Sonor Investments Limited Reports Financial Results for the Year Ended December 31, 2008 and Three Months Ended March 31, 2009
- 20 April 2009
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TORONTO, ONTARIO — (Marketwire) — 04/20/09 — Sonor Investments Limited (TSX VENTURE: SNI.PR.A) today reported its financial results for the year ended December 31, 2008 and the three months ended March 31, 2009.
Michael Gardiner, President and Chief Executive Officer, stated that as at March 31, 2009 the Company’s assets totalled $45.3 million. These assets included $9.4 million of marketable securities, $31.9 million in a private investment, $3.2 million of cash and cash equivalents and $0.8 million of Canadian asset backed commercial paper.
During the year ended December 31, 2008, the Company realized $229,000 in net capital losses on the sale of investments and $4,030,000 on the value of investments. This compares to net capital losses of $406,000 on the sale of investments and $205,000 on the value of investments during the year ended December 31, 2007. During the three months ended March 31, 2009, Sonor realized $41,000 in net capital gains on the sale of investments and net capital losses of $345,000 on the value of investments. This compares to net capital losses of $137,000 on the sale of investments and net capital losses of $64,000 on the value of investments during the corresponding period of the previous year.
Loss on value of investments is determined each quarter by testing available for sale investments for impairment. The impairment process includes a review of all shares with particular emphasis on shares trading below book value for more than six months and more than 25% below book value at the end of the fiscal year.
Sonor Investments Limited is an investment corporation located in Toronto, Canada. The First Preference Shares of Sonor trade on The TSX Venture Exchange under the symbol SNI.PR.A.
Contacts: Sonor Investments Limited Mr. Michael Gardiner President and CEO (416) 369-1499 Sonor Investments Limited Mr. Stephen Mills Treasurer CFO (416) 369-1499


















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