Aberdeen International Inc. (TSX: AAB, FR: A8H, OTC: AABVF) Reports Results for the Nine Months Ended October 31, 2022
December 15 2022 - 8:00AM
Aberdeen International Inc. (“
Aberdeen” or the
“
Company”) (TSX: AAB, F: A8H, OTC: AABVF) is
pleased to announce that it has released its financial results for
the nine months ended October 31, 2022.
For the nine months ended October 31, 2022,
Aberdeen reported a net loss of $7.3 million or $0.05 per basic
share from total revenue of $(3.6) million (realized loss on
investments of $4.1 million, unrealized gains on investments of
$0.4 million and interest income of $0.1 million). For the nine
months ending October 31, 2021, Aberdeen reported net income of
$7.4 million or $0.05 per basic share from total revenue of $11.7
million (realized gain on investments of $5.0 million, unrealized
gains on investments of $6.5 million and interest income of $0.2
million).
Market conditions remain challenging and the
portfolio remains heavily invested in early-stage companies,
largely in the natural resources and clean energy sectors – sectors
that are thematically important as the world seeks to secure
critical materials for a growing population while concurrently
transitioning to a lower-carbon energy mix. Despite the
significance of these themes and the Company’s exposure to them,
early-stage investment valuations have been pressured amidst a
global risk-off environment, driven by inflationary concerns and
monetary policy actions being taken by central banks, amongst other
factors.
“Clean tech and sustainable agriculture continue
to be Aberdeen’s largest exposures and we continue to actively seek
opportunities to drive value for shareholders during a challenging
time for companies that are early on in their lifecycle. We remain
focused on supporting operational execution of our portfolio
companies and anticipate that our efforts will pay off when markets
eventually turn the corner,” said Chris Younger, CEO of
Aberdeen.
The Company continues to focus on the transition
to an economy fuelled by clean energy, seeking attractive
investment opportunities and strategic partners that can drive even
greater portfolio value.
ABOUT ABERDEEN INTERNATIONAL
INC.
Aberdeen International is a global resource
investment company and merchant bank focused on small
capitalization companies in the rare metals , clean energy and
renewable energy sectors.
For additional information, please visit our
website at www.aberdeen.green
For further information, please contact:
Chris Younger Chief Executive Officer Aberdeen
International Inc. Chris.Younger@aberdeen.green (416) 861-1685
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding the investment portfolio of the
Company; financial results; the battery metals, clean energy and
renewable energy sectors and the Company’s future plans.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including risks inherent in the clean
energy and natural resources industry and risks described in the
public disclosure of the Company which is available under the
profile of the Company on SEDAR at www.sedar.com and on the
Company's website at www.aberdeen.green. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
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