TORONTO, Jan. 29 /CNW/ - Valucap Investments Inc. (V.H-NEX) ("Valucap") announces third quarter results for the period ended December 31, 2009 ("Q3"). Highlights of the Q3 results, which are expressed in Canadian Dollars, are:
- Valucap had a net loss of $145,412 on revenue of $32,500 in the first
nine months of the current fiscal year compared to a loss of $343,412
with no revenue in the same period last year.
- The net loss for the three month period ended December 31, 2009 was
$44,250 on revenue of $15,000 compared to a loss of $129,959 with no
revenue for the same period last year.
- The Company completed a private placement raising $580,000 in cash.
- In the quarter ended December 31, 2009, Valucap advanced an additional
$150,000 on its investment in preferred shares of a company for a
total of $1,500,000.
"As our initial investment progresses according to plan we are assessing additional investments in strategic industry sectors." said Jeffrey Watts, President and Chief Executive Officer of Valucap. "Our business model of providing management along with capital is a key to our success in the current market."
Valucap's unaudited financial statements and related management's discussion and analysis ("MD&A") for Q3 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: please contact Valucap Investments Inc.: Jeffrey S. Watts, President and Chief Executive Officer, Tel: (416) 364-2591, Email: email@example.com