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CBi2 Capital Reports Quarter-Ended June 30, 2019 Financial Results

CALGARY, Alberta, Aug. 28, 2019 (GLOBE NEWSWIRE) -- (TSXV/CSE:TCI) Target Capital Inc. d.b.a. CBi2 Capital (“CBi2” or the “Company”) is pleased to provide a summary of its financial results for the financial quarter ended June 30, 2019.

Selected financial information is outlined below and should be read in conjunction with the Company’s audited consolidated financial statements and management’s discussion and analysis for the financial quarter ended June 30, 2019, which are available on SEDAR at www.sedar.com and the Company’s website at www.cbi2.com.

Financial Highlights

The following table summarizes key financial highlights associated with the Company’s financial performance.

  June 30, 2019
$000s
  June 30, 2018
$000s
Revenues 175   112
Expenses 196   362
Net Loss 21   250
Total Assets 3,405   3,439
Total Liabilities 111   156
Total Shareholders’ Equity 3,294   3,283
       

The Company also announces the appointment of Colin Wagner as CFO, replacing David Cheadle effective August 1, 2019. The Company thanks Mr. Cheadle for his contributions to the Company.

About CBi2 Capital

Target Capital Inc. d.b.a. CBi2 Capital, is a Calgary, Alberta based company executing on a cannabis focused investment strategy, where it intends to develop and manage a diversified portfolio of predominantly early stage cannabis investment opportunities. The Company’s common shares are listed on the TSX Venture Exchange and the Canadian Securities Exchange under the trading symbol “TCI”.

For additional information please contact:

Sonny Mottahed
President and Chief Executive Officer

Phone: 403.351.1779
Email: info@cbi2.com

Forward-Looking and Cautionary Statements

This news release may include forward-looking statements including the Company’s objectives, opinions and assumptions. When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements.

The forward-looking statements are founded on the basis of expectations and assumptions made by the Company. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized.

Any number of important factors could cause actual results to differ materially from those in the forward -looking statements including, but not limited to: regulatory and third party approvals not being obtained in the manner or timing anticipated; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.

Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.

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