Sonor Investments Limited
TSX VENTURE : SNI.PR.A

August 17, 2016 14:47 ET

Sonor Investments Limited Reports Second Quarter Financial Results

TORONTO, ONTARIO--(Marketwired - Aug. 17, 2016) - Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its financial results for the six months ended June 30, 2016.

6 months ended June 30 3 months ended June 30
2016 2015 2016 2015
$000 $000 $000 $000
Revenue 4,366 441 4,180 204
Net Income 4,128 199 4,090 110

Michael Gardiner, Chairman and CEO, stated that as at June 30, 2016 the Company's assets totaled $61.1 million. These assets included $11.9 million of marketable securities, $35.6 million in a private investment and $13.5 million of cash and cash equivalents.

During the six months ended June 30, 2016, the Company realized $737,000 of net capital gains on the sale of investments compared to $184,000 of net capital gains during the six months ended June 30, 2015. During the three months ended June 30, 2016, Sonor realized $671,000 of net capital gains on the sale of investments compared to $75,000 of net capital gains during the corresponding period of the previous year. Revenue in fiscal 2016 included a dividend of $3,381,000 received in May, 2016 from Fairwater Capital Corporation. During fiscal 2015 a similar dividend was received in December, 2015.

During the period under review, the Company has maintained net assets and qualified investments in excess of the amounts prescribed under the share conditions pertaining to the First Preference Shares in its capital stock.

Sonor Investments Limited is an investment corporation located in Toronto, Canada. The First Preference Shares of Sonor trade on The TSX Venture Exchange under the symbol SNI.PR.A.

Neither the TSX Venture Exchange nor its Regulation Service 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

  • Mr. Michael Gardiner
    Chairman and CEO
    (416) 369-1499

    Mr. Stephen Mills
    Treasurer & CFO
    (416) 369-1499