NEWS ARCHIVE - 2007
Edgeworth Ventures Inc. Acquires 144 Acres of Property in Athabasca, Alberta
Toronto – November 30, 2007
Edgeworth Ventures Inc. (Pink Sheets: EGWV) announced today that, through a wholly owned subsidiary, it has acquired approximately 144 acres in Athabasca, Alberta.
Known as the “Gateway to the Great New North”, Athabasca is located approximately halfway between Edmonton, Alberta, the provincial capital of the oil-rich province, and Fort McMurray, Alberta, the epicenter of the oil-sands industry. Athabasca itself is a centre for employment in oil and gas exploration and services, forestry and supporting services, agricultural, food, hardware, and retail services. The acquired parcel of land fronts Highway 55 and is suitable for urban development.
“The acquisition of the Athabasca lands is another step in our strategy to acquire lands in appreciating regions of the Province of Alberta. Athabasca is an urban center which is growing from its own oil and gas industry as well as benefiting from the growth of the oil sands in Fort McMurray to the north and the refinery industry of Edmonton to the south. As such, we look forward to developing this land and contributing to the Athabasca community.” comments Donald G. Hurst, Chief Executive Officer and President of Edgeworth Ventures Inc.
Edgeworth Ventures Inc. (Pink Sheets: EGWV) is a holding company which, through its subsidiaries, is engaged in the purchase, development and sale of real estate across the Western Hemisphere, with a particular focus on the oil-rich provinces of Canada.
Caution Concerning Forward-Looking Statements: This document may contain “forward-looking statements”— that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain and not within our control. Particular uncertainties that could adversely or positively affect our future results include, without limitation: changes in government on the municipal, provincial and federal level, change in zoning and by-laws, fluctuations in interest, borrowing and currency exchange rates, change in the financial markets, the state of commodity prices, the credit environment for both commercial and consumer sectors, future integration of acquired business, changes in the flow of monies cross border and future performance of the real estate, oil & gas and financial markets. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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Edgeworth Ventures Inc. Reviewing Strategic Alternatives
for Enhancing Shareholder Value
Toronto – November 13, 2007
Edgeworth Ventures Inc. (Pink Sheets: EGWV) announced today it has commenced a review of strategic alternatives available to the Company to enhance shareholder value including, but not limited to, a move of the Company to another stock exchange, a public offering of additional common shares or an offering of convertible debt instruments. The Company has retained Grant Thornton UK LLP as part of this strategic review.
There can be no assurances that the review will result in any specific strategic or financial transactions being completed and no timetable has been set for the completion of the review.
Patrick Oliver-Kelley, Director and Executive Vice-President of the Company, is leading this initiative on behalf of the Company. Mr. Oliver-Kelley comments: “We are exploring a number of initiatives globally and investigating a number of international investment arenas with the primary goal of enhancing shareholder value. The internationalization of capital offers a multitude of opportunities for Edgeworth and we want to be assured that we have given each its proper evaluation.”
Edgeworth Ventures Inc. (Pink Sheets: EGWV) is a holding company which, through its subsidiaries, is engaged in the purchase, development and sale of real estate across the Western Hemisphere, with a particular focus on the oil-rich provinces of Canada.
Caution Concerning Forward-Looking Statements: This document may contain “forward-looking statements”— that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain and not within our control. Particular uncertainties that could adversely or positively affect our future results include, without limitation: changes in government on the municipal, provincial and federal level, change in zoning and by-laws, fluctuations in interest, borrowing and currency exchange rates, change in the financial markets, the state of commodity prices, the credit environment for both commercial and consumer sectors, future integration of acquired business, changes in the flow of monies cross border and future performance of the real estate, oil & gas and financial markets. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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Edgeworth Ventures Inc. acquires Sonex Construction Ltd.
Toronto – October 31, 2007
Edgeworth Ventures Inc. is pleased to announce that it has acquired Sonex Construction Ltd. Sonex Construction Ltd. is an Edmonton-based general contractor, incorporated in 1989 with annual sales of approximately $25 million. Sonex specializes in oil and gas projects, civil construction and commercial construction. In addition, Sonex also has specialities in pipeline installation and repairs, pipe fabrication and facilities installations which it primarily conducts during the construction off-season.
Mr. Brian J. Meaney, current President of Sonex Construction Ltd., will continue to be President of this newly formed division of Edgeworth Ventures Inc. Sonex Construction Ltd. will retain its name. The consideration for the acquisition was partially cash and partially stock.
“One of the key factors in executing our strategy to acquire and develop land in appreciating regions of Alberta is cost control,” said Donald G. Hurst, Chairman and President of Edgeworth Ventures Inc., “the acquisition and integration of Sonex Construction Ltd. will help with cost containment- which is difficult to achieve in a rapidly growing economy such as Alberta's - and allow us to deliver greater profitability to the corporation and its shareholders.”
Brian J. Meaney comments: “I am pleased to join the Edgeworth family and be a part of a dynamic and growing company. I look forward to bringing to market high-quality projects.”
Edgeworth Ventures Inc. (Pink Sheets: EGWV) is a holding company which through its subsidiaries is engaged in the purchase, development and sale of real estate across the Western Hemisphere, with a particular focus on the oil-rich provinces of Canada.
Sonex Construction Ltd. is an Edmonton, Alberta based general contractor incorporated in 1989. Sonex specializes in oil and gas projects, civil construction and commercial construction.
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Edgeworth acquires property in Parkland County
Toronto – October 11, 2007
Edgeworth Ventures Inc. (Pink Sheets: EGWV) is pleased to announce that it has acquired property legally described as Meridian 5, Range 2, Township 51, Section 27, the West Half of the South West Quarter in Parkland County, Alberta. Parkland County is approximately 20 minutes west of Edmonton, the provincial capital of the Province of Alberta.
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Edgeworth Ventures Inc. Releases Q2 2007 Financial Results
Toronto – July 5, 2007
Edgeworth Ventures Inc. (Pink Sheets: EGWV) announced its financial results for the second quarter of 2007.
The company today announced that in the second quarter 2007, it earned $2,322,355 in profit for total before income tax profit for fiscal 2007 of $4,342,203 to date
(All figures are Canadian and unaudited)
“I am please to report that we continue to meet our financial projections for fiscal 2007 in the second quarter,” reported C. Vaughan Minor, FCA, Chief Financial Officer of Edgeworth Ventures Inc.,“the results reflect our commitment to the proper execution of our business goals”.
Download Edgeworth Ventures Inc. 2nd Quarter 2007 Financial Report in PDF format (324 kb)
Note: This press release contains statements which may be deemed to be forward-looking statements under certain securities laws, including the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities legislation, and Edgeworth Ventures Inc., and its affiliates and subsidiaries intend that such forward-looking statements be subject to the safe-harbor created thereby. The words “may,” “could,” “should,” “would,” “suspect,” “outlook,” “believe,” “plan,” “anticipate,” “estimate,” “expect,” “intend,” “forecast,” “objective” and words and expressions of similar import are intended to identify forward-looking statements.
By their very nature, forward-looking statements involve numerous assumptions, and inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause our actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to the possibility that any and all projections as to financial return of products or securities are not met due to market forces and/or regulatory changes. The company undertakes no obligation to publicly update or revise any forward looking statement or information, whether as a result of new information, future events or otherwise.
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Edgeworth Ventures Inc. Releases 2006 and Q1 2007 Financial Reports
Toronto – July 5, 2007
Edgeworth Ventures Inc. (Pink Sheets: EGWV) announced its financial results for the 2006 fiscal year and the first quarter of 2007.
Commenting on the 2006 result, C. Vaughan Minor, FCA, Chief Financial Officer of Edgeworth Ventures Inc. said, “We are pleased that our ‘investment’ in growing the company was accomplished with a minimum of capital and operating cost expenditure. For fiscal year 2006, we lost approximately $1.5 million on a consolidated basis for capital expenditures including the purchase of two properties in Redwater, Alberta, one property in Fort McMurray and one property in Camrose, Alberta.”
(All figures Canadian)
“I am pleased to report that in the first quarter of 2007, we not only recovered our losses from 2006 but our earnings before income taxes on a combined basis was $2,020,647” continued Minor. “We look forward to increasing our earnings for the remainder of 2007”.
Download Edgeworth Ventures Inc. 1st Quarter 2007 Financial Report in PDF format (216 kb)
Download Edgeworth Ventures Inc. 2006 Financial Report in PDF format (156 kb)
Note: This press release contains statements which may be deemed to be forward-looking statements under certain securities laws, including the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities legislation, and Edgeworth Ventures Inc., and its affiliates and subsidiaries intend that such forward-looking statements be subject to the safe-harbor created thereby. The words “may,” “could,” “should,” “would,” “suspect,” “outlook,” “believe,” “plan,” “anticipate,” “estimate,” “expect,” “intend,” “forecast,” “objective” and words and expressions of similar import are intended to identify forward-looking statements.
By their very nature, forward-looking statements involve numerous assumptions, and inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause our actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to the possibility that any and all projections as to financial return of products or securities are not met due to market forces and/or regulatory changes. The company undertakes no obligation to publicly update or revise any forward looking statement or information, whether as a result of new information, future events or otherwise.
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Camrose Regional Sport Development Centre Renamed the Edgeworth Centre
Toronto – June 25, 2007
The City of Camrose, Alberta and Edgeworth Properties Inc., a wholly owned subsidiary of Edgeworth Ventures Inc., announced in a ceremony on June 23, 2007 that the Camrose Regional Sport Development Centre will be renamed the Edgeworth Centre.
“Edgeworth Properties is committed to the development of the City of Camrose and its community,” said C. Vaughan Minor, FCA, president of Edgeworth Properties Inc.“The Edgeworth Centre is part of our larger vision to be an active partner in the City, the larger region and the Province of Alberta.”
Mayor Clarence Mastel of the City of Camrose commented: “The City of Camrose and its community is pleased and proud to welcome Edgeworth's association with the state of the art health and leisure facility. The Edgeworth Centre is symbolic of the partnership between the City and Edgeworth. We look forward to working with Edgeworth on both the sports development centre and future developments. Edgeworth is a partner who is committed to being a part of our community and we welcome them to our City.”
The Edgeworth Centre is a multi-use major spectator events arena having a NHL-sized ice surface and bowl seating configuration and a 'sky seating' area to accommodate a total of 2500+ spectators for major sport competitions and concerts. The Edgeworth Centre also has a new 300 seat User Arena, to accommodate community sports programming as well as a community fitness centre, physiotherapy centre and physiology lab, a child play area and links to the Max McLean Arena, Rose City Curling Club and the Aquatic Centre.
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Edgeworth Ventures Inc. Acquires Further Properties
Toronto – February 26, 2007
Edgeworth Ventures Inc. (Pink Sheets: EGWV), is pleased to announce the latest edition to their stable of real estate holdings.
A wholly owned subsidiary of Edgeworth Ventures Inc. has acquired approximately 152 acres in City of Camrose, Alberta. Camrose is a municipality south-east of Edmonton, Alberta. Subject to the closing of the transaction and regulatory compliance, it is Edgeworth Ventures Inc.’s current intention to develop the Camrose property into residential properties.
“The Camrose acquisition continues our commitment to finding and developing properties in high-growth areas. The proposed development will coincide with the construction of a multi-million dollar sports development centre in Camrose as well as the development of a hotel and casino.
These projects show that the City of Camrose is growing and, with this acquisition, Edgeworth Ventures Inc. continues its goal to locate real estate in the right location at the right time,”
- comments Donald G. Hurst, Chairman of the Board and President of Edgeworth Ventures Inc.
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Advisory to Potential European and Asian Investors
Toronto – January 30, 2007
Edgeworth Ventures Inc. (the “Corporation”) has been advised that several financial institutions have represented to investors in Europe and Asia that the Corporation is affiliated with such institutions or that the Corporation’s senior executives endorse such institutions.
The Corporation, and its directors and officers have NO affiliation with any financial institutions in Europe, do not endorse any financial institution and have no knowledge of any of the representations being given by these institutions.
Any persons domiciled in Europe and Asia interested in purchasing shares of the Corporation should seek independent advice from qualified financial advisors. The Corporation cannot verify as to the truthfulness or accuracy of any statement made by the afore-mentioned financial institutions.
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LEGAL DISCLAIMER:
These press releases contain statements which may be deemed to be forward-looking statements under certain securities laws, including the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities legislation, and Edgeworth Ventures Inc., and its affiliates and subsidiaries intend that such forward-looking statements be subject to the safe-harbour created thereby. The words “may,” “could,” “should,” “would,” “suspect,” “outlook,” “believe,” “plan,” “anticipate,” “estimate,” “expect,” “intend,” “forecast,” “objective” and words and expressions of similar import are intended to identify forward-looking statements.
By their very nature, forward-looking statements involve numerous assumptions, and inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause our actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to the possibility that any and all projections as to financial return of products or securities are not met due to market forces and/or regulatory changes. The company undertakes no obligation to publicly update or revise any forward looking statement or information, whether as a result of new information, future events or otherwise.
