CALGARY, ALBERTA–(Marketwired – April 18, 2016) – International Frontier Resources Corporation (the “Company”) (TSX VENTURE:IFR) 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.