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E.G. Capital Inc. Announces Results for the Three Months Ended November 30, 2012

Jan 29 2013 12:00AM

Marketwire

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BROSSARD, QUEBEC -- (Marketwire) -- 01/29/13 -- E.G. Capital Inc. (TSX VENTURE: EGC.H), ("E.G. Capital"), formally National Construction Inc., today announces results for the three months ended November 30, 2012.

Comparison of the three months ended November 30, 2012 and November 30, 2011

Revenue was $nil for the three month period ended November 30, 2012 as compared to $nil for the same period last year. Administrative Expenses were $16,383 for the three months ended November 30, 2012 as compared to $13,720 for the same period last year. For the three months ended November 30, 2012, the $16,383 included approximately $13,000 in professional and advisory expenses and approximately $3,000 in regulatory related filing expenses, consulting, and sundry administrative costs. For the three months ended November 30, 2011, the $13,720 included approximately $9,000 in professional and advisory expenses and approximately $4,000 in regulatory related filing expenses, consulting and sundry administrative costs. The Corporation incurred interest and bank charges of $18 for the three months ended November 30, 2012 as compared to interest expense of $18 for the same period last year.

As a result of the foregoing factors, the loss for the three months ended November 30, 2012 was $16,401 as compared to a loss of $64,802 for the same period last year.

Comparison of the nine months ended November 30, 2012 and November 30, 2011

Revenue was $nil for the nine month period ended November 30, 2012 as compared to $nil for the same period last year. Administrative Expenses were $69,802 for the nine months ended November 30, 2012 as compared to $50,148 for the same period last year. For the nine months ended November 30, 2012, the $69,802 included approximately $56,000 in professional and advisory expenses and approximately $14,000 in regulatory related filing expenses, consulting, and sundry administrative costs. For the nine months ended November 30, 2011, the $50,148 included approximately $37,000 in professional and advisory expenses and approximately $13,000 in regulatory related filing expenses, consulting and sundry administrative costs. The Corporation incurred interest and bank charges of $54 for the nine months ended November 30, 2012 as compared to interest expense of $54 for the same period last year.

As a result of the foregoing factors, the loss for the nine months ended November 30, 2012 was $69,856 as compared to a loss of $50,395 for the same period last year.

About E.G. Capital Inc.

The Corporation is an inactive company listed on the NEX board of the TSX Venture Exchange Inc. ("the Exchange). The business of the Corporation is to identify and evaluate businesses or assets with a view to completing a reactivation transaction on the Exchange.

Following the sale of certain assets in February, 2005, the Corporation did not engage in any active business other than to preserve and/or convert into cash any assets remaining with the Corporation and to pursue future shareholder enhancing opportunities. The Corporation intends to review and pursue opportunities to unlock the value of its unrecorded future income tax assets.

This press release may contain forward-looking statements relating to the Corporation. Among the important factors that could cause actual results to differ materially from those indicated by such forward looking statements are competitive pressures, technical difficulties, market acceptance, changes in customer requirements, and general economic conditions, and other risks and uncertainties as described from time to time in Corporation's reports, registration statements and filings filed by the Corporation with securities regulatory authorities.

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.



Contacts:
E.G. Capital Inc.
William G. Edwards
CFO
(416) 565-0066





Source: Marketwire