TORONTO, Aug. 6 /CNW/ - Valucap Investments Inc. (V.H-NEX) ("Valucap")
announces first quarter results for the period ended June 30, 2009 ("Q1").
Highlights of the Q1 results, which are expressed in Canadian Dollars, are:
- Valucap had other income of $1,229 in the first three months of the
current fiscal year from interest on a loan receivable.
- Valucap's expenses decreased to $43,690 and net loss to $42,461 in
the first quarter of fiscal 2010 compared to $111,522 in expenses and
losses in the same period last year. These expenses and losses were
incurred in raising funds and reviewing potential investments in
order to commence investing activities, and were funded by an
increase in accounts payable and a short term loan.
"We have made the filings for and are awaiting the required regulatory
approvals to graduate from the NEX to the TSX Venture Exchange Tier 2." said
Jeffrey Watts, President and Chief Executive Officer of Valucap. He added
that, "While it has been slower than expected, we are making real progress in
executing our strategy while being judicious in our selection process."
Valucap's unaudited financial statements and related management's
discussion and analysis ("MD&A") for Q1 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
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 NEX.
Valucap has filed an application for the common shares of Valucap to graduate
to Tier 2 of 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 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.
For further information:
For further information: Valucap Investments Inc.: Jeffrey S. Watts,
President and Chief Executive Officer, Tel: (416) 364-2591, Email: