Toronto-TriNorth Capital Inc. participated in an $80 million private placement offering of MagMinerals Potash Corp. securities that closed on April 4, 2008. TriNorth invested $3 million in MagMinerals at $4.00 per share for 750,000 shares. It is anticipated that MagMinerals will go public before the end of 2008. MagMinerals has exclusive rights to one of the largest carnallite deposits in the world, in the Republic of Congo, with potash production expected to commence in Q1 2011. “TriNorth is currently evaluating several early stage investments in the fertilizer space,” said Ravi Sood, president of Lawrence Asset Management Inc., the manager of TriNorth. “We expect the fundamentals for fertilizers and potash in particular to remain compelling for some time. MagMinerals is an advanced project with an excellent management team and a path to liquidity already in place, making it an attractive investment for TriNorth.” TriNorth is a Canadian-based investment company that invests in a diversified portfolio of companies to generate long-term capital growth for shareholders. TriNorth takes an active interest in its investee companies from the earliest stages, providing strategic and financial counsel, support, and direction to assist in their growth and success.
Transparency Across the Fertilizer Value-Chain