SWEET NATURAL TRADING CO. LIMITED Toronto, Ontario--(Newsfile Corp. - November 28, 2017) - Xylitol Canada Inc. (TSXV: XYL) ("Xylitol") announces today that it has released its financial and operating results for the three and nine months ended September 30, 2017.
Highlights of the results include:
| Three months ended September 30, | Nine months ended September 30, | |||
| 2017 | 2016 | 2017 | 2016 | |
| Revenue | $ 1,627,207 | $ 1,587,923 | $ 4,886,542 | $ 5,414,015 |
| Gross Profit | $ 543,163 | $ 320,981 | $ 1,293,293 | $ 964,915 |
| Net Loss | $ (432,758) | $ (604,572) | $ (2,130,266) | $ (2,718,678) |
| EBITDA | $ (217,202) | $ (352,098) | $ (1,411,455) | $ (2,078,928) |
| Adjusted EBITDA* | $ (123,093) | $ (253,452) | $ (946,158) | $ (1,864,334) |
| Loss per share | $ (0.01) | $ (0.03) | $ (0.06) | $ (0.15) |
* EBITA adjusted for acquisition costs, share based payments, research and development costs.
The overall decrease in loss was achieved mostly from increasing gross margins, a reduction of corporate and general costs, and a reduction of selling costs.
"As we continue to reduce our losses quarter to quarter by increasing margins and executing cost rationalization programs, we remain focused on sales, marketing and branding to drive revenue and reach profitability. The recent $1,000,000 equity financing, together with our US$2,500,000 revolving credit facility, provides us with the required working capital to continue building the Company into 2018".
The full text of the Company's interim consolidated financial statements and related management's discussion and analysis ("MD&A") can be found at: www.sedar.com.
About Xylitol Canada Inc.
Xylitol Canada is a consumer packaged goods business focused on an assortment of natural sweetener based products including xylitol, coconut palm sugar and honey. The Corporation operates a 30,000-square foot facility in Colorado where it produces and packages a full catalog of natural sweetener products, most notably its natural sweetener alternatives. Xylitol Canada services major retail customers such as Loblaws, Walmart, Whole Foods, Costco, Sprouts and distributors including UNFI and KeHE.
For more information about Xylitol please contact:
Steven Haasz
CEO and a director of Xylitol Canada Inc.
416.804.8231
shaasz@xylitolcanada.com
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
