TORONTO, July 19, 2012 /CNW/ - Further to Difference Capital Funding Inc.'s ("Difference Capital") (TSXV: DCF) press release dated May 28, 2012, Difference Capital announces that it continues to work with its transfer agent and the transfer agent of Feronia Inc. with respect to the distribution (the "Distribution") of the 14.9 million common shares of Feronia Inc. ("Feronia Shares") currently held by a trustee for the benefit of Difference Capital shareholders of record as of May 11, 2012.
The Distribution has been delayed on account of the certificates representing the Feronia Shares having been lost by the former CEO of Trinorth Capital Inc., prior to the closing of the transactions contemplated by Difference Capital's press release of April 5, 2012. Difference Capital's current management team continues to work diligently with Feronia Inc.'s transfer agent, an insurance provider and Difference Capital's former legal counsel to obtain a bond to facilitate the replacement of the lost Feronia Shares.
Difference Capital will provide an update on the expected timing of the replacement of the Feronia Share certificates and the Distribution once it resolves the outstanding mechanics with Feronia Inc.'s transfer agent. It is expected that this process will take another month.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the proposed transactions and neither of the foregoing entities has approved or disapproved of the contents of this press release.
SOURCE Difference Capital Funding Inc.