Sonor Investments Limited

November 27, 2012 11:03 ET

Sonor Investments Limited Reports Third Quarter Financial Results

TORONTO, ONTARIO--(Marketwire - Nov. 27, 2012) - Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its financial results for the nine months ended September 30, 2012.

9 months ended September 30 3 months ended September 30
2012 2011 2012 2011
$000 $000 $000 $000
Revenue 1,227 1,314 124 959
Net Income (loss) 820 904 (33) 803

Michael Gardiner, President and Chief Executive Officer, stated that as at September 30, 2012 the Company's assets totaled $55.9 million. These assets included $12.6 million of marketable securities, $35.6 million in a private investment and $7.7million of cash and cash equivalents.

During the nine months ended September 30, 2012, the Company realized net capital gains of $825,000 on the sale of investments. In the comparable period for 2011 there were net capital gains of $869,000. During the three months ended September 30, 2012, Sonor realized no capital gains or losses on the sale of investments compared to net capital gains of $807,000 during the corresponding period of the previous year.

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.

The financial statements for the periods ending September 30, 2012 incorporate the International Financial Reporting Standards ("IFRS") required by financial regulators in Canada commencing January 1, 2011. This transition to IFRS has little impact on the Company's operating results.

Sonor Investments Limited is an investment company 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

  • Sonor Investments Limited
    Mr. Michael Gardiner
    President and CEO
    (416) 369-1499

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