April 15, 2019, Vancouver, British Columbia - Canaf Investments Inc. (TSXV: CAF), ("Canaf" or “the Corporation”), is pleased to announce the registration of new South African subsidiaries, as part of its growth and diversification strategy.
Canaf has registered a new wholly owned South African subsidiary, Canaf Investments (Pty) Ltd., which wholly owns Canaf Estate Holdings (Pty) Ltd., (“CEH”).
The new subsidiaries have been registered as part of the Corporation’s strategy plans, with the intention of creating a diverse Corporation focused on sustainable and long-term growth sectors within South Africa. Canaf Investments (Pty) Ltd., will be used to act as a holding company for new South African investment companies.
CEH will be used to invest in properties primarily within the suburbs of the old Johannesburg CBD; an area that is currently benefitting from significant investment and regeneration projects. The Corporation sees investment in real estate in these suburban areas as an opportunity to acquire properties that should experience significant capital growth, whilst yielding healthy rental returns. Examples of major projects close to CEH’s target area include Jewel City, Maboneng and Victoria Yards, and one of the major funds to invest in the area is Divercity, http://divercity.co.za.
The vision for CEH is to acquire, redevelop and hold properties targeting the student and affordable housing market, with the goal to purchase enough critical mass to uplift the entire area, thereby growing the capital value of the properties in the area.
The Corporation can also confirm the acquisition of CEH’s first investment of approximately $150k, which is expected to yield a 20% return when fully occupied. Funding is sourced organically through existing cash reserves and local lenders. Canaf plans to develop further opportunities using similar sources of capital.
Canaf is a public company listed on the TSX-V Exchange. Canaf’s registered office is in Vancouver, Canada, with offices in the United Kingdom and South Africa. Canaf owns 100% of Quantum Screening and Crushing (Pty) Ltd., (“Quantum”), a South African company that owns 70% of Southern Coal (Pty) Ltd., (“Southern Coal”), a company that produces a high carbon, de-volatised (calcined) anthracite. Canaf owns 100% of Canaf Investments (Pty) Ltd., a South African company that owns 100% of Canaf Estate Holdings (Pty) Ltd., a real estate investment company focused on sub-urban property in Johannesburg.
Forward Looking Statements
Certain information regarding Canaf contained herein may constitute forward-looking statements. Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Canaf believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward looking statements. Canaf is under no obligation to update or alter any forward looking statement. These risks include operational, political, currency and geological risks and the ability of Canaf to raise or obtain funds for its operations. Canaf's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Canaf Investments Inc.
Phone: +44 1273 492100
Fax: +44 1273 492175
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
You can view the Next News Releases item: June 27, 2019, Canaf announces financial results for Q2 2019
You can view the Previous News Releases item: March 26, 2019, Canaf announces financial results for Q1 2019
You can return to the main News Releases page, or press the Back button on your browser.