May 30, 2017 / 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 period ending March 31, 2017. These filings are available for review on SEDAR and the Corporation’s website.

 

During the fiscal year ended March 31, 2017 Sunora’s highlights include the following:

 

• - Revenue of $3,480,230 for Q1 2017 versus revenue of $2,687,379 for the comparable Q1 2016, an increase of 29.5%;

  - International sales of $526,157 for in Q1 2017 versus international sales of $284,251 for the comparable Q1 2016, due to increased distribution and increased demand for healthy foods in Asia;

  - Net Income for the period ending March 31, 2017 of $66,560 versus net income of $24,971 for the comparable period ending March 31, 2016, an increase of 167%;

  - Cash and Cash Equivalents of $3,133,920 and working capital of $3,942,885 at the end of Q1 2017.

  

Financial Highlights

 

	Period ending March 31, 2017
Sales	$3,480,230
Gross Margin	$232,734
Income before Taxes	$91,178
Net Income	$66,560
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.