Amalfi Capital Corporation
TSX VENTURE : ALI.P

November 13, 2008 18:44 ET

Amalfi Capital Corporation Releases Third Quarter Financial Statements

CALGARY, ALBERTA--(Marketwire - Nov. 13, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS.

Amalfi Capital Corporation ("Amalfi" or "Corporation") (TSX VENTURE:ALI.P) released today its unaudited financial statements for its nine month period ended September 30, 2008.

The net and comprehensive loss for the nine month period ended September 30, 2008 was $111,618.



SUMMARY OF INCOME STATEMENT INFORMATION

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Income Statement September 30, 2008
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Total Revenue -
Expenses $ 120,340
Net and comprehensive loss for period $ 111,618
Loss per share - basic and diluted $ (0.018)
Weighted average shares outstanding - basic 6,220,438
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SUMMARY OF CASH FLOW INFORMATION

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Cash Flow September 30, 2008
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Cash from operating activities $ 21,763
Cash from investing activities -
Cash from financing activities $ 685,602
Change in cash and cash equivalents $ 707,365
Cash and cash equivalents - beginning of period $ 130,000
Cash and cash equivalents - end of period $ 837,365
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SUMMARY OF BALANCE SHEET INFORMATION

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Balance Sheet September 30, 2008
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Cash and Cash Equivalents $ 837,365
Total Assets $ 850,024
Total Liabilities $ 9,820
Share capital $ 952,362
Total Shareholders' Equity $ 840,744
Total Liabilities & Shareholders' Equity $ 850,024
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RESULTS OF OPERATIONS

The Corporation is classified as a "Capital Pool Company" for the purposes of the policies of the TSX Venture Exchange. The Corporation completed its initial public offering on April 29, 2008 at which time the Corporation was approved for public trading and thereafter has traded under the symbol 'ALI.P'. As a Capital Pool Company, the Corporation's current business is to identify and evaluate businesses and assets with a view to completing a "Qualifying Transaction". The Corporation has not commenced commercial operations, has not identified any potential Qualifying Transactions and has no assets other than cash.

Except as described in the Corporation's Prospectus dated March 17, 2008, the funds raised pursuant to the Corporation's initial Public Offering (the "Offering") and any subsequent financing raised prior to the Qualifying Transaction are intended to be utilized only for the identification and evaluation of potential Qualifying Transactions and not for any deposit, loan or direct investment in a potential acquisition.

As at September 30, 2008 the Corporation had no active operations. For the nine month period to September 30, 2008 the Corporation had a net loss of $111,618. The net loss related to office and administration and regulatory and filing expenses.

Further Information related to the Corporation, including the corporation's September 30, 2008 Financial Statements and Management Discussion and Analysis for the period ending September 30, 2008, is filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") and can be reviewed at www.sedar.com.

READER ADVISORY

This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Corporation's control. Such risks and uncertainties include, without limitation, risks associated, loss of markets, volatility of commodity prices, currency fluctuations, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Corporation's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Corporation will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Corporation or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Amalfi Capital Corporation
    Raymond Ludwig
    (403) 585-0450