geovencap inc (GOV) Snapshot

Geovencap Inc. announced that Mrs. Brigitte Dejou has resigned from her position as director of the company, effective May 1, 2013.

GeoVenCap Inc. (TSXV:GOV) is seeking strategic alternatives. GeoVenCap said, "Geovencap has initiated a review process to consider alternatives in relation to its operations. Due to the difficult market conditions, the company has been unsuccessful in raising sufficient capital to advance its projects and might be unable to continue its operations as a going concern. Accordingly, the company is pursuing discussions to preserve value through a strategic partnership, joint venture agreements or a sale of assets in the hope of restoring normal operations. There are no assurances that the process will result in a transaction or, if a transaction is undertaken, as to the terms or timing of such a transaction. In this context, the company may have to postpone the filing of its audited financial statements for the year ended December 31, 2012, which are due to be filed by April 30, 2013."

GeoVenCap Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported loss from operations of CAD 161,418 against CAD 38,828 for the same period last year. Loss before taxes was CAD 162,802 against CAD 35,505 for the same period last year. Net loss and comprehensive loss attributable to the shareholders of the corporation was CAD 162,802 or CAD 0.01 per basic and diluted share against CAD 35,505 or CAD 0.01 per basic and diluted share for the same period last year. For the nine months, the company reported loss from operations of CAD 582,920 against CAD 127,128 for the same period last year. Loss before taxes was CAD 1,501,085 against CAD 119,637 for the same period last year. Net loss and comprehensive loss attributable to the shareholders of the corporation was CAD 1,501,085 or CAD 0.10 per basic and diluted share against CAD 119,637 or CAD 0.04 per basic and diluted share for the same period last year. Cash flow used in operating activities was CAD 337,070 against CAD 112,814 for the same period last year. Investments in property and equipment was CAD 57,020 and investments in mining properties was CAD 39,509.