Apr 18, 2016
2015 year-end financial results
International Frontier Resources Corporation (the "Company") today reported its financial results for the year ended December 31, 2015.
The Company recorded a consolidated net loss for the year ended December 31, 2015 of
$4,394,775 ($0.06 per share) as compared to a consolidated net loss of $561,465 ($0.009 per share) at December 31, 2014. Excluding non-cash charges comprised of accretion, depletion, depreciation, share-based compensation, loss on equity investment and an impairment charge of $2,620,965 the Company recorded a loss of $1,279,550 in 2015.
In 2015 oil revenue, net of royalties, was $572,070 compared to $922,355 in 2014. At December 31, 2015 cash and cash equivalents were $2,240,470 and working capital was positive $1,993,485.
The Company's audited financial statements, MD&A and annual NI 51-101 report can be found on SEDAR and on the Company's website.
The Company's shares are listed on the TSX Venture Exchange trading under the symbol IFR.
For further information please visit www.internationalfrontier.com or contact:
Pat Boswell - CEO
Steve Hanson -- President
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or accuracy of this release". The Company seeks Safe Harbor.
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