ABC Funds acquired shares of Tricon Capital Group Inc.

TORONTO, Aug. 11 /CNW/ - I.A. Michael Investment Counsel Ltd. ("IAM") announces that certain of the ABC group of funds managed by IAM (the "Managed Funds") acquired an aggregate of 2,000,000 common shares of Tricon Capital Group Inc. ("Tricon") in Tricon's recently completed initial public offering.

Based on the currently outstanding shares of Tricon, the 2,000,000 common shares owned by the Managed Funds represent approximately 10.96% of the outstanding Tricon common shares.

All Tricon shares acquired by the Managed Funds are being held for investment purposes. Depending on market and other conditions, IAM, as manager of the ABC group of funds, may from time to time in the future increase or decrease its ownership, control or direction over the shares or other securities of Tricon through market transactions, private agreement or otherwise.

For further information: Cheryl Matthews, 8 King Street East, Suite 700, Toronto, Ontario, M5C 1B5, Tel: [phone]