Tortoise Capital Resources Corp. (NYSE: TTO) (“the Company”) today announced that it intends to change its name to CorEnergy Infrastructure Trust, Inc. The Company also intends to change its ticker symbol on the New York Stock Exchange to CORR. Both the name change and the ticker symbol are expected to be effective as of Dec. 3, 2012.
The name change is part of the Company’s ongoing transition from a business development company managed by Tortoise Capital Advisors L.L.C. (“Tortoise”), to a real estate investment trust (“REIT”) managed by Corridor InfraTrust Management, LLC (“Corridor”). As part of its rebranding, the Company’s website will be relocated to www.corridortrust.com, effective Dec. 3, 2012. Tortoise will remain an advisor to the Company, and an affiliate of Corridor.
“The name change to CorEnergy Infrastructure Trust, Inc. symbolizes our continued commitment to become an energy infrastructure REIT,” said CEO Dave Schulte. “With our year-end approaching, and a continued transition underway from Tortoise to Corridor, we felt it was appropriate to change our name. Corridor has been our manager for almost a year and CorEnergy Infrastructure Trust, Inc. is a synthesis of the Corridor name and our strategy of acquiring real property energy assets with the intent of electing REIT status for 2013.”
About Tortoise Capital Resources Corp. (CorEnergy Infrastructure Trust, Inc.)
Tortoise Capital Resources Corp. (CorEnergy Infrastructure Trust, Inc.) seeks to acquire real property assets in the U.S. energy infrastructure sector. The Company seeks to acquire midstream and downstream real property assets from energy companies that simultaneously lease the properties back from the Company under long-term triple net leases. These assets may include pipelines, storage tanks, transmission lines and gathering systems, among others. The Company’s principal objective is to provide stockholders with an attractive risk-adjusted total return, with an emphasis on distributions and distribution growth. The Company is managed by Corridor InfraTrust Management, LLC. (www.corridortrust.com). Corridor is an affiliate of Tortoise Capital Advisors, L.L.C., a registered investment adviser with over $9.2 billion of assets under management in the U.S. energy infrastructure sector as of October 31, 2012.
This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the Company and believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the Company does not assume a duty to update this forward-looking statement.
Rachel Stroer, 913-387-2790
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