TORONTO, Aug. 23 /CNW/ - Valucap Investments Inc. (V.H-NEX) ("Valucap") announces results for its first quarter ended June 30, 2010. Highlights of the quarterly results, which are expressed in Canadian Dollars, are:
- Valucap had a net loss of $308,763 on revenue of $15,000 in the year
compared to a loss of $42,461 with no revenue in the same period last
- 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"),
- Valucap completed a private placement on April 1, 2010 raising
$500,000 in cash.
- In the quarter, Valucap advanced the final $150,000 of its $2.1-
million preferred share investment in 80/20. Subsequent to June 30,
2010 Valucap converted receivables from 80/20 into 371,429 preferred
shares of 80/20 representing holdings of approximately 37%.
"Our emphasis for the current year is to help 80/20 reach its potential and to identify and acquire additional companies," 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 its detailed results and MD&A. The MD&A provides an analysis of comparisons with previous periods, trends affecting Valucap's 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 statements.
Neither the 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 further information: please contact Valucap Investments Inc.: Jeffrey S. Watts, President and Chief Executive Officer, Tel: 1 (416) 364-2591, Email: email@example.com