Halmont Properties Corporation
TSX VENTURE : HMT

August 28, 2017 16:43 ET

Halmont Properties Corporation: News Release

TORONTO, ONTARIO--(Marketwired - Aug. 28, 2017) - HALMONT PROPERTIES CORPORATION (TSX VENTURE:HMT) announced today that the net income to common shareholders for the six months ended June 30, 2017 was $795,000 as compared to net income of $615,000 for the six months ended June 30, 2016.

Six months ended
(in thousands except per share amounts) June 30, 2017 June 30, 2016
Revenue $ 2,472 $ 2,034
Net income - total $ 1,011 $ 962
- for common shareholders $ 795 $ 615
Net income per share for common shareholders 1.04 ¢ 0.82 ¢

During the quarter, Halmont acquired a 25% interest in 51 Yonge Street, Toronto in exchange for 2,740,000 Class A common shares to increase its ownership of this property to 100%.

Subsequent to June 30, 2017, Halmont completed the acquisition of an additional 6% common share equity interest in Haliburton Forest & Wild Life Reserve in exchange for 6,200,000 Class A common shares to increase our ownership interest to 30%.

The book value of each common share, based on the Company's December 31, 2016 IFRS appraisals and including the net income earned for the six months ending June 30, 2017 is 45¢ per share.

This news release includes certain forward looking statements including management's assessment of the Company's future plans and operations based on current views and expectations. All statements other than statements of historic facts are forward looking statements. These statements contain substantial known and unknown risks and uncertainties, some of which are beyond the Company's control. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements. Readers should not place undue reliance on these forward looking statements which represent estimates and assumptions only as of the date on which such statements are made. The Company undertakes no obligation to publicly revise or update any forward looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Halmont Properties Corporation
    Heather M. Fitzpatrick
    President
    647-448-7147