About Aberdeen International Inc:
Aberdeen is a publicly traded global investment and merchant banking company focused on small cap companies in the resource sector. Aberdeen will seek to acquire significant equity participation in pre-IPO and/or early stage public resource companies with undeveloped or undervalued high-quality resources. Aberdeen will focus on companies that: (i) are in need of managerial, technical and financial resources to realize their full potential; (ii) are undervalued in foreign capital markets; and (iii) operate in jurisdictions with moderate local political risk. Aberdeen will seek to provide value-added managerial and board advisory services to companies. The Corporation's intention will be to optimize the return on its investment over an 18 to 24 month investment time frame.
On June 6, 2007 the Corporation completed a private placement of subscription receipts (the "Financing") pursuant to which it raised aggregate gross proceeds of CDN$60 million. The Financing involved the issuance of 75 million subscription receipts at an issue price of CDN$0.80 per subscription receipt. Each unit consists of one common share and one half of one common share purchase warrant, each whole warrant will be exercisable into one common share of the Corporation for a period of five years following the closing date at a price of CDN$1.00.
Cautionary Note Regarding Forward-looking Information
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the Company's plan of business operations; projections regarding future success based on past success; availability of financing on acceptable terms; ability to identify and execute investments; investment philosophy and business purposes; projected costs and expenditures; potential benefits of the business; and anticipated returns. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. In particular, past success or achievement does not guarantee future success. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward- looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward- looking information, whether as a result of new information, future events or otherwise.
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