C.A. Bancorp Inc.

C.A. Bancorp Inc.

March 16, 2007 13:47 ET

C.A. Bancorp Inc. (TSX-V: BKP) Announces 2006 Financial Results

TORONTO, ONTARIO--(CCNMatthews - March 16, 2007) - C.A. Bancorp Inc. (the "Company") (TSX VENTURE:BKP) is pleased to announce its financial results for the year ended December 31, 2006.


- On January 26, 2006, the Company completed a transaction acquiring (a) all net assets of Sentry Select Focused Wealth Management Fund in exchange for 4,516,379 common shares and 4,516,379 common share purchase warrants of the Company, and (b) all of the outstanding shares of C.A. Bancorp Ltd. ("CABL") (now a wholly-owned subsidiary of the Company) and $9,874 due from Petro Assets Inc., the sole shareholder of CABL, in exchange for 3,399,906 common shares and 3,399,906 common share purchase warrants of the Company.

- In September 2006, the Company completed an offering for Sentry Select Total Strategy Fund, of which the Company is the manager. The offering raised total gross proceeds of $55,000,000 issuing 5,500,000 units.

- In December 2006, the Company completed a common share offering that raised total gross proceeds of $38,751,177 through the issuance of 129,170,590 shares.

- The Company's total assets as of December 31, 2006 were $38,015,410 (December 31, 2005 - $1,312,623).

- Since the completion of the offering, the Company has begun to invest the proceeds in a portfolio of publicly traded securities as part of its strategy to invest and be involved, either directly or indirectly, in catalyst or event driven opportunities. As of December 31, 2006, the market value of all its portfolio investments was $4,193,121.

- In 2006, the Company has also made investments in the following publicly traded companies: Charter Realty Holdings Ltd. (TSX-V: CRH), Universal Infrastructure Corp. (TSX-V: UIC.P) and Global Alternative Investments Inc. (TSX V: GLI.P), all considered related entities to the Company by virtue of similar ownership. The carrying value of these investments as of December 31, 2006 was $653,026.

- In 2006, the Company had total revenue of $432,249 (2005 - $85,445), comprised of asset management fees, interest and investment income and realized gains on the sale of marketable securities.

- For 2006, the Company incurred total expenses of $1,729,149 (2005 - $89,086), excluding the unrealized loss on marketable securities of $439,304.

2006 financial results

For the complete 2006 Management's Discussion and Analysis, and Financial Statements, please visit www.cabancorp.com or www.SEDAR.com.

C.A. Bancorp Inc.

C.A. Bancorp Inc. is a merchant bank established to provide investors with access to a range of private equity and other investment opportunities typically available only to institutional and high net worth investors. C.A. Bancorp is focused on investments, either directly, or through entities managed and/or sponsored by C.A. Bancorp, in public and private companies across a broad range of industries.

The Exchange Tower
130 King Street West
Suite 2805, P.O. Box 104
Toronto, Ontario M5X 1A4

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • C.A. Bancorp Inc.
    Mark Gardhouse
    Toll Free: 1-866-388-5985
    (416) 364-2398 (FAX)
    C.A. Bancorp Inc.
    Paolo De Luca
    Chief Financial Officer
    Toll Free: 1-866-388-5985
    (416) 364-2398 (FAX)
    Email: info@cabancorp.com
    Website: www.cabancorp.com