EGC.H
2010-07-30
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E.G. Capital Inc. Announces Results for the Three
Months Ended May 31, 2010
BROSSARD, QUEBEC--(Marketwire - July 30, 2010) - E.G. Capital Inc. (TSX
VENTURE:EGC.H), ("E.G. Capital"), formally National Construction Inc.,
today announces results for the three months ended May 31, 2010.
Comparison of the three months ended May 31, 2010 and May 31, 2009
Revenue was $nil for the three month period ended May 31, 2010 as compared
to $13,750 for the same period last year. Administrative Expenses were
$29,878 for the three months ended May 31, 2010 as compared to $24,771 for
the same period last year. For the three months ended May 31, 2010, the
$29,878 included approximately $26,774 in professional and advisory
expenses and approximately $3,104 in regulatory related filing expenses,
consulting, and sundry administrative costs. For the three months ended May
31, 2009, the $24,771 included approximately $20,000 in professional and
advisory expenses and approximately $5,000 in regulatory related filing
expenses, consulting and sundry administrative costs.
The Corporation incurred interest and bank charges of $43 for the three
months ended May 31, 2010 as compared to interest expense of $274 for the
same period last year.
As a result of the foregoing factors, the loss for the three months ended
May 31, 2010 was $29,921 as compared to a loss of $11,295 for the same
period last year.
About E.G. Capital Inc.
The Corporation is an inactive company listed on the NEX board of the TSX
Venture Exchange Inc ("the Exchange). The business of the Corporation is to
identify and evaluate businesses or assets with a view to completing a
reactivation transaction on the Exchange.
Following the sale of certain assets in February, 2005, the Corporation did
not engage in any active business other than to preserve and/or convert
into cash any assets remaining with the Corporation and to pursue future
shareholder enhancing opportunities. The Corporation intends to review and
pursue opportunities to unlock the value of its unrecorded future income
tax assets.
This press release may contain forward-looking statements relating to the
Corporation. Among the important factors that could cause actual results to
differ materially from those indicated by such forward looking statements
are competitive pressures, technical difficulties, market acceptance,
changes in customer requirements, and general economic conditions, and
other risks and uncertainties as described from time to time in
Corporation's reports, registration statements and filings filed by the
Corporation with securities regulatory authorities.
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FOR FURTHER INFORMATION PLEASE CONTACT:
E.G. Capital Inc.
William G. Edwards
CFO
(416) 260-2145 ext 230
The TSX Venture Exchange Inc. does not accept responsibility for the
adequacy or accuracy of this release.
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