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Itasca Capital Files Second Quarter Financial Statements for the Period Ended June 30, 2019 and Announces Appointment of Hassan Baqar to the Company's Board Of Directors
Itasca Capital Files Second Quarter Financial Statements for the Period Ended June 30, 201...
About this update from Greenfirst Forest Products Inc
[{"type":"text","content":"\n\n\n\nItasca Capital Files Second Quarter Financial Statements for the Period Ended June 30, 2019 and Announces Appointment of Hassan Baqar to the Company's Board Of Directors\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 13, 2019\n\n\n\nVANCOUVER, Aug. 13, 2019 /CNW/ - Itasca Capital Ltd. (TSX-V: ICL) (\"Itasca\" or \"Company\") today filed its unaudited interim financial statements for the six months ended June 30, 2019 and the related management discussion & analysis, both of which are available under Itasca's profile on SEDAR at www.sedar.com. All amounts are in Canadian dollars unless indicated otherwise.\nThe Company reported net gain attributable to common shareholders of $1.2 million, or $0.05 earnings per share in the second quarter of 2019, primarily due to $1.6 million unrealized gain on the Company's investment in 1347 Investors LLC, partially reduced by foreign exchange loss of $0.3 million. Itasca reported net loss attributable to common shareholders of $0.1 million, or $0.005 loss per share in the second quarter of 2018.\nAs of June 30, 2019, Itasca reported total shareholders' equity of $14.3 million with a book value per share of $0.65 based on the 21,810,626 issued and outstanding common shares.\nItasca also announced the appointment of Hassan R. Baqar to the Company's Board of Directors, effective as of August 13, 2019. Hassan has previously served in several executive positions, including in capacity of officer and director of publicly traded and privately held entities. Mr. Baqar will also continue in his role as Chief Financial Officer of the Company. \nManagement Comments:Larry G. Swets, Jr., Chief Executive Officer and Director, stated, \"We are pleased to see improved common share price of Limbach Holdings Inc., which drives the value of our investment in 1347 Investors LLC. We continue to pursue realization options for our investment and other value-enhancing opportunities for Itasca and our shareholders. I am pleased that Hassan agreed to join the Board of Directors as he is instrumental to our fu...