Humboldt Capital Corporation

TSX VENTURE : HMB


Humboldt Capital Corporation

May 30, 2014 09:00 ET

Humboldt Reports Results for the Three Months Ended March 31, 2014

CALGARY, ALBERTA--(Marketwired - May 30, 2014) - Humboldt Capital Corporation (TSX VENTURE:HMB) -

For the first quarter of 2014 Humboldt is pleased to report earnings of $659,000 and net assets of $26 million, or $2.19 per share. At the quarter end Humboldt reported $7.9 million of cash which has been increased to over $9 million at the time of writing.

During the quarter Humboldt continued with its plan to:

  • Maintaining and increasing the Company's liquidity,
  • Continued restructuring the Company's portfolio to focus more on international energy companies and less on mining investments, and
  • Actively supported Tuscany Energy Ltd. in its efforts to expand market awareness with the purpose of raising additional capital and accelerating its Saskatchewan heavy oil development drilling program.
HIGHLIGHTS
Three months ended March 31, 2014 2013
(Thousands, except per share amounts)
Net realized gain on investments $ 711 $ 1,199
Net unrealized gain (loss) in investments $ 83 $ (6,340 )
Comprehensive earnings (loss) for the period $ 659 $ (5,299 )
Earnings (loss) per share, diluted $ 0.06 $ (0.44 )
Share capital $ 2,060 $ 2,060
Retained earnings $ 23,412 $ 25,335
Net Assets $ 26,138 $ 28,048
Cash and cash equivalents $ 7,896 $ 6,443
Shares outstanding 11,932 11,932
Net asset value per share, basic $ 2.19 $ 2.35
Net asset value per share, diluted $ 2.19 $ 2.34

Humboldt Financial Statements and Management's Discussion and Analysis for the three months ended March 31, 2014 have been filed on SEDAR and can be found on Humboldt's website at www.humboldtcapital.com.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Humboldt Capital Corporation
    R.W. Lamond
    Chairman of the Board
    (403) 269-9889
    (403) 269-9890 (FAX)

    Humboldt Capital Corporation
    C.A. (Tony) Teare
    Executive Vice President
    (403) 269-9889
    (403) 269-9890 (FAX)
    www.humboldtcapital.com