Vancouver, British Columbia--(Newsfile Corp. - September 26, 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 9-month period ended July 31, 2024 and the incorporation of a new subsidiary in South Africa.
Revenue for the 9-month period was recorded at CAN$24,959,020 (2023: CAN$21,285,662) with a net income of CAN$1,524,784 (2023: CAN$1,382,244). The results reflect a 12-month trailing earnings per share at 31 July 2024 of CAN$0.05/share. As at 31st July 2024, shareholder equity stood at CAN$10.9m, which relates to a book value per share of CAN$0.229/share (July 31, 2023: CAN$0.172/share).
In August 2024 the Corporation registered a new wholly owned subsidiary of Canaf Investments (Pty) Ltd., Canaf Capital (Pty) Ltd., ("Canaf Capital"). Canaf Capital's focus is to provide capital for short-term, asset-backed financing to support growth in a variety of sectors in South Africa. Canaf Capital will primarily be providing capital via the Alternative Finance Group (www.afg.africa), ("AFG"), a well-established group that provides asset-backed short-term financing to enterprises and entrepreneurs in South Africa. AFG will source, administer and secure capital provided by Canaf Capital on a deal-by-deal basis. Canaf Capital plans to have approximately CAN$1.9m allocated by 31 January 2025, which is forecast to generate returns of up to 2.25% per month.
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 holding company that owns 100% of Canaf Estate Holdings (Pty) Ltd., 100% of Canaf Agri (Pty) Ltd., and 100% of Canaf Capital (Pty) Ltd.
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/224624
SOURCE: Canaf Investments Inc.
