Genterra Inc. reports third quarter financial results

(TSX Venture - "GIC" - Common)

TORONTO, Aug. 27 /PRNewswire-FirstCall/ - Revenues for the nine month period
ended June 30, 2009, increased to $2,352,782 from $1,973,097 in the comparable
2008 period. Net earnings for the period was $132,284 compared to $215,303 in
the comparable 2008 period. Earnings per share for the period was $0.007
compared with $0.011 in the comparable 2008 period.
The Company previously announced that its directors have approved a business
combination by way of a proposed amalgamation with Consolidated Mercantile
Incorporated, a company whose shares are traded on the Toronto Stock Exchange.
The transaction is subject to the approval of shareholders of both companies
and the approval of the regulatory authorities.

Genterra Inc. is a management and holding company whose assets include rental
real estate properties, equity investments and loans.

"Safe Harbor" statement under the Private Securities Reform Act of 1995: This
release may contain forward-looking statements which reflect management's
current views of future events and operation. These forward-looking statements
are based on assumption and external factors, including assumptions relating
to product pricing, competitive market conditions, financial data and other
risks or uncertainties detailed from time to time in the Company's filings
with the Securities and Exchange Commission. These forward-looking statements
represent the Company's judgement as of the date of this release and any
changes in the assumptions or external factors could produce significantly
different results.

Disclaimer: TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.

SOURCE Genterra Inc.

Stan Abramowitz, Secretary, (416) 920-0500