FOUNTAIN ASSET CORP. ANNOUNCES ITS FINANCIAL RESULTS FOR THE THIRD QUARTER 2017November 24, 2017
TORONTO, ONTARIO – Fountain Asset Corp. (“Fountain Asset”) (TSX Venture Exchange “FA”) announces its financial results for the third quarter ending September 30, 2017.
• Nine-month revenue of $1,438,757;
• Net comprehensive income of $3,501,387 ($0.06 per share) in the first nine months of 2017;
• Increase of adjusted book value per share to $0.38 from $0.31 at the end of December 31, 2016.
Management’s Third Quarter Comments
For the nine months ending September 30, 2017, the Company reported total revenue of $1,438,757 compared to $1,925,907 in the prior year’s first nine months. Net comprehensive income for the first nine months was $3,501,387 compared to $1,196,037 in the prior year’s first nine months. As at September 30, 2017, the Company’s adjusted net asset per share was at $0.38 compared to $0.31 at the end of December 31, 2016.
A full set of unaudited financial statements and related notes have been filed on SEDAR.
About Fountain Asset Corp.
Fountain Asset Corp. is a merchant bank which provides equity financing, bridge loan services (asset back/collateralized financing) and strategic financial consulting services to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: David Darakjian at (416) 488-7760 or visit Fountain Asset Corp.'s website at www.fountainassetcorp.com.