Genterra Capital Inc. reports year-end financial results

Genterra Capital Inc. (TSX Venture - "GIC" - Common)

TORONTO, Jan. 22, 2013 /CNW/ - Effective October 1, 2011, GCI began preparing its consolidated financial statements in accordance with International Financial Reporting Standards, with retroactive restatement of comparative figures.  Accordingly, the financial statements for the year ended September 30, 2012 represent the first annual financial statements of the Company prepared in accordance with International Accounting Standards.

Revenues for the period under review were $3,254,803 yielding a net loss of $543,351 and a loss per share of $0.06.  The 2012 results include the costs associated with the transition to IFRS. This compares with revenues of $3,274,188, a net loss of $286,240 and a loss per share of $0.03 for the comparable 2011 period.

Capitalizing on favourable market conditions, during the year, the Company successfully completed a $6 million 3.29% first mortgage refinancing on one of its properties.

Genterra Capital Inc. is a management and holding company whose assets include rental real estate properties and investments.

Disclaimer:  Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Genterra Capital Inc.