CALGARY, Sept. 1, 2016 /CNW/ - Softrock Minerals Ltd. ("SFT" or the "Corporation")(TSX Venture) announces the release of its interim financial results and Management Discussion and Analysis (MD&A) for the three and six month periods ended June 30, 2016 expressed in Canadian dollars.
This news release summarizes information contained in the unaudited interim condensed financial statements and MD&A for the three and six month periods ended June 30, 2016 and should not be considered a substitute for reading these full disclosure documents which are available on SEDAR at www.sedar.com or the Corporation's website at www.softrockminerals.com.
SFT is a natural resource company focused on the identification and development of oil, gas, potash and lithium.
SELECTED FINANCIAL DATA
| For 3 months ending June 30 | For six months ending June 30 |
| 2016 | 2015 | 2016 | 2015 |
Royalties (Oil) | $13,335 | $19,346 | $18,130 | $23,402 |
Expenses | $22,945 | $12,622 | $45,181 | $31,314 |
Net Income (Loss) | $(9,610) | $6,724 | $(27,051) | $(7,912) |
Assets |
|
| $149,486 | $189,982 |
Liabilities |
|
| $68,988 | $72,494 |
Shares Issued |
|
| 25,759,146 | 25,759,126 |
HIGHLIGHTS
- Company remains debt-free
- Company has obtained permission from the Alberta Government to recomplete a suspended Cardium oilwell in which it has a 47.5% in the Ferrier area of western Alberta
- Section 11 in the Charlie Lake oilfield of Northern Alberta on which the Company has a 2 and one-half percent GORR in the one well drilled so far on the lease is now totally surrounded on all four sides by oil producers, setting up the lease for at least 3 more wells
- Company is expanding its Lithium holdings in northern Alberta
- Management and the Board of Directors of SFT are continuing to focus on and pursue strategic alternatives for the Corporation. These include but are not limited to considering alternative financing methods and meeting with potential acquirers or merger partners
Neither the TSX Venture nor its Regulation Service Provider (as the term is defined in the policies of the TSX-V Exchange) accepts the responsibility for the accuracy or adequacy for this release.
SOURCE Softrock Minerals Ltd.
