TORONTO, Feb. 22 /CNW/ - Valucap Investments Inc. (V.H-NEX) ("Valucap") announces results for its nine month period ended December
31, 2010. Highlights of the quarterly results, which are expressed in
Canadian Dollars, are:
Valucap had a net loss of $598,300 on revenue of $45,000 in the year
compared to a loss of $145,412 on revenue of $32,500 in the same period
The loss in the current year included a charge for Valucap's share of
the losses of its investee company, 80/20 Solutions Inc, ("80/20") of
The Company completed a private placement on April 1, 2010 raising
$500,000 in cash.
In the quarter, Valucap converted receivables from 80/20 into 371,429
convertible preferred shares of 80/20 bringing the Company's holdings
of 80/20 to approximately 37%.
On November 30, 2010 Valucap invested $513,200 for a 6% interest in
Baanto International Ltd..
Subsequent to December 31, 2010 the Company made a $150,000 investment
in Bee Media Inc. and acquired an option to purchase 23% of Elliptic
"Valucap is moving forward in its strategy with additional investments
in private companies with high growth potential. This is a further
execution of our strategy of private investments by a public company."
said Jeffrey Watts, President and Chief Executive Officer of Valucap.
Valucap's audited financial statements and related management's
discussion and analysis ("MD&A") for the quarter are available to the
public at www.sedar.com and the highlights in this release should be
read in conjunction with the detailed results and MD&A. The MD&A
provides an analysis of comparisons with previous periods, trends
affecting the business and risk factors.
Valucap is an investment issuer and is interested in making investments
in emerging technologies and markets. Valucap intends to become a
leading small cap Canadian equity company that specializes in investing
in commercialized and undercapitalized companies that have high growth
potential. Specifically, Valucap seeks to generate above average
investment returns on its capital by providing "transaction driven"
growth capital to micro and small cap companies which operate within
preferred industry sector classifications. The common shares of
Valucap are currently listed on the TSX Venture Exchange.
This press release includes certain "Forward-Looking Statements." All
statements, other than statements of historical fact, included herein,
including without limitation, statements regarding future plans and
objectives of Valucap, are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
Neither 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.
SOURCE Valucap Investments Inc.
For further information:
For additional information please contact Valucap Investments Inc.:
|Jeffrey S. Watts|
President and Chief Executive Officer
Tel: 1 (416) 364-2591