E.G. Capital Inc.
TSX VENTURE : EGC.H

July 29, 2011 13:36 ET

E.G. Capital Inc. Announces Results for the Three Months Ended May 31, 2011

BROSSARD, QUEBEC--(Marketwire - July 29, 2011) - E.G. Capital Inc. (TSX VENTURE:EGC.H), ("E.G. Capital"), formally National Construction Inc., today announces results for the three months ended May 31, 2011.

Comparison of the three months ended May 31, 2011 and May 31, 2010

Revenue was $nil for the three month period ended May 31, 2011 as compared to $nil for the same period last year. Administrative Expenses were $21,060 for the three months ended May 31, 2011 as compared to $29,878 for the same period last year. For the three months ended May 31, 2011, the $21,060 included approximately $18,000 in professional and advisory expenses and approximately $3,000 in regulatory related filing expenses, consulting, and sundry administrative costs. For the three months ended May 31, 2010, the $29,878 included approximately $26,000 in professional and advisory expenses and approximately $3,000 in regulatory related filing expenses, consulting and sundry administrative costs.

The Corporation incurred interest and bank charges of $18 for the three months ended May 31, 2011 as compared to interest expense of $43 for the same period last year.

As a result of the foregoing factors, the loss for the three months ended May 31, 2011 was $21,078 as compared to a loss of $29,921 for the same period last year.

About E.G. Capital Inc.

The Corporation is an inactive company listed on the NEX board of the TSX Venture Exchange Inc. ("the Exchange). The business of the Corporation is to identify and evaluate businesses or assets with a view to completing a reactivation transaction on the Exchange.

Following the sale of certain assets in February, 2005, the Corporation did not engage in any active business other than to preserve and/or convert into cash any assets remaining with the Corporation and to pursue future shareholder enhancing opportunities. The Corporation intends to review and pursue opportunities to unlock the value of its unrecorded future income tax assets.

This press release may contain forward-looking statements relating to the Corporation. Among the important factors that could cause actual results to differ materially from those indicated by such forward looking statements are competitive pressures, technical difficulties, market acceptance, changes in customer requirements, and general economic conditions, and other risks and uncertainties as described from time to time in Corporation's reports, registration statements and filings filed by the Corporation with securities regulatory authorities.

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

Contact Information

  • E.G. Capital Inc.
    William G. Edwards
    CFO
    (416) 565-0066