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Itasca Capital files year-end 2018 financial statements
Itasca Capital files year-end 2018 financial statements Canada NewsWire VANCOUVE...
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[{"type":"text","content":"\n\n\n\nItasca Capital files year-end 2018 financial statements\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, March 7, 2019\n\n\n\nVANCOUVER, March 7, 2019 /CNW/ - Itasca Capital Ltd. (TSX-V: ICL) (\"Itasca\" or \"Company\") today filed its audited consolidated financial statements for the year ended December 31, 2018 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 loss attributable to common shareholders of $3.5 million, or $0.16 loss per share in the fourth quarter of 2018, compared to net income attributable to common shareholders of $0.4 million, or $0.02 earnings per share in the fourth quarter of 2017.\nFor the year ended December 31, 2018, Itasca reported net loss attributable to common shareholders of $6.3 million, or $0.29 loss per share, compared to net loss attributable to common shareholders of $1.0 million, or $0.05 loss per share for the year ended December 31, 2017.\nAs of December 31, 2018, Itasca reported total shareholders' equity of $13.3 million with a book value per share of $0.61 based on the 21,810,626 issued and outstanding common shares.\nSignificant events during 2018 included the following:\nReceipt of US$4.0 million cash in February 2018 as return of capital distribution from the investment in Class A Interests of 1347 Investors LLC (the \"Investment\").Change in unrealized loss from the Investment amounting to $7.4 million.Foreign exchange gain amounting to $1.4 million as a result of translation of US dollar denominated Investment.Special cash dividend of $0.15 per common share or $3.3 million in aggregate paid in August 2018Management Comments:Larry G. Swets, Jr., Chief Executive Officer, stated, \"We are pleased that we were able to pay a special dividend in 2018 from the gains generated from our investment in 1347 Investors LLC, as we continue to seek further realization from this investment. The value of Itasca's investment in 134...