TORONTO, June 28 /CNW/ - Energentia Resources Inc. (TSXV: ENR) announced
today results for the three month period ended April 30, 2007, reporting a
loss of $3.8 million or $0.08 per share. The loss principally reflects the
impact of non-cash stock-based compensation expense for the initial allotment
of options to directors, officers and consultants following the acquisition of
Lerida Bay Ltd. and the $19.0 million private placement financing, in addition
to one-time acquisition and interest costs expensed during the quarter. There
was no activity in the comparative prior period. As at April 30, 2007, the
Company had cash and cash equivalents of $15.1 million.
The Company has commenced stream sediment and rock sampling on its
Colombian uranium concessions as well as geophysical radiometrics readings to
help it determine its drilling plan, expected to be announced later in 2007.
Complete Financial Statements and Management's Discussion and Analysis
are available on SEDAR at www.sedar.com.
Energentia is a uranium exploration and development company with
interests in a number of uranium exploration properties located in Colombia.
This press release contains forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
Actual results may differ materially from those currently anticipated.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Important factors that could cause actual results to differ
materially from those expressed or implied by such forward looking statements
are detailed from time to time in the company's periodic reports filed with
the British Columbia Securities Commission and other regulatory authorities.
The company has no intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
For further information:
For further information: Peter Volk, General Counsel & Secretary, (416)