(November 21 – 15:40 ET) – True North Capital Corporation says it intends to wait until the upcoming annual and special meeting of common shareholders of Canadian First Financial Group Inc. are over before it will proceed with its previously announced securities exchange take-over bid for Canadian First. It may not proceed at all.

True North had originally expected to mail its circular to Canadian First shareholders by the beginning of November. Subsequent to the announcement of its take-over bid on October 10, 2000, Canadian First called an annual and general meeting of its shareholders and circulated a notice of meeting and proxy materials related to that meeting.

True North expects to be able to announce its future intentions towards the end of December, after assessing developments from the shareholders meeting.
-IE Staff