Northern Financial Announces Second Quarter Resultsadmin
Northern Financial Announces Second Quarter Results
Toronto, Ontario CANADA, December 05, 2013 /FSC/ – Northern Financial Corporation (NFC – TSX Venture), (“Northern Financial” or the “Company”) today announced that the Company earned net income of $762,264 during the quarter ended September 30, 2013, compared to a net loss of $237,203 from continuing operations during the quarter ended September 30, 2012. Contributing to the net income was a gain on the settlement of an outstanding liability in the amount of $403,200, as well gains associated with lenders to the Company agreeing to write off the interest accrued on their loans to the Company.
About Northern Financial Corporation
Northern Financial Corporation is a financial advisory firm and merchant bank, with a specialization in mergers and acquisitions, merchant banking investments, risk arbitrage merger and acquisition investments, financial restructurings, proxy solicitation and information agent services.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. This press release may contain forward-looking statements with respect to the Company, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under “Risk Factors” in the Management’s Discussion and Analysis and Filing Statement of the Company which are available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Company has no obligation to update such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chairman and Chief Executive Officer
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Source: Northern Financial Corporation (TSX-V: NFC)
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Posted: December 5th, 2013 under FSCWIRE.