Consolidated HCI Holdings Corporation Announces its 2017 Second Quarter Results

WOODBRIDGE, ON, May 8, 2017 /CNW/ - Consolidated HCI Holdings Corporation today announced its fiscal 2017 second quarter results.

	3 months ended March 31		6 months ended March 31
	2017	2016	2017	2016
($000's except earnings per share)
Revenue	$365	$275	$679	$575
Net earnings (loss) for the period	$(368)	$  256	$476	$242
Earnings (loss) per share	$(0.02)	$0.01	$0.02	$0.01

Net earnings for the first six months of 2017 includes fair value gains on the Company's investment properties of $909.

Net earnings for the first six months of 2016 includes fair value gains on the Company's investment properties of $381.

On March 24, 2017, the Company announced that it had accepted an offer to sell its 50% interest in each of its two remaining investment properties to a company controlled by insiders of the Company with a scheduled closing of June 30, 2017. The purchase price for the sale is $14,250, to be satisfied by the assumption by the buyer of the Company's 50% of the mortgage obligation in respect of the properties, estimated to be $2,700 at closing, and the balance in cash. On April 28, 2017, the Company announced that, at special meeting of shareholders held that day, a special resolution approving the sale was passed.

Consolidated HCI Holdings Corporation is an Ontario-based real estate and development company that trades on The Toronto Stock Exchange under the symbol "CXA.B"

SOURCE Consolidated HCI Holdings Corporation

please contact Mr. Arnold J. Resnick, 905-851-7741 (106)