CPVC Financial Corporation

March 26, 2007 13:06 ET

CPVC Financial Corporation Announces Financial Results for Fiscal Year Ended December 31, 2006

MONTREAL, QUEBEC--(CCNMatthews - March 26, 2007) -


CPVC FINANCIAL CORPORATION (TSX VENTURE:LHB) today announced its financial results for the fiscal year ended December 31, 2006. The financial statements of CPVC Financial and the related Management Discussion and Analysis are available at www.sedar.com.

The highlights of the last fiscal year can be summarized as follows:

- CPVC Financial Corporation started the 2006 fiscal year with no operations and cash assets of approximately $500,000;

- During the course of the year, the Corporation concluded a $150,000 private placement;

- The Corporation established an investment policy as a first step to establishing merchant banking activities;

- The Corporation completed an amalgamation with CPVC Tremblant Inc., raising $1.6 million in the process;

- The Corporation purchased investments valued at approximately $1.5 million;

- Total assets of the Corporation have grown from approximately $500,000 to about $3.6 million during the year;

- The Corporation became listed as a Tier II issuer on the TSX Venture Exchange and completed its reactivation as a merchant bank;

- The Corporation completed a $1.0 million convertible investment in Prestige Telecom Inc.; and

- The Corporation completed $500,000 in equity investments.

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

Contact Information

  • CPVC Financial Corporation
    Alain Lambert
    President and CEO
    (514) 395-1191
    CPVC Financial Corporation
    1 Place Ville Marie, Suite 3840
    Montreal, Quebec H3B 4M6