FIRSTFUND REPORTS 2022 FOURTH QUARTER RESULTS

TSXV Trading Symbol:  FFP

VANCOUVER, BC, May 1, 2023 /CNW/ - The financial results of Consolidated Firstfund Capital Corp. (TSXV: FFP) (the "Company" or "Firstfund") for the three months ended December 31, 2022 show a net loss of $4,286 or $0.00 per share (2021 - net income of $112,464 or $0.02 per share).  The Company recorded an unrealized net loss of $81,087 (2021 - unrealized net gain of $70,086) on the revaluation of the investments in Vitality Products Inc. (TSXV: VPI) measured at fair value through profit or loss.  The Company's fee income increased to $85,982 for the three months ended December 31, 2022 (2021 - $80,102).

The financial results of the Company for the year ended December 31, 2022 show a net loss of $316,748 or $0.05 per share (2021 - $115,460 or $0.02 per share).  The Company recorded an unrealized net loss of $431,520 (2021 - $210,261) on the revaluation of the investments in Vitality Products Inc. measured at fair value through profit or loss.  The Company's fee income increased to $330,416 for the year ended December 31, 2022 (2021 - $311,884).

The Company's audited consolidated financial statements and management's discussion and analysis for the years ended December 31, 2022 and 2021 are available on SEDAR at www.sedar.com.

About Firstfund

Consolidated Firstfund Capital Corp. (TSXV: FFP) is a venture capital and property development and management company doing business primarily in Canada and the West Coast of the United States.  The Company is an investment issuer listed on the TSX Venture Exchange.  Firstfund has invested its capital in both private companies and publicly traded companies since 1983.  The Company continues to investigate other investment opportunities for its portfolio.  Firstfund earns fee income for real estate development and property management activities performed on properties owned by other companies and limited partnerships managed by companies under common control.

On behalf of the Board of 
CONSOLIDATED FIRSTFUND CAPITAL CORP.

"W. Douglas Grant" (signed)
______________________________

W. Douglas Grant, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Consolidated Firstfund Capital Corp.

W. Douglas Grant, President & CEO at [phone] or [email protected]