Genterra Inc. reports second quarter financial results



    TSX Venture - "GIC" - Common

    TORONTO, May 28 /CNW/ - Revenues for the six month period ended March 31,
2009, decreased to $1,324,491 from $1,396,340 in the comparable 2008 period.
Net loss for the period was $22,398 compared to net earnings of $234,767 in
the comparable 2008 period. Loss per share for the period was $0.001 compared
with earnings per share of $0.011 in the comparable 2008 period.
    The Company recently announced that its directors have approved a
business combination by way of a proposed amalgamation with Consolidated
Mercantile Incorporated, a company whose shares are traded on the Toronto
Stock Exchange. The transaction is subject to the approval of shareholders of
both companies and the approval of the regulatory authorities.

    Genterra Inc. is a management and holding company whose assets include
rental real estate properties, equity investments and loans.

    "Safe Harbor" statement under the Private Securities Reform Act of 1995:
This release may contain forward-looking statements which reflect management's
current views of future events and operation. These forward-looking statements
are based on assumption and external factors, including assumptions relating
to product pricing, competitive market conditions, financial data and other
risks or uncertainties detailed from time to time in the Company's filings
with the Securities and Exchange Commission. These forward-looking statements
represent the Company's judgement as of the date of this release and any
changes in the assumptions or external factors could produce significantly
different results.

    
    Disclaimer: TSX Venture Exchange does not accept responsibility for the
    adequacy or accuracy of this release.
    





For further information:

For further information: Stan Abramowitz, Secretary, (416) 920-0500

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GENTERRA INC.

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