SKANA Capital Corp.
TSX VENTURE : SKN

November 24, 2010 18:47 ET

SKANA Reports Financial Results for the Six-Month Period Ended September 30, 2010

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 24, 2010) - SKANA Capital Corp. (TSX VENTURE:SKN) ("SKANA") announces release of its unaudited interim consolidated financial statements. For the quarter ended September 30, 2010, SKANA had a consolidated income of $3,066,880 ($0.06 basic and diluted earnings per common share) compared to consolidated loss of $720,224 ($0.01 basic and diluted loss per common share) for the comparative quarter. For the six-month period ended September 30, 2010, the Company had a consolidated income of $6,452,115 ($0.12 basic and diluted earnings per common share) compared to consolidated loss of $1,019,284 ($0.02 basic and diluted loss per common share) for the comparative period.

As at September 30, 2010, SKANA had cash and cash equivalents of $9,400,406 and carried its marketable securities at fair value of $15,066,787. 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 six-month period ended September 30, 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