June 12, 2008 20:10 ET

Option-NFA Inc. Reports First Quarter Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2008) - Option-NFA Inc. (TSX VENTURE:OPN) (the "Company") announces results for the period ending March 31, 2008.

In December, 2007, the Company completed the sale of substantially all of its assets and undertakings together with its wholly-owned subsidiaries to Option Snowboards (2007) Inc., a company wholly-owned and controlled by one of the Company's directors, Blair Murdoch (the "Purchaser"), in consideration of $1.00 and the purchaser's assumption of substantially all of the current liabilities of the Company. Reference is made to the News Release dated January 22, 2008.

As a result, the Company has no current assets or operations. During the quarter, the Company had no earnings and costs were reduced significantly. The Company incurred a loss of $7,783 during the quarter.

The information herein contained should be read in conjunction with the Consolidated Financial Statements and Management Discussion and Analysis for the period ended March 31, 2008, available at www.sedar.com. These statements have not been reviewed by the auditors of the Company.

About Option-NFA Inc.

At this time the Company has no active business or assets and had liabilities consisting of shareholder loans and accrued interest. Management is pursuing other business opportunities for the Company. However, there can be no assurance that it will be able to successfully acquire or enter into another business. Any such acquisition or business activities will be subject to acceptance for filing by regulatory authorities.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Option-NFA Inc.
    Steve Dewar
    President & CEO
    (604) 255-5594 ext. 121