Sonor Investments Limited Reports Second Quarter Financial Results

Marketwired

TORONTO, ONTARIO--(Marketwire - Aug. 23, 2012) - Sonor Investments Limited (SNI-PA.V) today reported its financial results for the six months ended June 30, 2012.

6 months ended June 30 3 months ended June 30

2012 2011 2012 2011

$000 $000 $000 $000

------------------------------------------------------------

Revenue 1,103 355 277 177

Net Income 853 101 174 57

------------------------------------------------------------

------------------------------------------------------------

------------------------------------------------------------

Michael Gardiner, President and Chief Executive Officer, stated that as at June 30, 2012 the Company's assets totaled $55.7 million. These assets included $12.4 million of marketable securities, $35.6 million in a private investment and $7.6 million of cash and cash equivalents.

During the six months ended June 30, 2012, the Company realized net capital gains of $825,000 on the sale of investments compared to net capital gains of $62,000 during the six months ended June 30, 2011. During the three months ended June 30, 2012, Sonor realized net capital gains of $110,000 on the sale of investments compared to no capital gains or losses during the corresponding period of the previous year.

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.

The financial statements for the periods ending June 30, 2012 incorporate the International Financial Reporting Standards ("IFRS") required by financial regulators in Canada commencing January 1, 2011. This transition to IFRS has little impact on the Company's operating results.

Sonor Investments Limited is an investment corporation 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.

Contact:
Mr. Michael Gardiner
Sonor Investments Limited
President and CEO
(416) 369-1499

Mr. Stephen Mills
Sonor Investments Limited
Treasurer & CFO
(416) 369-1499

View Comments (0)