TORONTO, Jan. 23, 2012 /CNW/ - Genterra Capital Inc. (TSX Venture -
"GIC" - Common)
Revenues for the year ended September 30, 2011 increased to
approximately $3.2 million from $1.3 million in the preceding 2010
period. Net Earnings for the year were $217,390 compared to a Net Loss
of $519,069 in the preceding year. Earnings per share for the year was
$0.02 compared with a loss per share of $0.07 in the preceding 2010
period. Current year earnings include a gain on the sale of a rental
real estate property of $473,895.
The 2010 results of operations for the Corporation are for the nine
month period ended September 30 and include the pre-amalgamation
results of Consolidated Mercantile Incorporated and the revenues and
expenses associated with the acquired assets from Consolidated
Mercantile Incorporated's May 10, 2010 amalgamation with Genterra Inc.
Capitalizing on favourable market conditions, subsequent to the
year-end, the Company successfully completed a $6 million 3.29% first
mortgage refinancing of our Wendell Property.
Mark I. Litwin, previously the Company's Executive Vice-President, has
been appointed as President and CEO. Fred A. Litwin remains on as
Chairman of the Board of Directors.
Genterra Capital Inc. is a management and holding company whose assets
include rental real estate properties and investments.
Disclaimer: TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
SOURCE Genterra Capital Inc.
For further information:
Stan Abramowitz, Secretary