VANCOUVER, British Columbia, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Russell Breweries Inc. (NEX:RB.H) releases its financial results for the first six months of Fiscal 2018 (“2018F YTD”), ended December 31, 2017.
The Company reports net and comprehensive loss of $230,776 for 2018F YTD compared to net and comprehensive income of $2,869,300 for the first six months of Fiscal 2017 ended December 31, 2016.
First Half of Fiscal 2018 Highlights
Subsequent to the disposals of substantially all of the assets related to its Fort Garry Brewing and Russell Brewing operating business in December 2016, the Company ceased operations and became inactive.
During the six months that ended December 31, 2017, the Company received $1,838,482 of the asset sales considerations, including working capital adjustments, general liability holdbacks and interest payments.
As at December 31, 2017, the Company had a positive working capital of $3,045,121, and $3,174,697 of cash and cash equivalents.
For further details, the Company's complete MD&A and financial statements for the six months ended December 31, 2017 and 2016 are available on SEDAR at www.sedar.com.
Additional Information
Russell Breweries Inc. is a public company trading on the NEX board of the TSX Venture Exchange under the symbol "RB.H".
For more information, please contact:
Benjamin Li Yu | CEO
Russell Breweries Inc.
Tel: 604.599.1190
Fax: 604.596.1048
benjamin.yu@russellbeer.com
Neither TSX Venture Exchange 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.