Safety First Savings & Mortgage Corp.

September 10, 2008 13:44 ET

Safety First Announces Restatement of 2008 Interim Financials

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2008) - Safety First Savings & Mortgage Corp. announces that, after consultation with its auditors, Nordahl Craig Cummings & Gares, it will be restating its interim financial statements for the period ended March 31, 2008.

The restatement will address a technical accounting error that affects the Allowance for Future Mortgage Losses. Safety First anticipates that the restatement will result in a reduction of this Allowance and an increase in Revenue for the period.

Safety First expects to file its restated financial statements and an amended Management Report of Fund Performance on SEDAR by Monday, September 15th at the latest.

Contact Information

  • Safety First Savings & Mortgage Corp.
    Dan McFaull
    Chief Executive Officer
    (604) 925-0112