New Pacific Reports Financial Results for the Year Ended June 30, 2016
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/15/16 -- New Pacific Holdings Corp. (TSX VENTURE: NUX) ("New Pacific" or the "Company") today announced its audited consolidated financial results for the year ended June 30, 2016.
This earnings release should be read in conjunction with the Company's Management Discussion & Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on SEDAR at and are also available on the Company's website at . All figures are expressed in Canadian Dollars (CAD) unless otherwise stated.
FISCAL YEAR 2016 HIGHLIGHTS
FISCAL 2016 vs. FISCAL 2015
For the year ended June 30, 2016 ("Fiscal 2016"), net loss attributable to equity holders was $118,167 or $0.00 per share compared to net income of $1,739,248 or $0.03 per share for the year ended June 30, 2015 ("Fiscal 2015"). Excluding non-cash impairment loss of mineral property interests, adjusted net income attributable to equity holders was $3,039,114 or $0.05 per share in Fiscal 2016 compared to $1,915,149 or $0.03 per share in Fiscal 2015.
In Fiscal 2016, the Company's financial results were significantly improved as a result of the transition in the company's business away from mining. Major items impacting financial performance are as follows:
As at June 30, 2016, the Company had working capital of $21,816,903 (June 30, 2015 - $22,364,687), comprised of cash and cash equivalents of $5,267,066 (June 30, 2015 - $14,851,828), bonds of $17,201,630 (June 30, 2015 -$8,826,997) and other current assets of $138,547 (June 30, 2015 - $129,260) offset by current liabilities of $790,340 (June 30, 2015 - $1,443,398). Management believes that the Company has sufficient funds to support its normal investing and operating requirement on an ongoing basis.
FOURTH QUARTER FINANCIAL SUMMARY
For the quarter ended June 30, 2016, the Company reported net loss attributable to equity holders of $1.76 million or $0.03 per share, compared to net loss of $0.8 million or $0.01 per share in the same prior year period. Excluding the non-cash impairment loss on mineral property interests, adjusted net income attributable to equity holders for Q4 Fiscal 2016 was $1.4 million or $0.02 per share compared to adjusted net loss of $0.6 million or $0.01 per share for Q4 Fiscal 2015.
Investment income in Q4 Fiscal 2016 consists of $1.24 million unrealized gain on equity investments and $0.28 million from fair value change and interest earned on bonds.
ABOUT NEW PACIFIC
New Pacific is a Canadian Investment Issuer engaged in investing in privately held and publicly traded corporations.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain of the statements and information in this press release constitute "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk loss of key personnel; conflicts of interest; dependence on management and others.
This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form for the year ended June 30, 2016 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
Contacts:
New Pacific Holdings Corp.
Jalen Yuan
Chief Financial Officer
(604) 633-1368
(604) 669-9387 (FAX)
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Datum: 15.09.2016 - 20:30 Uhr
Sprache: Deutsch
News-ID 495114
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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