Sheridan Brothers Trust Announces Purchase of Notes by Related Parties

TORONTO, ONTARIO--(Marketwire - Jan. 10, 2012) - Sheridan Brothers Trust (the "Trust") announced on January 9, 2012 the issuance in the principal amount $200,000 of convertible unsecured notes (the "Notes").

The Notes bear interest of ten per cent payable semi annually with a term of five years. The Notes will also be convertible at the holder's option into units of the Trust at $0.15 per unit. Proceeds from the Notes will be applied to working capital.

Michael G Sheridan (principal amount of $180,000) and Pauline Jarry (principal amount of $20,000) acquired the Notes which is a related party transaction under MI 61-101 - Insider Bids, Issuer Bids, Business Combinations and Related Party Transactions as Mr. Sheridan and Ms. Jarry are trustees of the Trust. The private placement was approved by all of the non-interested trustees of the Trust. The private placement completed by the related parties was exempt from the related party valuation and minority securityholder approval requirements of MI 61-101 on the basis that at the time the transaction is agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25 per cent of the Company's market capitalization.

Forward-Looking Statements

This press release may contain forward-looking statements, which are subject to risks and uncertainties and other factors that may cause the Trust's results to differ materially from expectations. When reviewing the Trust's forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. These include risk relating to market fluctuations, investee performance, strength of the North American and European economy, foreign exchange fluctuations and other risks not yet known to the Trust. These forward-looking statements speak only as of the date hereof. Unless otherwise required by applicable securities laws, the Trust disclaims any intention or obligation to update these forward-looking statements. The Trust does have an ongoing obligation to disclose material information as it become available. The discussion also includes cautionary statements about these matters. You should read the cautionary statements made as being applicable to all forward-looking statements wherever they appear in this document.