CALGARY, ALBERTA / November 28, 2016 / TheNewswire -  Sunora Foods Inc. (the “Corporation” or “Sunora”) (TSX-V: SNF) is pleased to announce the filing of its financials statements and management discussion and analysis for the fiscal period ending September 30, 2016. These filings are available for review on SEDAR and the Corporation’s website.

 

During the fiscal period ended September 30, 2016 Sunora’s highlights include the following:

 

• -Net Income for the period ending September 30, 2016 of $122,103, the 4th consecutive quarter of increasing net income.

  -Gross margin for the period ending September 30, 2016 of $328,982 or 10.0% on sales of $3,281,156.

  -Revenue of $3,281,156 for the 2016 Q3 versus revenue of $2,451,477 for the comparable 2015 Q3.

  -Cash and Cash Equivalents of $3,091,780 for the period ending September 30, 2016 versus $2,620,566 at the end of December 31, 2015.

  -Inventory of $687,014 for the period ending September 30, 2016; due to inventory of bulk oil for future orders.

  -Continued development of sales channels in China and Southeast Asia with international sales of $850,414, the highest in the Corporation’s history.

 

Financial Highlights

	Period ending September 30, 2016
Sales	$3,281,156
Gross Margin	$328,982
Income before Taxes	$173,103
Net Income	$122,103
Earnings Per Share	$0.003

 

About Sunora Foods

 

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

E: dean@boardmarker.net

 

Steve Bank

Chief Executive Officer and President

T: (403) 247-8300

E: steve.bank@sunora.com

 

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.