Supremex Inc T.SXP

$52m debt is declining, and also covered by 2 properties

[shareholders1]

....This may not be fully understood by investors - existing or potential. The properties are on the balance sheet, but are somewhat hidden.

Page 11 of March 31, 2021 AIF lists all SXP facilities, and says 2 are owned by SXP:

Etobicoke 96k sq ft

Laval 139k sq ft

Based on very rough recent industrial property sales data, these 2 properties may be worth $273 and $170 per sq ft, or about $26m and $24m, respectively, for a total of about $50m (or nearly $2 per share).

Combined LT and ST secured debt at Sept 30, 2021 was $52m.

Potential buyers of 100% of SXP could sell and lease back the 2 properties to finance their acquisition.

[shareholders1]

Some further thoughts on relative values of SXP's Etobicoke and Montreal/ Lasalle properties. If Etobicoke worth $26m, then Lasalle may be worth $30m, for a total of $56m ? That works out to about $2.10 per share, and more than sufficient to pay off ST and LT debt, if properties were sold and leased back. Yes, rent would go up, but drop in interest charges should offset higher rent, and SXP&

[2young2invest]

Interesting observations, you just confused Laval and Lasalle, Lasalle is owned. Anyway, thanks a lot for sharing.

[shareholders1]

I caught and corrected that in my subsequent post, 3 1/2 hours before your post.