14/11/2017 18:10:21

Sonor Investments Limited Reports Third Quarter Financial Results

TORONTO, Nov. 14, 2017 (GLOBE NEWSWIRE) -- Sonor Investments Limited (TSXV:SNI.PR.A) today reported its financial results for the nine months ended September 30, 2017.   

        
  9 months ended September 30  3 months ended September 30
  2017 2016  2017 2016 
  $000 $000  $000 $000 
           
Revenue 4,895 4,863  117 497 
           
Net Income (loss) 4,510 4,483  (22)355 
           
           

Michael Gardiner, Chairman and CEO, stated that as at September 30, 2017 the Company’s assets totaled $65.8 million.  These assets included $10.5 million of marketable securities, $35.6 million in a private investment and $19.7 million of cash, cash equivalents and short term investments. 

During the nine months ended September 30, 2017, the Company realized $1,102,000 of net capital gains on the sale of investments.  In the comparable period for 2016 the Company realized $1,095,000 of net capital gains on the sale of investments. During the three months ended September 30, 2017 there were no capital gains compared to $358,000 of net capital gains on the sale of investments during the three months ended September 30, 2016. 

During the period under review, the Company has maintained net assets and qualified investments in excess of the amounts prescribed under the share conditions pertaining to the First Preference Shares in its capital stock.

Sonor Investments Limited is an investment company located in Toronto, Canada.  The First Preference Shares of Sonor trade on The TSX Venture Exchange under the symbol SNI.PR.A.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Company Contacts:

Mr. Michael Gardiner

Chairman and CEO

(416) 369-1499 

Mr. David Middleton

Treasurer & CFO

(416) 369-1499

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