Canaf Announces Financial Results for Q1 2024

Rhea-AI Summary

Canaf Investments Inc. (TSXV: CAF) reports strong financial performance for the 3-month period ended January 31, 2024, with revenue reaching CAN$9,616,272, a net income of CAN$476,810, and an adjusted EBITDA of CAN$525,381. Shareholder equity stands at CAN$9.2m, reflecting positive growth in earnings per share and book value per share.

Positive

• Strong revenue growth of CAN$9,616,272 compared to CAN$6,541,213 in 2023.
• Net income increased to CAN$476,810 from CAN$439,160 in 2022.
• Adjusted EBITDA reported at CAN$525,381.
• Earnings per share at CAN$0.063/share as of January 31, 2024.
• Shareholder equity at CAN$9.2m with a book value per share of CAN$0.195/share.
• Financial Statements and Management Discussion and Analysis available on SEDAR Plus and Company's website.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - March 22, 2024) - Canaf Investments Inc. (TSXV: CAF), ("Canaf" or "the Corporation"), is pleased to announce the release of its Financial Statements, and Management Discussion and Analysis for the 3-month period ended January 31, 2024.

Revenue for the quarter was recorded at CAN$9,616,272 (2023: CAN$6,541,213) with a net income of CAN$476,810 (2022: CAN$439,160) and an adjusted EBITDA of CAN$525,381. The results reflect a 12-month trailing earnings per share at 31 January 2024 of CAN$0.063/share.

As at Jan 31, 2024 shareholder equity stood at CAN$9.2m, which relates to a book value per share of CAN$0.195/share (Jan 31, 2023: CAN$0.159/share).

For more details and discussion on the results, the Financial Statements and Management Discussion and Analysis can be viewed on www.sedarplus.ca or the Company's website, www.canafinvestments.com.

About Canaf

Canaf is a public company listed on the TSX-V Exchange. Canaf's registered office is in Vancouver, Canada, with offices in the United Kingdom and South Africa. Canaf owns 100% of Quantum Screening and Crushing (Pty) Ltd., ("Quantum"), a South African company that owns 70% of Southern Coal (Pty) Ltd., ("Southern Coal"), a company that produces a high carbon, de-volatised (calcined) anthracite. Canaf also owns 100% of Canaf Investments (Pty) Ltd., a South African company that owns 100% of Canaf Estate Holdings (Pty) Ltd., a real estate investment company focused on suburban property in Johannesburg.

Forward-Looking Statements

Certain information regarding Canaf contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Canaf believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Canaf is under no obligation to update or alter any forward-looking statement. These risks include operational, political, currency and geological risks and the ability of Canaf to raise or obtain funds for its operations. Canaf's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

UK Office

Christopher Way
Canaf Investments Inc.
E: info@canafinvestments.com
W: www.canafinvestments.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202811

FAQ

What was Canaf Investments Inc.'s revenue for the 3-month period ended January 31, 2024?

Canaf Investments Inc.'s revenue for the 3-month period ended January 31, 2024 was CAN$9,616,272.

What was Canaf Investments Inc.'s net income for the same period?

Canaf Investments Inc.'s net income for the 3-month period ended January 31, 2024 was CAN$476,810.

What was Canaf Investments Inc.'s adjusted EBITDA for the period?

Canaf Investments Inc.'s adjusted EBITDA for the 3-month period ended January 31, 2024 was CAN$525,381.

What was Canaf Investments Inc.'s shareholder equity as of January 31, 2024?

Canaf Investments Inc.'s shareholder equity as of January 31, 2024 stood at CAN$9.2m.

Where can the Financial Statements and Management Discussion and Analysis be viewed?

The Financial Statements and Management Discussion and Analysis can be viewed on SEDAR Plus and Canaf Investments Inc.'s website.