November 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 September 30, 2018. These filings are available for review on SEDAR and the Corporation’s website.

 

During the three-month period ended September 30, 2018 Sunora’s highlights include the following:

 

• Revenue of $3,926,619 for the 2018 Quarter 3 versus revenue of $3,396,872 for the comparable period ended September 30, 2017;

  Net Income for the three-month period ended September 30, 2018 of $99,654 versus net income of $20,118 for the comparable period ended September 30, 2017;

  Income from operations before taxes for the three-month period ended September 30, 2018 of $152,362 compared to $27,942 for the comparable period.

  International sales of $1,116,794 for the 2018 Q3 versus international sales of $749,942 for the comparable period;

  Cash and Cash Equivalents of $3,410,772 as at September 30, 2018 compared to $3,214,699 as at December 31, 2017;

  Share buy-back of 662,000 common shares under Normal Course Issuer Bid;

  Continued expansion of sales in southeast Asia including China.

 

Financial Highlights

	3-month period ended September 30, 2018
Sales	$3,926,619
Gross Margin	$292,863
Income before Taxes	$152,362
Net Income	$99,654
Earnings Per Share	$0.002

 

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.