SKANA Capital Corp.
TSX VENTURE : SKN

February 28, 2011 18:46 ET

SKANA Reports Financial Results for the Nine-Month Period Ended December 31, 2010

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2011) - SKANA Capital Corp. (TSX VENTURE:SKN) ("SKANA") announces release of its unaudited interim consolidated financial statements. For the quarter ended December 31, 2010, SKANA had consolidated net earnings of $931,454 ($0.02 basic and diluted earnings per common share) compared to consolidated net earnings of $256,684 ($Nil basic and diluted earnings per common share) for the comparative quarter. For the nine-month period ended December 31, 2010, the Company had consolidated net earnings of $7,383,569 ($0.14 basic and diluted earnings per common share) compared to consolidated net loss of $762,600 ($0.01 basic and diluted loss per common share) for the comparative period.

As at December 31, 2010, SKANA had cash and cash equivalents of $10,931,030 and carried its marketable securities at fair value of $16,863,231. SKANA maintains all of its cash and cash equivalents with Schedule A banks.

SKANA's unaudited interim consolidated financial statements and management discussion and analysis ("MD&A") for the nine-month period ended December 31, 2010 have been filed on SEDAR and are available for download at www.sedar.com.

About SKANA Capital Corp.

SKANA is listed on the TSX Venture Exchange as an Investment Issuer and carries on business as a merchant bank. It makes strategic investments in resource-based and other opportunities that it believes have significant potential for appreciation through its financial involvement and guidance.

Neither the TSX Venture Exchange nor its Regulation Services 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

  • SKANA Capital Corp.
    Greg Clarkes
    Chairman
    (604) 669-4899