Aquarius Coatings Reports Results of Operations for the Period Ending December 31, 2015

HALIFAX, Feb. 29, 2016 /CNW/ - AQUARIUS COATINGS INC. (AQC.H – TSX-V NEX) (the "Corporation") today reports the results of operations for the three month and nine month periods ended December 31, 2015.  All amounts referenced herein are in Canadian dollars. 

Net loss from continuing operations for the three months was $10,114 ($0.00 per share) compared to a loss of $1,560 ($0.00 per share) for the three months ended December 31, 2014.

The Corporation recorded net loss from continuing operations of $28,435 ($0.00 per share) in the nine months ended December 31, 2015 compared to a loss of $17,667 ($0.00 per share) in the same period last year.

In the prior year the Corporation recorded net loss from discontinued operations of $526 ($0.00) for the three months and a loss of $210,034 ($0.002 per share) for the nine months ended December 31, 2014 there were no transactions from discontinued operations in current three month and nine month periods.

The Corporation has filed its unaudited consolidated financial statements and management discussion and analysis for the third quarter ended December 31, 2015. Both are available under the Corporation's profile on SEDAR at www.sedar.com

The Company's shares have been suspended from trading on the TSX Venture Exchange (the "TSXV") effective November 3, 2014, for failure to comply with Exchange Requirements. The Company has satisfied the TSX-V following a Compliance Review of its status following the disposition in September, 2014, of the assets of its Coatings Division.  The Company has paid all requisite fees and the Directors have provided assurances and undertakings regarding compliance with Exchange Requirements, as required by the TSX-V.  In accordance with the requirements of the TSX-V following that Review, since the Company has not maintained the requirements for a TSX Venture Exchange ("TSX.V") Tier 2 company, the Company's listing will transfer to the NEX Board of the TSX.V (the "NEX") upon completion of requisite formalities.

The TSX Venture Exchange has neither approved nor disapproved of the information contained in this release. This Media Release may contain forward-looking statements, which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ from those projected herein and depend on a number of factors including the success of the Corporation's sales strategies.

SOURCE Aquarius Coatings Inc.

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