Canabrava Diamond Corporation: Summary of Third Quarter Financial Statements.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--Nov. 27, 1997-- Canabrava Diamond Corp. (VSE See DOS/VSE. VSE - Virtual Storage Extended :CNB CNB Czech National Bank CNB Centro Nacional de Biotecnologia CNB City National Bank CNB Citizens National Bank CNB Croatian National Bank CNB Chloronitrobenzene CNB Corresponsales No Bancarios (Spanish, Colombia) .) Canabrava Diamond Corporation (CNB-V) summarizes its financial statements for the nine month period ended September September: see month. 30, 1997 as follows: -0-
FINANCIAL HIGHLIGHTS
Nine Months ended September 30
(unaudited)
1997 1996(x)
Current assets $ 762,017 $ 547,994
Total assets 14,405,889 13,318,984
Current liabilities 525,535 236,422
Long-term debt due to
Southwestern Gold Corporation 1,200,000 -
Total liabilities 1,725,535 236,422
Share capital 14,734,100 14,595,040
Revenue 6,192 38,267
Loss for the period 541,268 488,871
Cash deficiency from operations 537,228 432,523
Resource property expenditures 872,882 311,236
Proceeds from long-term debt 1,200,000 -
Cash at end of period 665,836 660,597
(x) Comparative balance sheet data reflects balances as at
December 31, 1996.
The Company requests that shareholders wishing to obtain a complete copy of the Company's Third Quarter Report, together with a copy of the Form 61 Quarterly Report, contact the Company by telephone at (604) 669 2525 or by facsimile at (604) 688 5175. The Company's Third Quarter Report and Form 61 Quarterly Report are also available on the Company's web site at: http://www.swgold.com The Reports will be mailed by the Company once postal services postal service, arrangements made by a government for the transmission of letters, packages, and periodicals, and for related services. Early courier systems for government use were organized in the Persian Empire under Cyrus, in the Roman Empire, and in medieval resume. Canabrava Diamond Corporation is exploring for diamonds in Brazil and Canada. The Company is also looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. diamond opportunities worldwide. Canabrava Diamond Corporation is 52 percent owned by Southwestern Gold Corporation (SWG-T). Rory O. Moore Moore, city (1990 pop. 40,761), Cleveland co., central Okla., a suburb of Oklahoma City; inc. 1887. Its manufactures include lightning- and surge-protection equipment, packaging for foods, and auto parts. , President & C.E.O. Canabrava Diamond Corporation -0- Note To Editors: The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Canabrava Diamond Corporation George H. Plewes, 604/669-2525 or Canabrava Diamond Corporation Rory O. Moore, 604/669-2525 http://www.swgold.com |
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