Centiva Capital Inc.

Centiva Capital Inc.

April 28, 2011 09:52 ET

Centiva Files 2010 Financial Statements

TORONTO, ONTARIO--(Marketwire - April 28, 2011) -Centiva Capital Inc. (TSX VENTURE:CVC) has filed its audited financial statements for the year ended December 31, 2010 and the accompanying Management's Discussion and Analysis on SEDAR (www.sedar.com).

The results reflect a write-up of the Company's investment in VFM Leonardo Inc. ("VFM") to $1,844,000, which was the carrying value for the investment prior to the commencement of the litigation against VFM in 2009.

As a result of the litigation, the Company wrote down the value of its investment in VFM at December 31, 2009 to $1. The litigation was resolved in a manner favourable to VFM in the fourth quarter of 2010.

Centiva owns approximately 8.2% of VFM, or 13.9% should all shares, options and warrants be exercised.

Centiva Capital is a TSXV listed company with investments in early-stage businesses with high growth potential and a portfolio of marketable securities.

Included in this news release are matters that constitute "forward-looking" information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may" or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are outside the control of the Company. All subsequent forward-looking statements attributable to the Company or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Contact Information

  • Centiva Capital Inc.
    John D. Pennal
    (416) 956-4926