TORONTO, ONTARIO--(Marketwired - May 6, 2015) - Marret Resource Corp. (TSX:MAR) ("Marret" or the "Company") announces that it has reported a total comprehensive income for the quarter ended March 31, 2015 of $2.7 million or $0.15 per share compared to income of $3.3 million or $0.17 per share in the first quarter of 2014. As of March 31, 2015, the Company had total assets of $90.5 million, liabilities of $7.9 million, shareholders' equity of $82.6 million and a net asset value per share of $4.66. The financial statements along with management's discussion and analysis can be found on SEDAR (www.sedar.com) or on Marret's website (www.marret.com).
The Company also announced that the Board of Directors has approved a technical amendment to the by- laws of the Company dealing with the advance notice of shareholder nominations for election to the Board. The amendment is subject to shareholder ratification at the upcoming annual and special meeting to be held on June 29, 2015 (the "Meeting"). The purpose of the amendment is to require that such nominations be submitted in sufficient time to enable the Company to utilize the Notice and Access mechanism for communicating proxy related information to beneficial shareholders over the internet. For the Meeting, the deadline for any such submissions under the amended by-law is the close of business on May 8, 2015.
About Marret Resource Corp.
Marret Resource Corp. is focused on natural resource lending. The Company's business is primarily directed to investing in public and private debt securities of and making term loans (including bridge and mezzanine debt) to issuers in a broad range of natural resource sectors, including energy, base and precious metals and other commodities, and issuers involved in exploration and development, and may also include financing other resource-related businesses and investing in public and private equity and quasi-equity securities. The Company seeks to generate income mainly from its lending activities, while taking advantage of additional upside through equity participation in the companies which it finances. Marret Asset Management Inc. is the Company's investment manager and is responsible for implementing Marret Resource Corp.'s investment strategy and managing its investment portfolio.
About Marret Asset Management Inc.
Marret Asset Management Inc. is the manager of the Company. Marret Asset Management and its experienced team of investment professionals led by Barry Allan specialize exclusively in fixed income and, particularly, in high yield debt strategies. Barry Allan, the President and Chief Investment Officer, founded Marret Asset Management in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank. Mr. Allan has over 30 years of experience in credit and fixed income markets.
Contact Information:
Marret Investor Services
416.214.5800