Resinco® Capital Partners Inc. Releases June 2014 Unaudited Net Asset Value Per Share
VANCOUVER, British Columbia--(BUSINESS WIRE)--Resinco® Capital Partners Inc. ("Resinco") (TSXV:RIN) (FWB:L6V) announces that it is publishing its net asset value (“NAV”) for the end of June 2014. As of June 30, 2014 Resinco’s unaudited NAV per share was $0.027. The closing price of $0.005 on June 30, 2014 represents an 81% discount to the NAV.
Resinco also announces that it has decided to no longer publish its NAV calculation. The Company’s NAV per share has not fluctuated significantly over the past 12 months. In addition, no longer publishing our monthly NAV represents an ongoing cost saving measure for the Company. This news release will be the Company’s final published monthly NAV.
Use of Non-GAAP Financial Measures
NAV is a non-GAAP financial measure calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable measure presented in Resinco’s financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure.
About Resinco® Capital Partners Inc.
Resinco (Resource Investment Company) is a global investment company that specializes in providing early stage financing to private and public exploration and mining companies in the hard rock minerals, precious metals, rare-earth minerals, oil, gas, water and renewable energy markets.
For more information on Resinco, please visit www.resincocp.com.
On behalf of the Board of Directors
RESINCO® CAPITAL PARTNERS INC.:
Interim President and CEO
For more information, please contact
Doris Meyer, 604-536-2711
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company’s business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.