Tickers: XTSX:SNF
Tags: Food & Beverage
August 28, 2018 / TheNewswire / CALGARY, ALBERTA. Sunora Foods Inc. (the "Corporation") (TSX-V: SNF) - is pleased to announce the filing of its financial statements and management discussion and analysis for the three-month period ending June 30, 2018. These filings are available for review on SEDAR and the Corporation's website.
In addition, the Corporation has made application to initiate a Normal Course Issuer Bid ("NCIB") subject to TSX Venture Exchange approval. The Corporation is undertaking the NCIB because it believes its securities are undervalued. The NCIB will be conducted through PI Financial Corp. The Corporation seeks to acquire up to 5% of the issued and outstanding common shares. The maximum number of common shares that will be purchased is 2,172,716.
During the three-month period ended June 30, 2018 Sunora's highlights include the following:
??Revenue of $3,684,694 for the 2018 Quarter 2 versus revenue of $3,164,688 for the comparable 2017 Q2:
??Net Income for the three-month period ending June 30, 2018 of $46,840 versus a net loss of $243,175 for the comparable period ending June 30, 2017;
??Income from operations for the three-month period ending June 30, 2018 of $38,719;
??International sales of $1,104,463 for the 2018 Q2 versus international sales of $567,204 for the comparable period;
??Cash and Cash Equivalents of $3,300,529 for the period ending June 30, 2018;
Financial Highlights
Period ending June 30, 2018 | |
Sales | $3,684,694 |
Gross Margin | $170,167 |
Income before Taxes | $38,719 |
Net Income | $46,840 |
Earnings Per Share | $0.001 |
Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the "Sunora", "Sunera" and numerous private label brands.
For further information, please contact:
Dean Stuart
Investor Relations
T: (403) 617-7609
Steve Bank
Chief Executive Officer and President
T: (403) 247-8300
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
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