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Sonor Investments Limited Reports Third Quarter Financial Results

/EIN News/ -- TORONTO, Nov. 15, 2019 (GLOBE NEWSWIRE) -- Sonor Investments Limited today reported its financial results for the nine months ended September 30, 2019.

                 
  9 months ended September 30
3 months ended September 30
  2019   2018   2019   2018  
  $000   $000   $000   $000  
                 
Revenue 4,575   3,823   460   225  
                 
Net Income (loss) 4,132   3,428   300   65  
                 
                 

Michael Gardiner, Chairman and CEO, stated that as at September 30, 2019 the Company’s assets totaled $69.6 million.  These assets included $8.6 million of marketable securities, $35.6 million in a private investment and $25.4 million of cash, cash equivalents and short term investments.

During the nine months ended September 30, 2019, the Company realized $124,000 of net capital gains on the sale of investments.  In the comparable period for 2018 the Company realized $872,000 of net capital gains on the sale of investments. During the three months ended September 30, 2019 there were $98,000 in capital gains compared to $66,000 in capital gains on the sale of investments during the three months ended September 30, 2018.

During the period under review, the Company has maintained net assets and qualified investments in excess of the amounts prescribed under the share conditions pertaining to the First Preference Shares in its capital stock.

Sonor Investments Limited is an investment company located in Toronto, Canada.  The First Preference Shares of Sonor trade on The TSX Venture Exchange under the symbol SNI.PR.A.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Company Contacts:

Mr. Michael Gardiner Ms. Rosabell Chung Hun
Chairman and CEO Treasurer & CFO
(416) 369-1499 (416) 369-1499