(TSX - "CMC" - common) TORONTO, Nov. 14 /PRNewswire-FirstCall/ -- Revenues for the nine months ended September 30, 2006 decreased to approximately $21.1 million from $27.7 million in the comparable 2005 period. Sales reflect the consolidation of Distinctive Designs Furniture Inc. ("Distinctive"), the Company's furniture manufacturing subsidiary. Competitive market conditions resulted in reduced sales volumes at Distinctive. Net Loss for the period was $6.5 million compared to $3.1 million in the preceding year. Results for the period were impacted by the furniture operations and the Company's equity position at Polyair. Loss per share for the period was $1.29 compared with $0.62 in the comparable 2005 period. Due to difficulties in the furniture industry business environment and the recent resignation by Distinctive's Controller, the Company's CEO and CFO may not be in a position to certify as at December 31, 2006 that they have designed internal controls over financial reporting as required by the new Canadian Securities Administrators Multilateral Instrument 52-109. In the event that they are unable to do so, the Company may at some future date become subject to a cease trade order. Consolidated Mercantile Incorporated is a management holding company which provides merchant banking and effects its investment strategy through investment in and management of its core strategic industries including furniture, packaging products and finance. "Safe Harbor" statement under the Private Securities Reform Act of 1995: This release contains forward-looking statements which reflect management's current views of future events and operation. These forward-looking statements are based on assumption and external factors, including assumptions relating to product pricing, competitive market conditions, financial data and other risks or uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgement as of the date of this release and any changes in the assumptions or external factors could produce significantly different results. DATASOURCE: Consolidated Mercantile Incorporated CONTACT: Stan Abramowitz, Secretary, (416) 920-0500

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