Mr. Michael Gardiner reports
SONOR INVESTMENTS LIMITED REPORTS THIRD QUARTER FINANCIAL RESULTS
Sonor Investments Ltd. has released its financial results for the nine months ended Sept. 30, 2017.
(in thousands of dollars)
Nine months ended Sept. 30 Three months ended Sept. 30
2017 2016 2017 2016
Revenue $4,895 $4,863 $ 117 $ 497
Net income (loss) 4,510 4,483 (22) 355
Michael Gardiner, chairman and chief executive officer, stated that as at Sept. 30, 2017, the company's assets totalled $65.8-million. These assets included $10.5-million of marketable securities, $35.6-million in a private investment, and $19.7-million of cash, cash equivalents and short-term investments.
During the nine months ended Sept. 30, 2017, the company realized $1,102,000 of net capital gains on the sale of investments. In the comparable period for 2016, the company realized $1,095,000 of net capital gains on the sale of investments. During the three months ended Sept. 30, 2017, there were no capital gains compared with $358,000 of net capital gains on the sale of investments during the three months ended Sept. 30, 2016.
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 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.
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