RealCap Holdings Limited

October 22, 2009 15:21 ET

RealCap Holdings Sells Oil and Gas Assets

TORONTO, ONTARIO--(Marketwire - Oct. 22, 2009) - RealCap Holdings Limited announced today that it and RealGrowth (1986) Limited Partnership, a limited partnership of which RealCap owns 42.4%, have agreed to sell all of their oil and gas properties. RealCap expects to receive approximately $80,000 as a result of this sale and the subsequent wind-up of the limited partnership. As these assets were carried at approximately $442,000 on RealCap's consolidated balance sheet as at September 30, 2009, the Company will incur a loss from this transaction in the amount of approximately $362,000. The sale is expected to close on October 23, 2009.

Contact Information

  • RealCap Holdings Limited
    David S. Ades
    President
    (416) 486 7729