CIC Energy Reports First Quarter 2012 Financial Results
![CIC Energy Reports First Quarter 2012 Financial Results](https://www.minenportal.de/media/goldseiten-news.jpg)
The lower year over year change in net loss for the first quarter is primarily due to reductions in office and general expenses as well as a decrease in employee costs.
Capitalized project costs amounted to $165,601,367 to date, with capitalized project costs for the quarter ended February 29, 2012 totaling $779,162.
The Condensed Consolidated Interim Financial Statements for the three months ended February 29, 2012, along with the Company's Management's Discussion and Analysis ("MD&A"), have been filed on SEDAR and are available at www.sedar.com.
CIC Energy has a current treasury of approximately CDN$17.3 million and has 58,012,127 shares outstanding and 75,958,575 shares fully diluted including 13,061,448 warrants which have not vested. CIC Energy is listed on the Toronto Stock Exchange (TSX:ELC) and the Botswana Stock Exchange (BSE:CIC Energy).
For further information:
on CIC Energy and its projects visit the Company's website at www.cicenergycorp.com or contact:
Erica Belling, CFA, P.Eng.
EVP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243
Email: ebelling@taucapital.com