▪ Total investment gains were $0.3 million for the three months ended April 30, 2022, made up of realized losses on investments of $0.2 million and unrealized gains on investments of $0.5 million
▪ As at April 30, 2022, Aberdeen’s shareholders’ equity was $39.9 million, or $0.29 per basic share.
▪ Investments in clean energy inputs and technologies such as Progressus, EV Technology Group and Jourdan continue to be core to Aberdeen’s strategy
Toronto, Canada – June 14, 2022 – Aberdeen International Inc. (“Aberdeen” or the “Company”) (TSX: AAB, F: A8H, OTC: AABVF) is pleased to announce that it has released its financial results for the quarter ended April 30, 2022.
For the three months ended April 30, 2022, Aberdeen reported net loss of $1.2 million or $0.01 per basic share from total revenue of $0.3 million (realized loss on investments of $0.2 million and unrealized gains on investments of $0.5 million). For the three months ending April 30, 2021, Aberdeen reported a net income of $3.3 million or $0.02 per basic share from total revenue of $4.0 million (realized gain on investments of $0.2 million, unrealized gains on investments of $3.8 million and interest and advisory income of $0.1 million).
The Company’s investment portfolio was buoyed by value creation from key investment companies, particularly the successful public listing of EV Technology Group Ltd (“EVTG”). EVTG continues to build its business with the announcement of construction of a flagship store, signing of first customers and bolstering of its leadership team with key hires. The net loss comes largely as a result of ramping up internal technical, financial and operational capabilities to capitalize on the suite of opportunities emerging in the renewable energy and natural resources sector.
“We remain committed to our investment thesis. The success of EVTG’s listing in the public markets indicates that there is continued investor demand for companies focused on enabling a more sustainable future. We are excited about the prospects for EVTG and a number of other private companies in our portfolio that are focused on solving the issues of clean power and food security.”, said Chris Younger, CEO of Aberdeen.
The Company continues to focus on the transition to an economy fuelled by clean energy, seeking attractive investment opportunities and strategic partners that can drive even greater portfolio value.
ABOUT ABERDEEN INTERNATIONAL INC.
Aberdeen International is a global resource investment company and merchant bank focused on small capitalization companies in the rare metals and renewable energy sectors. Progressus Clean Technologies (formerly AES-100 Inc.), an Aberdeen portfolio investment, owns the exclusive rights and all intellectual property pertaining to the Advanced Electrolyzer System for the production of hydrogen from dilute syngas.
For additional information, please visit our website at www.aberdeen.green
For further information, please contact:
Chief Executive Officer
Aberdeen International Inc.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the investment portfolio of the Company; financial results; the renewable energy and natural resources sectors and the Company’s future plans. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company’s website at www.aberdeen.green. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.