CBi2 Capital Announces First Quarter Financial Results

CALGARY, Aug. 31, 2018 /CNW Telbec/ - (TSXV:TCI) (CSE:TCI) Target Capital Inc. d.b.a. CBi2 Capital ("CBi2" or the "Corporation") is pleased to provide a summary of its financial results as of June 30, 2018.

Selected financial information is outlined below and should be read in conjunction with the Corporation's unaudited consolidated financial statements ("Financial Statements") and management's discussion and analysis ("MD&A") for the three month period ended June 30, 2018, which are available on SEDAR at www.sedar.com and the Corporation's website at www.cbi2.com.

Financial Highlights

The following table summarizes key financial highlights associated with the Corporation's financial performance for the quarter ended June 30, 2018.

 


June 30, 2018
$000s


June 30, 2017
$000s

Revenues

112



128


Expenses

361



117


Net Earnings (Loss)

(249)



2


Total Assets

3439



928


Total Liabilities

156



1,547


Total Shareholders' Equity (Deficit)

3283



(620)


 

The past year has been transformative for the Corporation. The transactions that were completed had a significant impact on the comparability of the Corporation's period over period results. See the Financial Statements and MD&A for further details.

About CBi2 Capital

Target Capital Inc., d.b.a. CBi2 Capital, is a Calgary, Alberta based company engaged in making strategic investments in private companies, including small start‐up operations and land development companies. The Corporation's common shares are listed on the TSX Venture Exchange and the Canadian Securities Exchange under the trading symbol "TCI". CBi2 is executing on a cannabis-focused investment strategy, where it intends to develop and manage a diversified portfolio of predominantly early stage cannabis investment opportunities. CBi2 will explore and invest in a number of strategic investment opportunities in the medical and recreational cannabis industry and in businesses offering ancillary supportive products and services.

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 Corporation. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Corporation 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 Corporation with securities regulatory authorities.

Except as required by applicable laws, the Corporation 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.

 

SOURCE Target Capital Inc.

View original content: http://www.newswire.ca/en/releases/archive/August2018/31/c7477.html

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