Mr. Christopher Way reports

CANAF ANNOUNCES FINANCIAL RESULTS FOR Q1 2024

Canaf Investments Inc. has released its financial statements and management discussion and analysis for the three-month period ended Jan. 31, 2024.

Revenue for the quarter was recorded at $9,616,272 (2023: $6,541,213) with a net income of $476,810 (2022: $439,160) and an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $525,381. The results reflect a 12-month trailing earnings per share at Jan. 31, 2024, of 6.3 cents per share.

As at Jan. 31, 2024, shareholder equity stood at $9.2-million, which relates to a book value per share of 19.5 cents per share (Jan. 31, 2023: 15.9 cents per share).

About Canaf Investments Inc.

Canaf owns 100 per cent of Quantum Screening and Crushing Pty. Ltd., a South African company that owns 70 per cent of Southern Coal Pty. Ltd., a company that produces a high carbon, devolatized (calcined) anthracite.

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