Halmont Properties Corporation: News Release T
Post# of 301275
TORONTO, Nov. 29, 2017 (GLOBE NEWSWIRE) -- HALMONT PROPERTIES CORPORATION (TSX-V: HMT) announced today that the net income to common shareholders for the nine months ended September 30, 2017 was $1,266,000 as compared to net income of $1,036,000 for the nine months ended September 30, 2016.
| Nine months ended | |||||
| (in thousands except per share amounts) | September 30, 2017 | September 30, 2016 | |||
| Revenue | $ | 3,969 | $ | 3,266 | |
| Net income - total | $ | 1,590 | $ | 1,559 | |
| - for common shareholders | $ | 1,266 | $ | 1,036 | |
| Net income per share for common shareholders | 1.63 ¢ | 1.38 ¢ | |||
During the quarter, Halmont completed the acquisition of an additional 6% common share equity interest in Haliburton Forest & Wild Life Reserve in exchange for 6,200,000 Class A common shares to increase our ownership interest to 30%.
Subsequent to September 30, 2017, Halmont exercised its rights to exchange its interest in the Haliburton Forest Fund for Participating Preferred Shares of Haliburton Forest and Wildlife Reserve Limited.
The book value of each common share, based on the Company’s December 31, 2016 IFRS appraisals and including the net income earned for the nine months ending September 30, 2017 is 46¢ per share.
This news release includes certain forward looking statements including management’s assessment of the Company’s future plans and operations based on current views and expectations. All statements other than statements of historic facts are forward looking statements. These statements contain substantial known and unknown risks and uncertainties, some of which are beyond the Company’s control. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements. Readers should not place undue reliance on these forward looking statements which represent estimates and assumptions only as of the date on which such statements are made. The Company undertakes no obligation to publicly revise or update any forward looking statements, whether as a result of new information, future events or otherwise.
For additional information: Halmont Properties Corporation Heather M. Fitzpatrick 51 Yonge Street, Suite 400 President Toronto, ON M5E 1J1 Telephone: 647-448-7147
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