TORONTO, May 25, 2011 /CNW/ - Genterra Capital Inc. (TSXV: "GIC")
As previously announced, effective May 10, 2010 Consolidated Mercantile
Incorporated ("CMI") and Genterra Inc. ("Genterra") amalgamated to form
Genterra Capital Inc. ("GCI"). Net income for the six months ended
March 31, 2011 was $519,050 compared to a net loss of $36,877 in the
2010 period. The 2011 results include a gain on sale of a rental real
estate property during the current quarter of $473,895. Earnings per
share for the period were $0.05 compared to $0.00 in the 2010 period.
As CMI was identified as the acquirer, the results of operations for the
six months ended March 31, 2011 include the operations of the combined
entity, while the results for the six months ended March 31, 2010
include the results for CMI only.
Genterra Capital Inc. is a management 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 Forum Financial Corporation
For further information:
Stan Abramowitz, Secretary