Sonor Investments Limited Reports Financial Results for the Year Ended December 31, 2022 and Three Months Ended March 31, 2023

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During the year ended December 31, 2022, the Company realized $1,076,000 in net capital gains on the sale of investments and recorded no impairments on its security investments.

Metadata

Provider:

GlobeNewswire, Inc.

Retrieved on:

Tuesday, April 25, 2023

Information

Tags:

TSX Venture Exchange, Investment, Demand, Sale, Cryptocurrency, Security (finance), Mining, Sonor

Geotags:

TORONTO, ON, CA, CANADA

⚠ partially generated by AI ↴

Organisation:

SONOR INVESTMENTS, SONOR INVESTMENTS LIMITED

Summary

Key Points:

During the year ended December 31, 2022, the Company realized $1,076,000 in net capital gains on the sale of investments and recorded no impairments on its security investments.
This compares to net capital gains of $372,000 on the sale of investments during the year ended December 31, 2021.
During the three months ended March 31, 2023, the Company realized no capital gains on the sale of investments and recorded an increase in unrealized gains of $583,000.
The dividend will be paid to shareholders of record at the close of business on September 1, 2023.

TORONTO, April 25, 2023 (GLOBE NEWSWIRE) -- Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its financial results for the year ended December 31, 2022 and the three months ended March 31, 2023.

	Year ended December 31		3 months ended March 31

	2022	2021	2023	2022
	$000	$000	$000	$000

Revenue	3,504	6,665	582	726

Net Income (loss)	3,023	5,938	419	562

Michael Gardiner, Chairman and CEO stated that as at March 31, 2023, the Company’s assets totaled $69.4 million compared to $69 million as at December 31, 2022. These assets as at March 31, 2023 included $22.3 million of marketable securities, $35.6 million in a private investment and $11.5 million of cash and cash equivalents.

During the year ended December 31, 2022, the Company realized $1,076,000 in net capital gains on the sale of investments and recorded no impairments on its security investments. This compares to net capital gains of $372,000 on the sale of investments during the year ended December 31, 2021. During the three months ended March 31, 2023, the Company realized no capital gains on the sale of investments and recorded an increase in unrealized gains of $583,000.

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 15, 2023 at a meeting of its Board of Directors. The dividend will be paid to shareholders of record at the close of business on September 1, 2023.

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