Sonor Investments Limited Reports Financial Results for the Year Ended December 31, 2023 and Three Months Ended March 31, 2024
April 23 2024 - 11:53AM
Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its
financial results for the year ended December 31, 2023 and the
three months ended March 31, 2024.
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Year ended December
31 |
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3 months ended March
31 |
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2023$000 |
2022$000 |
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2024$000 |
2023$000 |
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| Revenue |
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5,322 |
3,504 |
|
614 |
582 |
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| Net Income (loss) |
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4,592 |
3,023 |
|
261 |
419 |
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Michael Gardiner, Chairman and CEO, stated that
as at March 31, 2024, the Company’s assets totaled $70.8 million
compared to $70.4 million as at December 31, 2023. These assets as
at March 31, 2024 included $26.3 million of marketable securities,
$35.6 million in a private investment and $8.9 million of cash and
cash equivalents.
During the year ended December 31, 2023, the
Company realized $53,000 in net capital gains on the sale of
investments and recorded no impairments on its security
investments. This compares to net capital gains of $1,076,000 on
the sale of investments during the year ended December 31, 2022.
During the three months ended March 31, 2024, the Company realized
capital gains on the sale of investments of $42,000 and recorded a
decrease in unrealized gains of $160,000.
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 Company announces that a semi-annual
eligible dividend of $0.225 per share on the Company’s 9% First
Preference Shares has been declared payable on September 16, 2024
at a meeting of its Board of Directors. The dividend will be paid
to shareholders of record at the close of business on September 2,
2024.
Sonor Investments Limited 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.
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.
Company Contacts:
| Mr. Michael Gardiner |
|
Ms. Rosabell Chung Hun |
| Chairman & CEO |
|
Treasurer & CFO |
| (416) 369-1499 |
|
(416) 369-1499 |