Business
Canaf Announces Release of Financial Results for Q3 2024 and Launch of New Subsidiary
Vancouver, British Columbia--(Newsfile Corp. - September 26, 2024) - Canaf Investments Inc. (TSX...
About this update from Canaf Investments Inc.
[{"type":"text","content":"Canaf Announces Release of Financial Results for Q3 2024 and Launch of New SubsidiaryVancouver, 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 CanafCanaf 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., a...