Essex Angel Capital Announces Financial Results for the Three Months Ended May 31, 2012

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Essex Angel Capital Inc. (TSX VENTURE:EXC) (the "Corporation") today announces
the filing of its unaudited financial results for the three and nine-month
period ended May 31, 2012. During the three month period ended May 31, 2012 the
Corporation posted net and comprehensive income of $7,625,659.


The net income derives from a reported $10,394,917 unrealized increase in the
estimated fair value of the Corporation's investments, partly offset by a
related future income tax expense of $2,416,509, and operating expenses of
$353,049. 


The current quarter's net income translates to $0.206 per share, basic and fully
diluted. Total assets have increased by 568% from the February 29, 2012 balance
sheet and 493% from the August 31, 2011 balance sheet. Excluding future income
taxes, the Corporation's balance sheet remains free of long-term liabilities.


Selected financial information follows:



----------------------------------------------------------------------------
                    Quarter ended May      Quarter ended                    
                             31, 2012  February 29, 2012  Year ended August 
                          (unaudited)        (unaudited) 31, 2011 (audited) 
----------------------------------------------------------------------------
Income (loss) for                                                           
 the quarter /                                                              
 year, before                                                               
 income taxes             $10,042,168          ($149,648)         ($748,557)
----------------------------------------------------------------------------
Provision for                                                               
 income taxes             ($2,416,509)                $-                 $- 
----------------------------------------------------------------------------
Earnings (loss) per                                                         
 share - basic and                                                          
 fully diluted                 $0.206            ($0.005)           ($0.033)
----------------------------------------------------------------------------
Working capital              $120,869            $71,716           $422,319 
----------------------------------------------------------------------------
Total assets              $12,467,879         $1,865,379         $2,101,878 
----------------------------------------------------------------------------



"The Essex management and board are pleased to report this quarter's results to
our shareholders," commented Rick Galdi, the Corporation's Chairman and CEO.

Essex Angel Capital Inc. (TSXV:EXC)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024