(June 7 – 09:20 ET) – Digital Gem Corp. says its Northern Securities Inc. subsidiary posted strong results in the fourth quarter ended March 31.
Digital Gem says it will release full-year financial results before July 15, but in the meantime it is out talking up Northern Securities’ performance. The brokerage had record revenues of $2.1 million in the three months ended March 31 and $2.6 million for the fiscal year.
The firm launched eNorthern, which it bills as “Canada’s first truly investor-friendly, customizable financial services trading portal” on May 23. eNorthern has about 3,000 registered users including 1,000 brokerage account applicants.
Northern has also completed 14 financings so far this year, including Hemosol Inc., SR Telecom Inc., Isotechnika Inc., 701.COM Corp, Energy Ventures Inc. and Image Sculpting International Inc.
Vic Alboini, chairman and CEO of Northern, said, “We are very pleased with the progress that we have made in establishing relationships with a number of new small cap companies as corporate finance clients. The small cap market in Canada is underserved. Our unique blend of online and traditional services is designed to give small-cap clients the attention they deserve. Our vision is to be the pre-eminent investment bank in Canada dedicated to small-cap and emerging companies.”
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