TORONTO, July 30 /CNW/ - Valucap Investments Inc. (V.H-NEX) ("Valucap") announces results for the year ended March 31, 2010. Highlights of the year end results, which are expressed in Canadian Dollars, are:
- Valucap had a net loss of $553,445 on revenue of $47,500 in the year
compared to a loss of $468,316 with no revenue in the same period
- The loss in the current year included a charge for Valucap's share of
the losses of its investee company of $275,286.
- The Company completed two private placements during the year raising
$1,070,000 in cash and converted debt and payables totalling $590,125
into equity. A third private placement was closed on April 1, 2010
- In the year ended March 31, 2010, Valucap advanced $1,950,000 of its
$2.1-million preferred share investment in its investee company. An
additional $150,000 was advanced in April 2010 for a total of
"In our first full year of executing on our strategy we have demonstrated an ability to raise funds for strategic investments. We have also proven that a strategy combining investment funds with management is effective. We look forward to rolling this strategy out in other investments as we move forward." 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 year 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: 1 (416) 364-2591, Email: firstname.lastname@example.org