TORONTO: C.A.
Bancorp Inc. (“C.A. Bancorp”), controlling more than 5% of the issued
and outstanding trust units of PRT Forest Regeneration Income Fund (the
“Fund”), announced today its support of PRT Management Inc. (“PMI”),
the manager and administrator of the Fund, in its proposal to initiate
a controlled, disciplined and accretive growth strategy to strengthen
and diversify the revenue base of the Fund’s wholly owned operating
subsidiary, Pacific Regeneration Technologies Inc. (“PRT” or the
“Company”).
In conjunction
with this proposed change, PMI and C.A. Bancorp together will propose a
slate of independent Trustees for election at the Annual General
Meeting of unitholders of the Fund to be held on June 26, 2007. The
nominee Trustees, if elected, will bring broad and extensive business
expertise to the Fund.
PMI
and C.A. Bancorp intend to mail a dissident proxy circular to the
Fund’s unitholders in early June. The circular will outline the
strategy being proposed by PMI and C.A. Bancorp and will provide
additional information concerning the proposed new Trustees.
Unitholders of the Fund are encouraged to wait until receiving the PMI
and C.A. Bancorp proxy material before deciding how to vote at the
upcoming Annual General Meeting of the Fund.
C.A. Bancorp Inc.:
C.A. Bancorp Inc. is a publicly traded Canadian merchant bank and asset
manager, established to provide investors with access to a range of
private equity and alternative asset class investment opportunities,
typically available only to institutional and high-net-worth investors.
C.A. Bancorp focuses on small- to mid-capitalization public and private
opportunities that exhibit the potential for substantial capital
appreciation through operational improvements and/or enhanced strategic
positioning.
PRT Management Inc. : PMI is the administrator and manager of the Fund and PRT. PMI is owned by executives, managers and employees of PRT.
More information :
Mark Gardhouse, President, or Paolo DeLuca, Chief Financial Officer
1-866-388-5985
Fax: 416-861-8166
info@cabancorp.com
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