Vancouver, British Columbia--(Newsfile Corp. - March 4, 2021) - DXI Capital Corp. (TSXV: DXI.H) ("DXI" or the "Company"), files on Sedar its YE 2020 annual audited financial statements. The Company is now well positioned to source and support a qualifying transaction to leverage DXI Capital's network and lineague in the North American public markets. The Company is actively seeking an impactful tailwind business with a strong, well capitalized management team looking for a solid runway to growth that can utilize the corporate public trading platform, qualified shareholder base and poignant tax loss position the Company has to offer.
Highlights for the Fiscal Year ending December 31, 2020:
- Successfully liquidated 100% of all operating subsidiaries, including all associated liabilities.
- Reported a one time $8.7 million gain on these dispositions.
- Completed the conversion to equity of all $4.4 million of secured and unsecured debt at $0.475 per share.
- Consolidated the equity capital on a 100:1 basis.
- Resultant capital structure of 11.9 million shares, with no dilutive options or warrants.
- Zero net payables.
- Notional monthly operating costs.
- Recruited resources and commenced activities to source and support new business transaction opportunities.
- Maintains an inplace $375k bridge loan from the major shareholders to support the search for and closure of a quality transaction.
- Maintains usable tax losses under Canadian tax laws of:
- $26 million of net operating loss carry forwards.
- $95 million of capital loss carry forwards.
About DXI Capital Corp.
DXI Capital Corp. maintains an office in the World Trade Centre, Vancouver, Canada. The Company is publicly traded, currently with a TSX.H listing in Canada. Since 1969, the Company, or a predecessor, has been listed on a combination of the TSX or TSX.V in Canada; and/or the NYSE/AMEX or OTCQB in the US since 2007.
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.
Corporate Contacts:
Sean Hodgins: CFO/COO: sean@tandemig.com 778-318-1514
Bob Hodgkinson: CHM/CEO: rhodgkinson@dxicap.com 604-617-7133
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