TORONTO: C.A. Bancorp Inc. (the “Company”) is pleased to announce its financial results for the year ended December 31, 2006.
Highlights:
- On
January 26, 2006, the Company completed a transaction acquiring (a) all
net assets of Sentry Select Focused Wealth Management Fund in exchange
for 4,516,379 common shares and 4,516,379 common share purchase
warrants of the Company, and (b) all of the outstanding shares of C.A.
Bancorp Ltd. (“CABL”) (now a wholly-owned subsidiary of the Company)
and $9,874 due from Petro Assets Inc., the sole shareholder of CABL, in
exchange for 3,399,906 common shares and 3,399,906 common share
purchase warrants of the Company.
- In
September 2006, the Company completed an offering for Sentry Select
Total Strategy Fund, of which the Company is the manager. The offering
raised total gross proceeds of $55,000,000 issuing 5,500,000 units.
- In
December 2006, the Company completed a common share offering that
raised total gross proceeds of $38,751,177 through the issuance of
129,170,590 shares.
- The Company’s total assets as of December 31, 2006 were $38,015,410 (December 31, 2005 – $1,312,623).
- Since
the completion of the offering, the Company has begun to invest the
proceeds in a portfolio of publicly traded securities as part of its
strategy to invest and be involved, either directly or indirectly, in
catalyst or event driven opportunities. As of December 31, 2006, the
market value of all its portfolio investments was $4,193,121.
- In
2006, the Company has also made investments in the following publicly
traded companies: Charter Realty Holdings Ltd. (TSX-V: CRH), Universal
Infrastructure Corp. (TSX-V: UIC.P) and Global Alternative Investments
Inc. (TSX-V: GLI.P), all considered related entities to the Company by
virtue of similar ownership. The carrying value of these investments as
of December 31, 2006 was $653,026.
- In
2006, the Company had total revenue of $432,249 (2005 – $85,445),
comprised of asset management fees, interest and investment income and
realized gains on the sale of marketable securities.
- For
2006, the Company incurred total expenses of $1,729,149 (2005 –
$89,086), excluding the unrealized loss on marketable securities of
$439,304.
2006 financial results: For the complete 2006 Management's Discussion and Analysis, and Financial Statements please visit www.cabancorp.com or www.SEDAR.com.
C.A.
Bancorp Inc.: C.A. Bancorp Inc. is a merchant bank established to
provide investors with access to a range of private equity and other
investment opportunities typically available only to institutional and
high net worth investors. C.A. Bancorp is focused on investments,
either directly, or through entities managed and/or sponsored by C.A.
Bancorp, in public and private companies across a broad range of
industries.
More information :
Mark Gardhouse, President or Paolo De Luca, Chief Financial Officer
1-866-388-5985
Fax: 416-364-2398
info@cabancorp.com
www.cabancorp.com The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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