TORONTO, Nov. 27 /CNW/ - Valucap Investments Inc. (V.H-NEX) ("Valucap") announces second quarter results for the period ended September 30, 2009 ("Q2"). Highlights of the Q2 results, which are expressed in Canadian Dollars, are:
- Valucap had a net loss of $101,162 on revenue of $17,500 in the first
six months of the current fiscal year compared to a loss of $213,453
with no revenue in the same period last year.
- The net loss for the three month period ended September 30, 2009 was
$58,710 on revenue of $17,500 compared to a loss of $101,931 with no
revenue for the same period last year.
- Valucap was graduated from the NEX trading board to the TSX Venture
exchange on September 4, 2009.
- The Company completed a private placement raising $490,000 in cash
and converting $483,503 in debt to equity.
- Valucap committed to an investment of $2.1-million in preferred
shares of a company. A total of $1,500,000 has been advanced to date.
"We had a very active and successful quarter where we moved forward on a number of our strategic initiatives." said Jeffrey Watts, President and Chief Executive Officer of Valucap. He added that, "We have continued to move aggressively to keep the momentum built in the second quarter."
Valucap's unaudited financial statements and related management's discussion and analysis ("MD&A") for Q2 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 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 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: Valucap Investments Inc.: Jeffrey S. Watts, President and Chief Executive Officer, Tel: (416) 364-2591, Email: email@example.com