FirstGrowth Capital Inc.

FirstGrowth Capital Inc.

December 01, 2006 07:00 ET

FirstGrowth Capital Inc. Announces 9 Month Financial Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 1, 2006) - FirstGrowth Capital Inc. (TSX VENTURE:FGC), a TSX Venture Exchange (the "Exchange") listed Company (the "Company"), is pleased to announce the financial results for the 9 month period ending September 30, 2006 for its 98.36% owned subsidiary, Kinetex Inc. ("Kinetex").

For the period of 9 months ending September 30, 2006 Kinetex Inc. had unaudited sales of $7,279,044 which represents an increase of $3,937,023 or 117% over the same period in 2005. On these sales it generated an estimated EBITDA of $2,383,471 which represents an increase of $1,737,529 or 268% over the same period in 2005.

The financial results of Kinetex will be reflected in the Company's December 31, 2006 consolidated audited year end statements.

The Company received final approval of the acquisition of Kinetex from the TSX Venture Exchange on October 27, 2006.

Kinetex is a Calgary-based integrator of applied sciences to the resource industry including both Oil & Gas and Mining. One of Kinetex's primary services is seismic imaging utilizing the proprietary VectorSeis® Recording System and "Digital 3 Component Full Wave" imaging.


Gilbert Schneider, President

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • FirstGrowth Capital Inc.
    Gil Schneider
    (604) 484-5761