Canadian Public Venture Finance I Inc.
TSX VENTURE : NNN.P

May 27, 2005 14:22 ET

Canadian Public Venture Finance I Releases Financial Statements for the First Quarter Ended March 31, 2005

MONTREAL, QUEBEC--(CCNMatthews - May 27, 2005) - Canadian Public Venture Finance I Inc. (TSX Venture:NNN.P) ("Finance I") released today its unaudited financial statements for its first quarter ended March 31, 2005. The Company is a capital pool company which completed its initial public offering in April 2004.

The net loss for the first quarter ended March 31, 2005 was $9,228.



SUMMARY OF INCOME STATEMENT INFORMATION

------------------------------------------------------------------------
Income Statement March 31, 2005 December 31, 2004
------------------------------------------------------------------------
Interest (income) $ 9,280 $ 26,903
Net income (loss) $ (9,228) $ (237,688)
Per share - basic and diluted $ (0.0009) $ (0.026)
Weighted average shares outstanding
- basic 9,700,000 8,954,097
------------------------------------------------------------------------

SUMMARY OF CASH FLOW INFORMATION

------------------------------------------------------------------------
Cash Flow March 31, 2005 December 31, 2004
------------------------------------------------------------------------
Cash from operating activities $ 14,081 $ (35,473)
Cash from investing activities $ (41,157) $ 0
Cash from financing activities $ 0 $ 1,333,288
Increase (decrease) in cash and cash
equivalents $ (27,076) $ 1,297,815
Cash and cash equivalents - beginning
of period $ 1,738,734 $ 440,919
Cash and cash equivalents - end of
period $ 1,711,658 $ 1,738,734
------------------------------------------------------------------------

SUMMARY OF BALANCE SHEET INFORMATION

------------------------------------------------------------------------
Balance Sheet March 31, 2005 December 31, 2004
------------------------------------------------------------------------
Cash and cash equivalents $ 1,711,658 $ 1,738,734
Total Assets $ 1,763,228 $ 1,745,434
Total Liabilities $ 33,967 $ 6,945
Share capital $ 1,778,288 $ 1,778,288
Total Shareholders' Equity $ 1,729,261 $ 1,738,489
Total Liabilities & Shareholders'
Equity $ 1,763,228 $ 1,745,434
------------------------------------------------------------------------


The Company's March 31, 2005 unaudited financial statements may be viewed on SEDAR at http://www.sedar.com

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

Contact Information

  • Canadian Public Venture Finance I Inc.
    Alain Lambert
    President
    (514) 392-9419