TORONTO, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Sonor Investments Limited ("Sonor" or the "Company") today reported its financial results for the six months ended June 30, 2025.
| 6 months ended June 30 | 3 months ended June 30 | |||||||
| 2025 | 2024 | 2025 | 2024 | |||||
| $000 | $000 | $000 | $000 | |||||
| Revenue | 1,487 | 669 | 965 | 55 | ||||
| Income (loss) before taxes | 1,109 | 322 | 724 | (160) | ||||
Michael Gardiner, Chairman and CEO, stated that as at June 30, 2025 the Company's assets totaled $61 million. These assets included $12 million of marketable securities, $35.6 million in a private investment, $13.4 million of cash and cash equivalents.
During the six months ended June 30, 2025, the Company recorded an unrealized gain of $898,000 compared to an unrealized loss on Investments of $501,000 for the same period in 2024. This was primarily driven by appreciation of our equity investments in publicly traded companies.
During the period under review, the Company has maintained net assets and qualified investments in excess of the amounts prescribed under the share conditions pertaining to the First Preference Shares in its capital stock.
Sonor announces that an eligible dividend of $11,989,541.20 has been declared payable August 19, 2025 to common shareholders.
Sonor also announces that it has changed its auditor from Deloitte LLP (the "Former Auditor") to Doane Grant Thornton LLP (the "Successor Auditor") effective August 14, 2025. The Former Auditor resigned as auditor of the Company at the Company's request effective August 13, 2025 and the Board of Directors of the Company appointed the Successor Auditor as the new auditor until the next Annual General Meeting of the Company.
The Company confirms that there have been no reportable events (as defined in National Instrument 51-102) in the Former Auditor's reports for the two most recently completed financial years or for any period subsequent to the most recently completed period for which an audit report was issued. The Company's Board of Directors and Audit Committee each accepted the resignation of the Former Auditor and approved the appointment of the Successor Auditor in place of the Former Auditor.
In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the Audit Committee and the Board of Directors and have been filed on SEDAR+.
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.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
