{"id":380456,"date":"2020-11-12T17:04:11","date_gmt":"2020-11-12T22:04:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380456"},"modified":"2020-11-12T17:04:11","modified_gmt":"2020-11-12T22:04:11","slug":"caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/","title":{"rendered":"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<ul type=\"disc\">\n<li>\n          <b>Fourth quarter revenue of <span class=\"xn-money\">$11.3 million<\/span>.<\/b>\n        <\/li>\n<li>\n          <b>Fourth quarter operating profit of <span class=\"xn-money\">$2.3 million<\/span>.<\/b>\n        <\/li>\n<li>\n          <b>Annual revenue of <span class=\"xn-money\">$58.2 million<\/span>.<\/b>\n        <\/li>\n<li>\n          <b>Annual operating profit of <span class=\"xn-money\">$3.8 million<\/span>.<\/b>\n        <\/li>\n<\/ul>\n<p>\n        <span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">Nov. 12, 2020<\/span> \/PRNewswire\/ &#8211; Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2020 fourth quarter and full year ended <span class=\"xn-chron\">August 31, 2020<\/span>. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1333528\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1333528\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg\" title=\"As a leading provider of executive talent, Caldwell enables clients to thrive and succeed by helping them identify, recruit and retain the best people. (CNW Group\/The Caldwell Partners International Inc.)\" alt=\"As a leading provider of executive talent, Caldwell enables clients to thrive and succeed by helping them identify, recruit and retain the best people. (CNW Group\/The Caldwell Partners International Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>Financial Highlights (in $000s except per share amounts)<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbts prnrbrs prnvab prnsbbs prntar prnpl6 prnsbls prnpr8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>THREE MONTHS ENDED <br \/>AUGUST 31<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>YEAR ENDED <br \/>AUGUST 31<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnrbrs prnvab prnsbbs prntar prnpl6 prnsbls prnpr8\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Professional fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$11,128<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$20,502<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$56,690<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$69,749<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">License fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$71<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$177<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$700<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Direct expense reimbursements<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$102<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$398<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,326<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,689<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$11,254<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$20,971<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$58,193<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$72,138<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Cost of sales<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$8,696<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$14,838<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$44,352<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$53,046<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Government stimulus grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($2,205)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($2,446)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Reimbursed direct expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$102<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$398<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,326<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,689<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Gross profit<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$4,661<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$5,735<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$14,961<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$17,403<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Selling, general and administrative expenses <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$2,752<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$4,460<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$11,588<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$14,074<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Goodwill impairment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,521<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,521<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Government stimulus grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($393)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($393)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Operating profit (loss) <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$2,302<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($246)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$3,766<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,808<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Interest expense on lease liability\u00b9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$147<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$367<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Investment income (loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($7)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($67)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$605<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($211)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Foreign exchange (gain) loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($128)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$105<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($179)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$168<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Earnings (loss) before tax<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$2,290<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($284)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$2,973<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,851<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">Income tax expense (income)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($282)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$670<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$127<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,526<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Net earnings (loss) after tax <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$2,572<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($954)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$2,846<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$325<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnmr6\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Net earnings (loss) per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$0.126<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">($0.047)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$0.139<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$0.016<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTableac08\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvat prnsbtb0 prntar prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>1.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Effective September 1, 2019 IFRS 16 was implemented resulting in a change to the way leases are treated and giving rise to interest expense on lease liability. During periods prior to fiscal 2020, all lease related expenses were recognized as occupancy costs and included in expenses in arriving at operating profit.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>&#8220;Fiscal 2020 was a year unlike any other,&#8221; said <span class=\"xn-person\">John Wallace<\/span>, chief executive officer. &#8220;After an incredible start to the year, the world went in a completely unexpected direction due to the pandemic and the ensuing economic uncertainty. The effect on our business has been significant, as employment levels and hiring at our clients were dramatically reduced, but it has also been the catalyst for an impressive level of innovation and adaptation inside our firm. Our team has done a superlative job of delivering outstanding and transformative leadership talent for our clients, and we have seen monthly sequential increases in new search volumes and business development activity. We remain extremely confident in the team&#8217;s ability to garner market share throughout a recovering market.&#8221;<\/p>\n<p>Wallace continued: &#8220;As a result of quick and decisive steps to actively manage costs, preserve capital and enhance liquidity, we have come out of a challenging year in a position of financial strength. We have a balance sheet and a cash position with liquidity to operate during the current pandemic environment and do intend to make strategic investments to expand our industry, geographic and service coverage as the opportunities arise.&#8221;<\/p>\n<p>\n        <b>Financial Highlights (all numbers expressed in $000s)<\/b>\n      <\/p>\n<p>\n        <u>Impact of the COVID-19 pandemic on our business<\/u>:<br \/>We experienced record growth results leading up to the pandemic&#8217;s occurrence. Fiscal 2019 revenue of <span class=\"xn-money\">$72.1 million<\/span> was the highest in our firm&#8217;s history, and the first half of fiscal 2020 (<span class=\"xn-chron\">September 1, 2019<\/span> to <span class=\"xn-chron\">February 28, 2020<\/span>) was 12% higher than the same period in fiscal 2019. Since the onset of the pandemic, we have seen significant pressure on our business.<\/p>\n<p>On <span class=\"xn-chron\">January 30, 2020<\/span>, the World Health Organization (WHO) characterized the novel coronavirus (COVID-19) as a public health emergency. At that time, there had not been a direct negative impact seen in the regions we operate in of <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-location\">the United States<\/span> and the <span class=\"xn-location\">United Kingdom<\/span>. On <span class=\"xn-chron\">March 11<\/span>, the WHO expanded its characterization of COVID-19 to a global pandemic. The impact of COVID-19 on the Company has been significant, impacting both revenue and costs. We were working entirely remotely beginning in March, and while we have reopened our offices as health restrictions provide, we are still encouraging our people to continue working remotely while safety concerns remain. We do not anticipate a full return to our offices until sometime later in 2021.<\/p>\n<p>\n        <u>Government stimulus grants<\/u>:<br \/>As discussed more fully in note 11 to our annual financial statements, we have participated in available stimulus grants offered by the governments in <span class=\"xn-location\">Canada<\/span> and <span class=\"xn-location\">the United States<\/span> to help offset the negative impact of the COVID-19 pandemic. The total amount of government stimulus grants recognized during 2020 was <span class=\"xn-money\">$2,839<\/span> (<span class=\"xn-money\">$241<\/span> and <span class=\"xn-money\">$2,598<\/span> in the third and fourth quarters, respectively). The costs are shown as offsets to the functional cost categories they applied to. Of the total, <span class=\"xn-money\">$707<\/span> was a direct grant pertaining to <span class=\"xn-location\">Canada<\/span>, shown as an offset to cost of sales in the third and fourth quarters of <span class=\"xn-money\">$241<\/span> and <span class=\"xn-money\">$466<\/span>, respectively. <span class=\"xn-money\">$2,132<\/span> pertained to <span class=\"xn-location\">the United States<\/span> in the form of a loan that is eligible for forgiveness if certain conditions are met. We believe we have complied with the relevant provisions of the program by validly using the entire proceeds of the loan for qualifying expenses during the coverage period and have therefore concluded that forgiveness of the loan is probable. As a result, we have recategorized the proceeds from a loan to that of a government grant, represented by deductions in cost of goods sold <span class=\"xn-money\">($1,739)<\/span> and selling, general and administrative expenses <span class=\"xn-money\">($393)<\/span>, respectively.<\/p>\n<p>We applied for forgiveness review by our lender and the US government on <span class=\"xn-chron\">September 21, 2020<\/span>. It is unknown how long the loan forgiveness review process will take, with indication from our lender of up to five months. Ultimate forgiveness is dependent on the bank review and a further review by the Small Business Administration of <span class=\"xn-location\">the United States<\/span>. While we believe the forgiveness criteria has been achieved, no guarantee of forgiveness can be given until formal forgiveness is received. It is possible the loan will not be forgiven and will need to be repaid.<\/p>\n<ul type=\"disc\">\n<li>Operating revenue:\n<p><i>Fourth Quarter<\/p>\n<p><\/i><\/li>\n<ul type=\"circle\">\n<li>Professional fees for the fourth quarter of fiscal 2020 decreased 45.7% (46.5% excluding a favourable 0.8% variance from exchange rate fluctuations) from the comparable period last year to <span class=\"xn-money\">$11,128<\/span> (2019: <span class=\"xn-money\">$20,502<\/span>).\n<p>The decrease in professional fees is attributable to reductions in the Number of Assignments to 110 (2019: 127) and Average Fee per Assignment to <span class=\"xn-money\">$101<\/span> (<span class=\"xn-money\">$100<\/span> excluding exchange rate fluctuations; 2019: <span class=\"xn-money\">$161<\/span>). The decrease in both factors is primarily the result of the pandemic&#8217;s economic impact on our clients and related pricing pressures among executive search firms. The Number of Assignments decreased on a lower Number of Assignments per Partner at 2.9 (2019: 3.2) and a lower Average Number of Partners at 37.3 (2019: 40.0).<\/p>\n<p>On a segment basis, <span class=\"xn-money\">$7,541<\/span> of professional fees were generated\u00a0from the US (2019: <span class=\"xn-money\">$15,950<\/span>),\u00a0$2,304 from <span class=\"xn-location\">Canada<\/span> (2019: <span class=\"xn-money\">$4,496<\/span>) and <span class=\"xn-money\">$1,283<\/span> from <span class=\"xn-location\">Europe<\/span> (2019: <span class=\"xn-money\">$56<\/span>).<\/p>\n<\/li>\n<li>License fees from our licensee in <span class=\"xn-location\">New Zealand<\/span> for the use of the Caldwell brand and intellectual property for the fiscal 2020 fourth quarter were <span class=\"xn-money\">$24<\/span> (2019: <span class=\"xn-money\">$71<\/span>).\n<\/li>\n<li>Direct expenses incurred and billed to clients during the fiscal 2020 fourth quarter were <span class=\"xn-money\">$102<\/span> (2019: <span class=\"xn-money\">$398<\/span>).\n<p><i>Full year<\/p>\n<p><\/i>Professional fees for 2020 decreased 18.7% (19.5% excluding a favourable 0.8% variance from exchange rate fluctuations) over the comparable period last year to <span class=\"xn-money\">$56,690<\/span> (2019: <span class=\"xn-money\">$69,749<\/span>). <\/p>\n<p>The decrease in professional fees is attributable to a reduction in the Number of Assignments to 408 (2019: 439) and a lower Average Fee per Assignment of <span class=\"xn-money\">$139<\/span> (<span class=\"xn-money\">$138<\/span>, excluding exchange rate fluctuations; 2019: <span class=\"xn-money\">$159<\/span>). Similar to the fourth quarter figures, both factors were negatively impacted by the pandemic in the second half of the year. The Number of Assignments decreased on a lower Number of Assignments per Partner at 10.6 (2019: 11.1) and a lower Average Number of Partners at 38.5 (2019: 39.5).<\/p>\n<p>On a segment basis, <span class=\"xn-money\">$42,842<\/span> of professional fees was generated from the US (2019: <span class=\"xn-money\">$53,282<\/span>), <span class=\"xn-money\">$10,607<\/span> from <span class=\"xn-location\">Canada<\/span> (2019: <span class=\"xn-money\">$15,497<\/span>) and <span class=\"xn-money\">$3,241<\/span> from <span class=\"xn-location\">Europe<\/span> (2019: <span class=\"xn-money\">$970<\/span>).<\/p>\n<\/li>\n<li>License fees for the year ended <span class=\"xn-chron\">August 31, 2020<\/span> were <span class=\"xn-money\">$177<\/span> (2019: <span class=\"xn-money\">$700<\/span>).\n<\/li>\n<li>Year to date direct expenses incurred and billed to clients were <span class=\"xn-money\">$1,326<\/span> (2019: <span class=\"xn-money\">$1,689<\/span>).\n<\/li>\n<\/ul>\n<li>Operating profit:<br \/><i>Fourth Quarter\n<p><\/i><\/li>\n<ul type=\"circle\">\n<li>The fourth quarter&#8217;s operating profit increased <span class=\"xn-money\">$2,548<\/span> to <span class=\"xn-money\">$2,302<\/span> (2019: loss of <span class=\"xn-money\">$246<\/span>). The increase was the result of lower Revenue, Net of Reimbursements <span class=\"xn-money\">($9,421)<\/span> being more than offset by lower cost of sales <span class=\"xn-money\">($6,142)<\/span>, lower selling, general and administrative expenses <span class=\"xn-money\">($1,708)<\/span>, government stimulus grants received in 2020 <span class=\"xn-money\">($2,598)<\/span> and the impairment expense taken in the fourth quarter of fiscal 2019 to write-off the goodwill balance of our European segment <span class=\"xn-money\">($1,521)<\/span>. Excluding the net favourable impact of exchange rate changes on our operations of for the quarter of <span class=\"xn-money\">$33<\/span>, operating profit on a constant currency basis increased <span class=\"xn-money\">$2,515<\/span> to <span class=\"xn-money\">$2,269<\/span>.\n<\/li>\n<li>Selling, general and administrative expenses for the fourth quarter decreased <span class=\"xn-money\">$1,708<\/span> (38.3%), from <span class=\"xn-money\">$4,460<\/span> to <span class=\"xn-money\">$2,752<\/span>. Excluding unfavourable exchange rate variances of <span class=\"xn-money\">$15<\/span> (0.3%), expenses decreased <span class=\"xn-money\">$1,723<\/span> (38.6%). This constant currency decrease was the result of management bonus accrual reversals as a result of not meeting targeted performance <span class=\"xn-money\">($604)<\/span>; decreased share-based compensation expense, the result of a lower share price and a reduction in performance factors, as targeted performance was not achieved <span class=\"xn-money\">($439)<\/span>; lower marketing and business development expenses due to our consultants&#8217; inability to travel as a result of COVID-19 travel restrictions and reduced marketing spend <span class=\"xn-money\">($381)<\/span>; a municipal tax assessment in Q4 2019 primarily related to prior years <span class=\"xn-money\">($350)<\/span>; and offsetting favourable variances across other smaller cost categories (-<span class=\"xn-money\">$51<\/span>).\n<\/li>\n<li>Effective <span class=\"xn-chron\">September 1, 2019<\/span> we implemented IFRS 16. An interest expense on lease liability of <span class=\"xn-money\">$104<\/span> (2019: $nil) was recognized during the quarter per IFRS 16.\n<\/li>\n<li>On a segment basis, fourth quarter operating profit was <span class=\"xn-money\">$678<\/span> (2019: loss of <span class=\"xn-money\">$5<\/span>) from <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-money\">$1,360<\/span> (2019: <span class=\"xn-money\">$1,714<\/span>) from the US and <span class=\"xn-money\">$264<\/span> (2019: loss of <span class=\"xn-money\">$1,955<\/span>) from <span class=\"xn-location\">Europe<\/span>.\n<p><i>Full year<\/p>\n<p><\/i><\/li>\n<li>Operating profit for the full year increased <span class=\"xn-money\">$1,958<\/span> to <span class=\"xn-money\">$3,766<\/span> (2019: <span class=\"xn-money\">$1,808<\/span>). The increase was the result of lower Revenue, Net of Reimbursements <span class=\"xn-money\">($13,582)<\/span> being more than offset by lower cost of sales <span class=\"xn-money\">($8,694)<\/span>, lower selling, general and administrative expenses <span class=\"xn-money\">($2,486)<\/span>, government stimulus grants received in 2020 <span class=\"xn-money\">($2,839)<\/span>, and the impairment expense taken in the fourth quarter of fiscal 2019 to write-off the goodwill balance of our European segment <span class=\"xn-money\">($1,521)<\/span>.\n<\/li>\n<li>Selling, general and administrative expenses for the full year decreased <span class=\"xn-money\">$2,486<\/span> (17.7%), to 11,588 from <span class=\"xn-money\">$14,074<\/span>. Excluding unfavourable exchange rate variances of <span class=\"xn-money\">$74<\/span> (0.5%), expenses decreased <span class=\"xn-money\">$2,560<\/span> (18.2%). This constant currency decrease was the result of lower share-based compensation expense as a result of a lower share price and a reduction in performance factors as a result of not meeting targeted performance in the current period <span class=\"xn-money\">($804)<\/span>; management bonus accrual reversals as a result of not meeting targeted performance <span class=\"xn-money\">($670)<\/span>; lower marketing and business development expenses <span class=\"xn-money\">($532)<\/span>; Lower office expenses as a result of adoption of IFRS 16 <span class=\"xn-money\">($456)<\/span>, largely offset by the interest on lease liability (see below); a municipal tax assessment in Q4 2019 primarily related to prior years <span class=\"xn-money\">($350)<\/span>; lower legal expenses with last year&#8217;s expenses being higher than usual due to our pursuit of a claim against a former client <span class=\"xn-money\">($265)<\/span>; lower costs of annual practice meetings, held last year but not in the current year <span class=\"xn-money\">($188)<\/span>; lower partner recruitment expenses <span class=\"xn-money\">($111)<\/span>; and offsetting investment costs in our Caldwell Analytics growth initiative through higher consulting fees (-<span class=\"xn-money\">$501<\/span>); Higher office expenses on the early termination of and losses on disposition related to <span class=\"xn-location\">Dallas<\/span> lease (-<span class=\"xn-money\">$292<\/span>); and unfavourable variances across other smaller cost categories (-<span class=\"xn-money\">$23<\/span>).\n<\/li>\n<li>For 2020 an interest expense on lease liability of <span class=\"xn-money\">$324<\/span> (2019: $nil) was recognized.\n<\/li>\n<li>On a segment basis, operating profit for the year was <span class=\"xn-money\">$1,290<\/span> (2019: <span class=\"xn-money\">$1,490<\/span>) from <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-money\">$2,494<\/span> (2019: <span class=\"xn-money\">$3,334<\/span>) from the US and a loss of <span class=\"xn-money\">$18<\/span> (2019: loss of <span class=\"xn-money\">$3,016<\/span>) from <span class=\"xn-location\">Europe<\/span>.\n<\/li>\n<\/ul>\n<li>Net earnings after tax:\n<\/li>\n<ul type=\"circle\">\n<li>Fourth quarter net income was <span class=\"xn-money\">$2,572<\/span> (<span class=\"xn-money\">$0.126<\/span> per share), as compared to a net loss of <span class=\"xn-money\">$954<\/span> (<span class=\"xn-money\">$0.047<\/span> per share) in the comparable period a year earlier.\n<\/li>\n<li>Full-year net income was <span class=\"xn-money\">$2,846<\/span> (<span class=\"xn-money\">$0.139<\/span> per share) compared to <span class=\"xn-money\">$325<\/span> (<span class=\"xn-money\">$0.016<\/span> per share) last year.\n<\/li>\n<li>Income tax expense was lower than statutory rates in the fourth quarter and for the full year. This was largely due the cancellation of an intercompany loan balance between our US and UK entities. The cancellation generated a deductible loss in the US which was able to be carried back up to five years to generate an immediate benefit. In the UK, the cancellation generated taxable income, but we were able to fully applied loss carryforward from prior years to shield current tax expense.<\/li>\n<\/ul>\n<\/ul>\n<p>Average Number of Partners, Annualized Professional Fees per Partner, Number of Assignments, Number of Assignments per Partner, Average Fee per Assignment, Revenue, Net of Reimbursements\u00a0and Unencumbered Cash do not have any standardized meaning under IFRS and may not be comparable to measures presented by other companies. These operating measures are used by the Company to analyze its results. Please refer to section &#8220;Non\u2013GAAP Financial Measures and Other Operating Measures&#8221; in the Company&#8217;s MD&amp;A for a definition of these terms.<\/p>\n<p>For a complete discussion of the quarterly financial results, please see the company&#8217;s Management Discussion and Analysis posted on SEDAR at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2980566-1&amp;h=3232954009&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>. <\/p>\n<p>\n        <b>About <span class=\"xn-location\">Caldwell<\/span><\/b>\n      <\/p>\n<p>At <span class=\"xn-location\">Caldwell<\/span> we believe Talent Transforms. As a leading provider of executive talent, we enable our clients to thrive and succeed by helping them identify, recruit and retain the best people. Our reputation\u201350 years in the making\u2013has been built on transformative searches across functions and geographies at the very highest levels of management and operations. With offices and partners across <span class=\"xn-location\">North America<\/span>, <span class=\"xn-location\">Europe<\/span> and <span class=\"xn-location\">Asia Pacific<\/span>, we take pride in delivering an unmatched level of service and expertise to our clients.<\/p>\n<p>Understanding that transformative talent is not limited to executive levels, our Caldwell Advance solution focuses on emerging leaders and advancing professionals who can also have a profound impact on a company&#8217;s ability to turn potential into success. We also leverage our skills and networks to provide agile talent solutions in the form of flexible and on-demand advisory solutions for companies looking for support in strategy and operations. Caldwell Analytics is a talent optimization solution that uses highly respected, results-driven assessments to align our clients&#8217; talent and business strategies, driving better business results.<\/p>\n<p>\n        <span class=\"xn-location\">Caldwell&#8217;s<\/span> Common shares are listed on The Toronto Stock Exchange (TSX: CWL). Please visit our website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2980566-1&amp;h=619965673&amp;u=http%3A%2F%2Fwww.caldwellpartners.com%2F&amp;a=www.caldwellpartners.com\" rel=\"nofollow noopener noreferrer\">www.caldwellpartners.com<\/a> for further information. <\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>\n        <i>Forward-looking statements in this document are based on current expectations that are subject to the significant risks and uncertainties cited. These forward-looking statements generally can be identified by use of statements that include phrases such as &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;foresee,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;likely,&#8221; &#8220;estimates,&#8221; &#8220;potential,&#8221; &#8220;continue&#8221; or other similar words or phrases. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. The Company is subject to many factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statement including, but not limited to, our ability to attract and retain key personnel; exposure to our partners taking our clients with them to another firm; the performance of the US, Canadian and international economies, <\/i><br \/>\n        <i>including the impact of pandemic diseases;<\/i><br \/>\n        <i>\u00a0competition from other companies directly or indirectly engaged in executive search; liability risk in the services we perform; potential legal liability from clients, employees and candidates for employment; cybersecurity requirements, vulnerabilities, threats and attacks; damage to our brand reputation; our ability to align our cost structure to changes in our revenue; adverse tax law rulings; our ability to generate sufficient cash flow from operations to support our growth and maintain our dividend;<\/i><br \/>\n        <i>\u00a0<\/i><br \/>\n        <i>technological advances may significantly disrupt the labour market and weaken demand for human capital at a rapid rate; foreign currency exchange rate fluctuations; affiliation agreements may fail to renew or affiliates may be acquired; marketable securities valuation fluctuations; increasing dependence on third parties for the execution of critical functions; volatility of the market price and volume of our common shares; potential impairment of our acquired goodwill and intangible assets; and disruption as a result of actions of certain stockholders or potential acquirers of the Company. For more information on the factors that could affect the outcome of forward-looking statements, refer to the &#8220;Risk Factors&#8221; section of our Annual Information Form and other public filings (copies of which may be obtained at <a href=\"http:\/\/www.sedar.com\" rel=\"nofollow\">www.sedar.com<\/a>). These factors should be considered carefully, and the reader should not place undue reliance on forward-looking statements. Although any forward-looking statements are based on what management currently believes to be reasonable assumptions, we cannot assure readers that actual results, performance or achievements will be consistent with these forward-looking statements, and management&#8217;s assumptions may prove to be incorrect. Except as required by Canadian securities laws, we do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf; such statements speak only as of the date made. The forward-looking statements included herein are expressly qualified in their entirety by this cautionary language.<\/i>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"4\" class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>THE CALDWELL PARTNERS INTERNATIONAL INC.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(in $000s Canadian)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>As at<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>As at<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>August 31<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>August 31<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>2020<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>2019<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,481<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,623<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Marketable securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,832<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accounts receivable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,316<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,915<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income taxes receivable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">928<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Unbilled revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,430<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,086<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Prepaid expenses and other assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,553<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,320<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,708<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">34,776<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-current assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Restricted cash<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">45<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">45<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Marketable securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">71<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">85<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Advances<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">695<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,047<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Property and equipment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,128<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,379<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Right-of-use assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,691<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Goodwill<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,288<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,313<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Deferred income taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,245<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,963<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">40,871<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">40,608<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accounts payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,764<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,389<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Compensation payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,812<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,222<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lease liability<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,873<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Dividends payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">459<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income taxes payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">576<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,449<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25,646<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-current liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Compensation payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">734<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,068<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Provisions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">49<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lease liability<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,932<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24,115<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,763<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Equity attributable to owners of the Company<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,515<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,515<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contributed surplus<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,013<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,005<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accumulated other comprehensive income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">419<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">581<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Deficit\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,191)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,256)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,756<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,845<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prnsbtbl prnsbr1 prnvab prnsbbd prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total liabilities and equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">40,871<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">40,608<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbbd prntal prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbbd prntal prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>THE CALDWELL PARTNERS INTERNATIONAL INC.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CONSOLIDATED STATEMENTS OF EARNINGS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntac prnpl20 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Twelve months ended<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>August 31<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(in $000s Canadian, except per share amounts)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>2020<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>2019<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Professional fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">56,690<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69,749<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Licence fees<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">177<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">700<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Direct expense reimbursements<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,326<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,689<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">58,193<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72,138<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of sales expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of sales<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">44,352<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">53,046<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Government stimulus grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,446)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Reimbursed direct expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,326<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,689<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen31\">\n              \n            <\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,232<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">54,735<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross profit<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,961<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,403<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Selling, general and administrative<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,588<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,074<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Goodwill impairment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,521<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Government stimulus grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(393)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen31\">\n              \n            <\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,195<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,595<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating profit<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,766<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,808<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Finance expenses (income)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest expense on lease liability<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">367<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Investment loss (income)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">605<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(211)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Foreign exchange (gain) loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(179)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">168<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Earnings before income tax<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,973<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,851<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income tax expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">127<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,526<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net earnings for the year attributable to owners of the Company<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,846<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">325<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Earnings per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic &amp; Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$0.139<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$0.016<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(in $000s Canadian)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntal prnpl20 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Twelve months ended<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>August 31<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen31\">\n              \n            <\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>2020<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>2019<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net earnings for the year<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,846<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">325<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other comprehensive income:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Items that may be reclassified subsequently to net earnings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntar prnpl10 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntal prnpl10 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gain (loss) on marketable securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">210<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(55)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbbs prntar prnpl10 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbbs prntal prnpl10 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cumulative translation adjustment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(372)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">197<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Comprehensive earnings for the year attributable to owners of the Company<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,684<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">467<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Certain comparative figures have been restated to conform with current year presentation.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <br \/>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"7\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>THE CALDWELL PARTNERS INTERNATIONAL INC.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(in $000s Canadian)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prnsbts prnsbr1 prnvab prnsbb1 prntac prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accumulated Other Comprehensive<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen41\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income (Loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Unrealized<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cumulative<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gains (Loss) on<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contributed<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Translation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Marketable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen41\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen42\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Deficit<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen42\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share Capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen42\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Surplus<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen42\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjustment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen42\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen42\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Equity<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Balance &#8211; August 31, 2018<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(9,854)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7,515<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15,002<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>770<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>487<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13,920<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adoption of IFRS 9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">818<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(818)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adoption of IFRS 15<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,291<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,291<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net earnings for the year<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">325<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">325<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Dividend payments declared<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,836)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,836)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share-based payment expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change in unrealized loss on<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(55)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(55)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 marketable securities available for sale\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change in cumulative translation adjustment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">197<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">197<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Balance &#8211; August 31, 2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen43\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(9,256)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7,515<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15,005<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>967<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen43\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(386)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13,845<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adoption of IFRS 16<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,137<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,137<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net earnings for the year<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,846<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,846<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Dividend payments declared<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(918)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(918)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share-based payment expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change in unrealized loss on<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">210<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">210<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 marketable securities available for sale\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change in cumulative translation adjustment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(372)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(372)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Balance &#8211; August 31, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen43\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(6,191)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7,515<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15,013<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>595<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen43\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(176)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>16,756<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"5\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The accompanying notes are an integral part of these consolidated financial statements.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n              \n            <\/td>\n<td class=\"prngen18\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"6\" class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>THE CALDWELL PARTNERS INTERNATIONAL INC.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CONSOLIDATED STATEMENTS OF CASH FLOW<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(in $000s Canadian)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prnsbts prnsbr1 prnvab prnsbb1 prntal prnpl40 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Twelve months ended<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntal prnpl60 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>\u00a0\u00a0 August 31<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>2020<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>2019<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash flow provided by (used in)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating activities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net earnings for the year<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,846<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">325<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Add (deduct) items not affecting cash<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen46\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation of property and equipment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">461<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">520<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of intangible assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">94<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation of right-of-use assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,565<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of advances<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,128<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">898<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gain on government stimulus grants<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,132)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss on disposition of assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">103<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss on disposition of right-of-use assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">87<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Reduction in lease liability due to early termination<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(91)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest expense on lease liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">367<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Fees received in shares<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(23)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss (gain) on marketable securities classified as FVPL<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">625<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(177)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share based payment expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Gain) loss on unrealized foreign exchange on subsidiary loans<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(262)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">136<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Decrease in provisions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(44)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Decrease in deferred revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(449)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Decrease (increase) in unbilled revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,623<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(558)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Decrease (increase) in deferred income taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">520<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(541)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Decrease in cash settled share-based compensation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(334)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(547)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Decrease in goodwill<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,521<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Changes in working capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,102)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,160)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net cash provided by operating activities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,389<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Investing activities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Proceeds from sale of marketable securities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,207<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Tenant inducement on right-of-use assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">367<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Payment of advances<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(576)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,260)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Proceeds from release of restricted cash<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">94<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Purchase of property and equipment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,320)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(564)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Proceeds from the disposition of property and equipment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen47\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net cash used in investing activities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,678<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,692)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Financing activities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen46\">\n              \n            <\/td>\n<td class=\"prngen46\">\n              \n            <\/td>\n<td class=\"prngen46\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Dividend payments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,377)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,836)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Payment of lease liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,021)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sublease payments received<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">310<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Proceeds from government loan<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,267<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen47\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net cash provided by (used in) financing activities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen48\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(821)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbts prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td class=\"prngen48\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,836)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Effect of exchange rate changes on cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(388)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">225<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen47\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net increase (decrease) in cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,858<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,262)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents, beginning of year<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,623<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,885<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prnsbts prnsbr1 prnvab prnsbbd prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents, end of year<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,481<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,623<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>The net impact of opening balance sheet adjustments as a result of implementing IFRS 15 and 16 have been <\/i><br \/>\n                  <i>eliminated in the creation of the consolidated statements of cash flow. <\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p \/>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO90488&amp;sd=2020-11-12\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results-301172404.html\">http:\/\/www.prnewswire.com\/news-releases\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results-301172404.html<\/a><\/p>\n<p>SOURCE  The Caldwell Partners International Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO90488&amp;Transmission_Id=202011121701PR_NEWS_USPR_____TO90488&amp;DateId=20201112\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Fourth quarter revenue of $11.3 million. Fourth quarter operating profit of $2.3 million. Annual revenue of $58.2 million. Annual operating profit of $3.8 million. TORONTO, Nov. 12, 2020 \/PRNewswire\/ &#8211; Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2020 fourth quarter and full year ended August 31, 2020. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. Financial Highlights (in $000s except per share amounts) THREE MONTHS ENDED AUGUST 31 YEAR ENDED AUGUST 31 2020 2019 2020 2019 Professional fees $11,128 $20,502 $56,690 $69,749 License fees $24 $71 $177 $700 Direct expense reimbursements $102 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-380456","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Fourth quarter revenue of $11.3 million. Fourth quarter operating profit of $2.3 million. Annual revenue of $58.2 million. Annual operating profit of $3.8 million. TORONTO, Nov. 12, 2020 \/PRNewswire\/ &#8211; Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2020 fourth quarter and full year ended August 31, 2020. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. Financial Highlights (in $000s except per share amounts) THREE MONTHS ENDED AUGUST 31 YEAR ENDED AUGUST 31 2020 2019 2020 2019 Professional fees $11,128 $20,502 $56,690 $69,749 License fees $24 $71 $177 $700 Direct expense reimbursements $102 &hellip; Continue reading &quot;Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-12T22:04:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1333528\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"16 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results\",\"datePublished\":\"2020-11-12T22:04:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/\"},\"wordCount\":3299,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1333528\\\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/\",\"name\":\"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1333528\\\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg\",\"datePublished\":\"2020-11-12T22:04:11+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/#primaryimage\",\"url\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1333528\\\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg\",\"contentUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1333528\\\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/","og_locale":"en_US","og_type":"article","og_title":"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results - Market Newsdesk","og_description":"PR Newswire Fourth quarter revenue of $11.3 million. Fourth quarter operating profit of $2.3 million. Annual revenue of $58.2 million. Annual operating profit of $3.8 million. TORONTO, Nov. 12, 2020 \/PRNewswire\/ &#8211; Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2020 fourth quarter and full year ended August 31, 2020. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. Financial Highlights (in $000s except per share amounts) THREE MONTHS ENDED AUGUST 31 YEAR ENDED AUGUST 31 2020 2019 2020 2019 Professional fees $11,128 $20,502 $56,690 $69,749 License fees $24 $71 $177 $700 Direct expense reimbursements $102 &hellip; Continue reading \"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-12T22:04:11+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1333528\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"16 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results","datePublished":"2020-11-12T22:04:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/"},"wordCount":3299,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1333528\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/","name":"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1333528\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg","datePublished":"2020-11-12T22:04:11+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/#primaryimage","url":"https:\/\/mma.prnewswire.com\/media\/1333528\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg","contentUrl":"https:\/\/mma.prnewswire.com\/media\/1333528\/The_Caldwell_Partners_International_Inc__Caldwell_Issues_Fiscal.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/caldwell-issues-fiscal-2020-fourth-quarter-and-full-year-financial-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Caldwell Issues Fiscal 2020 Fourth Quarter and Full Year Financial Results"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/380456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=380456"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/380456\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=380456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=380456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=380456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}