Sunora Foods files Q2 2018 financials, arranges NCIB

2018-08-28 14:30 MT - News Release


Mr. Steve Bank reports

SUNORA FOODS ANNOUNCES 2018 QUARTER 2 FINANCIAL RESULTS AND NORMAL COURSE ISSUER BID

Sunora Foods Inc. has filed its financial statements and management's discussion and analysis for the three-month period ending June 30, 2018. These filings are available for review on SEDAR and at the company'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
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.

© 2018 Canjex Publishing Ltd. All rights reserved.

Sunora Foods' Q2 sales at $3.52-million

2018-07-11 11:09 MT - News Release


Mr. Steve Bank reports

SUNORA FOODS ANNOUNCES Q2 2018 SALES FIGURES

Sunora Foods Inc. has released unaudited, preliminary sales figures for the second quarter ending June 30, 2018.

SALES FIGURES Q2 2018

Q2 2018 Q2 2017

Sales $3,520,361 $3,165,082
Canadian $45,560 $186,690
United States $2,503,946 $2,411,188
Overseas $970,854 $567,204
Stronger sales in the second quarter resulted from Sunora overseas initiatives. The company will be continuing its efforts in this direction.

About Sunora Foods Inc.

Sunora Foods is a food oil entity, based in Calgary, Alta., trading and supplying canola oil and other food oils in Canada and internationally under the Sunora, Sunera and numerous private label brands.

© 2018 Canjex Publishing Ltd. All rights reserved.

Sunora Foods Q1 2018 Results (Ending March 31st 2018)
Financials + Management Discussion. All Information can be found on Sedar.

Price: $0.14
Common Shares: 42,254,332
Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52%
Website: www.sunora.com

ASSETS
Cash: $3,118,936
Accounts Receivable: $1,798,422
Inventory: $265,555
Prepaid Expenses: $21,035
GST Recoverable: $9.770
Income Tax Receivable: $72.915
Total Assets: $5,286,633

LIABILITIES
Accounts Payable: $1,311,140
Customer Deposits: $87,704
Total Liabilities: $1,398,844

Q1 Performance
Sales: $3,936,012
Cost Of Sales: $3,654,250
G&A Expenses: $134,698
Net Income: $106,130
Earnings Per Share: $0.002

MD&A Highlights

Sunora had 13% higher sales for the three-month period ended March 31, 2018 than for the comparative three-month period. Most of this increase was attributable to increased overseas sales. The income from operations before taxes for the first quarter of 2018 was $147,064 compared to $86,129 for the same period of 2017. Sales were 13% higher and gross margin increased to 7.2% from 6.7% achieved in the first quarter of 2017. Gross margin percentage increased because of an increased proportion of packaged oil sales

Sunora's current assets consist of cash, accounts receivable, prepaid expenses, inventory and income tax recoverable. Cash is held for working capital requirements and to fund expansion costs for new markets and customers. A policy of conserving cash is rigorously followed by management in order to sustain operations and not hamper its marketing strategies. Accounts receivable increased by 38% but is in a comparable range to that of December 31, 2017, due to continuing efforts by management to control the Company’s credit and collections. The 38% decrease in inventory is due to a change in the mix of customer orders, with a decline in smaller orders shipped from warehouses.
The net income for first quarter of 2018 was $106,130 compared to $20,704 and $20,118 for the fourth and third quarters of 2017, respectively. The loss for the quarter ended June 30, 2017 of $243,178 was due to the settlement of the trade dispute. The increase in the net income for the first quarter is due to increased International sales, as well as higher gross margin and foreign exchange gains.

Outlook

Sunora maintains good relationships with customers in North America and overseas. These relationships continue to drive demand for food oil products from Canada, with Sunora well positioned to meet existing and additional demand. Management has focused on increasing visibility in emerging markets, with a specific focus on the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunora’s operations are impacted by geopolitical situations that may hold up deliveries as was experienced in recent quarters. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.

Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations. Management is also actively considering possible new products and trading opportunities that may benefit from its contacts in domestic and international markets. With the continuing positive momentum in the United States economy and new customers being added in Asia, Sunora is well placed for the future.

Sunora Foods earns $106,130 in Q1 2018

2018-05-29 09:19 MT - News Release


Mr. Steve Bank reports

SUNORA FOODS ANNOUNCES 2018 QUARTER 1 FINANCIAL RESULTS

Sunora Foods Inc. has released its financial statements and management's discussion and analysis for the three-month period ending March 31, 2018. These filings are available for review on SEDAR and the company's website.

During the three-month period ended March 31, 2018, Sunora's highlights include the following:

Revenue of $3,936,012 for the 2018 Quarter 1 versus revenue of $3,480,230 for the comparable 2017 first quarter, an increase of 13.1%;
Net Income for the three-month period ending March 31, 2018 of $106,130 versus net income of $66,560 for the comparable period ending March 31, 2017, an increase of 59.5%;
Income from operations for the three-month period ending March 31, 2018 of $147,064;
International sales of $910,522 for the 2018 first quarter versus international sa les of $526,157 for the comparable period, an increase of 73.1%;
Cash and Cash Equivalents of $3,118,936 for the period ending March 31, 2018;
After the end of the first quarter, Sunora initiated a significant commodity-related business with a major Asian company in the agricultural sector.
FINANCIAL HIGHLIGHTS

Sales $3,936,012
Gross margin 281,762
Income before taxes 155,334
Net income 106,130
Earnings per share 0.0025
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.

© 2018 Canjex Publishing Ltd. All rights reserved.

Sunora Foods Initiates Agricultural Commodity Business with Major Asian Company

2018-05-17 07:31 MT - News Release


(via TheNewswire)

CALGARY, ALBERTA / TheNewswire / May 17, 2018 - Sunora Foods Inc. (the " Corporation ") (TSX-V: SNF) - is pleased to announce the initiation of significant commodity related business to a major Asian company in the agricultural sector. Sunora anticipates that it will experience continuing growth in this area of business.

Sunora Foods has been supplying and trading food oils for over 25 years, and with its marketing and development strategy is now entering a new market with significant demand. With its financial resources and experience in trading, Sunora will takes step to establi sh itself as a preferred choice supplier.

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.

Copyright (c) 2018 TheNewswire - All rights reserved.

© 2018 Canjex Publishing Ltd. All rights reserved.

Sunora Foods Inc. Year End Results. Financials + Management Discussion Highlights

All information can be found at www.sedar.com
Price: $0.16
Common Shares: 42,254,332
Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52%
website: www.sunora.com

Financials

ASSETS
Cash: $3,214,699
Accounts Receivable: $1,304,280
Inventory: $426,631
Prepaid Expenses: $31,285
GST Recoverable: $10,620
Income Tax Recoverable: $116,407
Deferred Tax Asset: $159,545
Total Assets: $5,263,467

LIABILITIES
Accounts Payable: $1,256,855
Customer Deposits: $72,502
Total Liabilities: $1,329,357

Sales Performance
Revenue: $13,935,676
Net Loss: $121,636
**note** Sunora Foods made a profit of $238,065. However, this was lost due to a legal settlement from 2015. See MD&A Highlights for more information.

MD&A Highlights
Sunora’s sales for the year ended December 31, 2017 were positively impacted by an increase of 13.9% over the previous year due to sales growth in the United States. The net comprehensive loss in the year ended December 31, 2017 of $135,795, compared to income $282,794 for the previous year, was principally due to the claim settled in quarter 2 of 2017. A foreign exchange loss of $60,100 was also incurred in 2017 compared to $33,456 in 2016. In addition, the total gross margin for the year ended December 31, 2017 declined by 12% from previous year despite the 13.9% increase in sales. The lower total gross margin can be attributed to a lower percentage of sales in packaged products that have a higher value added.

On December 31, 2015, a statement of claim was filed against the Corporation by one of its vendors who alleged that Sunora wilfully did not accept deliveries of soybean oil pursuant to a contractual arrangement. The vendor claimed USD $506,798 in damages relating to losses allegedly suffered. Sunora denied any responsibility for such a claim. However, subsequent to June 30, 2017, on the recommendation of legal counsel, management settled the claim for CDN $390,000 which was completed in late August 2017. The claim settlement comprises the full cost of the claim and the related legal fees which were accrued in the financial statements for the quarter ended June 30, 2017 and is reflected in the year ended December 31, 2017.

Sunora's sales to the United States have recently trended higher in comparison to sales in Canada. Overseas markets are continuing to grow and provide greater long term stability to sales. The growth of sales in emerging markets, with growing awareness of healthy food choices by the expanding middle classes, is a positive trend for Sunora. Overseas sales in the fourth quarter generally increase because of the timing of the New Year celebrations in Asia.

Sunora has increased sales over the years due to its marketing efforts. Sunora has established strong relationships with sales staff and given them more flexibility and support as mutual trust has developed in these relationships. In North America, Sunora has outstanding commissioned brokers who have introduced new customers to the Company. Sales to independent distributors have also grown for Sunora, mostly in countries overseas, which has given Sunora entry into many foreign markets.
Sales for the fourth quarter of 2017 were 14.6% higher than the third quarter of 2017 due to the increase in U.S. and overseas sales. Third quarter sales were 7.3% higher than the second quarter. Second quarter sales were 9% lower than first quarter

Cost of sales in the fourth quarter of 2017 was 14.8% higher than third quarter due to increased sales. Third quarter cost of sales was 9.3% higher than the second quarter due increased sales. Second quarter cost of sales was 10% lower than the first quarter due to 9% decrease in sales. Gross margin for the fourth quarter of 2017 was 6.2% compared to 6.4% for the third quarter. Second quarter gross margin was 8.0% compared to 6.7% for the first quarter ended March 31, 2017.
General and administration expenses were higher in the fourth quarter of 2017 due to various charges recorded at year end, including audit and accounting fees and profit sharing bonus. Net income for the fourth quarter was comparable to the third quarter. As a result of the settlement of a legal claim in the second quarter, there was a loss in the second quarter and it was substantially down from the first quarter.

Outlook
Sunora maintains strong relationships with strategically located customers in North America and overseas. These relationships continue to drive demand for food oil products from Canada, with Sunora well positioned to meet existing and additional demand. Management has focused on increasing visibility in emerging markets, with a specific focus on the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunora’s operations, however, may be impacted by geo-political situations that can hold up sales as was experienced in the fourth quarter of 2015. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.
Management is actively identifying and analyzing operations that might increase sales and profitability for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Management is also actively considering possible new products that may benefit from new domestic and international markets. With continuing strength in the United States economy and new customers being added in Asia, Sunora is well positioned to grow and increase its sales.

Sorry the news didn't post properly, here is a link to it: https://www.morningstar.com/news/the-news-wire-ca/TheNewsWire_20180129B2aFM2mP/sunora-foods-announces-year-end-q4-sales-figures.html

Sunora Foods announces Year End & Q4 Sales Figures

2018-01-29 05:01 MT - News Release


(via TheNewswire)

January 29, 2018 / TheNewswire / CALGARY, ALBERTA. Sunora Foods Inc. (the " Corporation ") (TSX-V: SNF) is pleased to announce unaudited, preliminary sales figures for the fourth quarter and for the year ending December 31, 2017.

Sales Figures Q4 2017 and Year End (Y/E) 2017

Q4 2017

Q4 2016

% chg

Sales

$3,894,809

$3,444,553

13.1

Canadian

$281,450

$427,003

(34.1)

United States

$2,842,404

$2,034,858

40.0

Overseas

$770,955

$982,693

(21.5)

Y/E 2017

Y/E 2016

% chg

Sales

$13,937,902

$12,241,054

13.9

Canadian

$1,032,144

$1,042,767

(1.0)

United States

$10,290,964

$8,500,528

21.1

Overseas

$2,614,794

$2,697,760

(3.1)

With the recent conclusion of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership ("CPTPP") discussions, Sunora has enhanced marketing opportunities to increase sales for Sunora branded products, particularly its canola oil. The CPTPP countries have 495 million people and account for CAD $13.5 trillion or 13.5% of global gross domestic product ("GDP"). The government of Canada estimates that this agreement will benefit Canada by boosting domestic GDP by CAD $4.2 billion.

Sunora has made shipments to the following countries which are part of the CPTPP: Japan, Malaysia, New Zealand, Singapore and Vietnam.

Additional information on the CPTPP can be viewed at:

http://www.international.gc.ca/trade-commerce/trade-agreements-accords-commerciaux/agr-acc/tpp-ptp/index.aspx?lang=eng&menu_id=95

Sunora also recently initiated the delivery of Sunora branded sunflower oil from a major South American supplier to China. The delivery of this product occurred in Q1 2018, just prior to the Chinese New Year in China. It is expected that additional deliveries of sunflower oil will occur in 2018 and beyond.

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.

Copyright (c) 2018 TheNewswire - All rights reserved.

© 2018 Canjex Publishing Ltd. All rights reserved.

18 - 22 FEBRUARY 2018 DUBAI WORLD TRADE CENTRE

https://www.gulfood.com/exhibitors/agro-processors-and-atomospheric-gases-pvt-ltd

In 2006, SMART Canola Oil was launched in collaboration with Sunora Foods, Canada. Currently, APAG is diversifying with the introduction of the SMART range of premium quality sauces. APAG strives to deliver excellence at all levels.

http://apag.com.pk/

Sunora Foods Q3 Results ( Ending September 30th 2017 )
All Information Below Can Be Found At www.sedar.com

Price: $0.15
Common Shares: 42,254,332
Retail Shares Available: 12,254,332
Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52%
Website: www.sunora.com

Balance Sheet For Q3

ASSETS
Cash: $3,139,881
Accounts Receivable: $992,672
Inventory: $351,977
Prepaid Expenses: $11,011
Goods & Services Tax Recoverable: $7,331
Income Tax Recoverable: $141,767
Deferred Tax Asset: $159,545
Total Assets: $4,804,184

LIABILITIES
Accounts Payable: $852,584
Customer Deposits: $56,328
Total Liabilities: $908,912

Quarter – Sales – Profit
Q1 2017 - $3,480,230 - $55,560
Q2 2017 - $3,164,688 - $82,525
Q3 2017 - $3,396,872 - $20,118

Year – Sales – Profit/(Loss) – Additional Information
2017(Q1-Q3) - $10,041,788 – ($156,499) –Loss from $434,000 settlement(2015 Dispute)
2016 - $12,254,101 - $282,794 - Currency loss of $34,000 or else net income was stable
2015 - $10,815,959 - $502,182 - Net income of $200,000 affected by currency exchange
2014 - $13,235,038 - $189,073 - Listing expenses incurred from merger with capital pool

MD&A Highlights

Outlook

Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations.

Management is also actively considering possible new products that may benefit from its contacts in domestic and international markets. With the continuing positive momentum in the United States economy and new customers being added in Asia, Sunora is well placed for the future.

Sunora maintains good relationships with customers in North America and overseas. These relationships continue to drive demand for food oil products from Canada, with Sunora well positioned to meet existing and additional demand. Management has focused on increasing visibility in emerging markets, with a specific focus on the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunora’s operations are impacted by geopolitical situations that may hold up deliveries as was experienced in recent quarters. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.

Sunora had 14% higher sales for the nine-month period ended September 30, 2017 than the comparative nine- month period. Sales were positively impacted by stronger results in the United States and Canada and continued positive momentum overseas.

The loss and comprehensive loss for the nine months ended September 30, 2017 was primarily the result of the settlement of a trading dispute. The income from operations before taxes and the claim was $201,643 compared to $282,583 for the same period of 2016. Although sales were 14% higher, gross margin declined from 8.9% to 7.0% in this nine-month period. Gross margin percentage declined because of a higher proportion of bulk oil sales.

The legal settlement arises from a statement of claim filed against the Corporation in 2015 by one of its vendors, who alleged that Sunora wilfully did not accept deliveries of soybean oil pursuant to a contractual arrangement. The vendor claimed USD $506,798 in damages relating to losses allegedly suffered. Sunora denied responsibility for such a claim. However, on the recommendation of legal counsel, management settled the claim for CDN $390,000 to be paid by August 31, 2017. The claim settlement comprises a full provision for the claim including already incurred and expected legal fees.

Canola Council of Canada completes successful China trip

https://www.manitobacooperator.ca/news-opinion/news/canola-council-of-canada-completes-successful-china-trip/

Canola Council of Canada completes successful China trip
Group took part in a Canadian trade mission led by federal ag-minister Lawrence Macaulay

The Canola Council of Canada (CCC) is feeling pleased as it prepares to return to Canada following a trade mission to China.

“We feel we’ve had a very successful week of promoting canola in China. As you know it’s a very important market, it’s a growing market for canola,” said Jim Everson, president of CCC, over a conference call from China on Nov. 20.

The group took part in a Canadian trade mission led by Federal Agriculture Minister Lawrence MacAulay. CCC hosted several events while there, including a canola dialogue in Beijing Monday. The dialogue was capped off with the signing of a Memorandum of Understanding (MOU) between the Canola Council of Canada and China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce and Animal By-Products (CFNA).

The MOU is a co-operative arrangement to share information between the two organizations. As well Everson said there will be co-operation on future events held in the two countries by the organizations.

“The CFNA will undertake to assist us in reaching out to different officials in the Government of China and different industry people,” he said.

However the MOU didn’t include any commitments with respect to canola volumes or guarantees in regards to trade.

China is one of the largest markets for Canadian canola. In 2016, C$2.7 billion worth of canola was exported to China, according to CCC. China imported 4.8 million tonnes of Canadian canola in 2016, including 3.5 million tonnes of seed, 600 thousand tonnes of oil and 660 thousand tonnes of meal.

Last week CCC hosted two other events in Guangzhou – a canola meal seminar and canola oil media event.

The canola meal seminar focused on research about how canola meal-fed pigs grow as well as soybean meal-fed pigs.

“(Chinese feed millers were) able to go away from this seminar with an understanding of inclusion levels of up to 30 per cent canola meal, which is at least double what they are presently putting into (swine rations),” said Bruce Jowett, vice-president of market development with CCC, over the conference call.

The canola oil event was designed to teach the Chinese media about the reported nutritional and health benefits of canola oil. Speakers were able to tell the media about the role canola oil can have to help in regards to cardiovascular disease (which is a leading cause of death in China), and diabetes (which 20 per cent of the Chinese population has).

“So connecting the challenges that they have with a product such as canola oil and how it can benefit the Chinese population,” Jowett said.

Other trade issues such as the ongoing blackleg issues were talked about briefly as well during the trip.

“The subject came up. But really only in terms of going over again or repeating the commitment that we have each made from the Chinese side and the Canadian side to taking efforts jointly to mitigate against any kind of concerns with blackleg being transferred from Canada to China,” Everson said.

Sunora Foods Report By Simply Wallstreet:

General Report -> https://simplywall.st/news/2017/11/04/who-are-sunora-foods-incs-tsxvsnf-major-shareholders/

More Detailed Report -> https://simplywall.st/TSXV:SNF/sunora-foods?unique_symbol=TSXV:SNF&l=1&t=bjarefuvc&s=1&id=174316&utm_source=post&utm_medium=finance_user<=Conc_ticker&utm_campaign=Conc_ticker
(Requires Free Membership)

Here's the breakdown of sales based on the numbers yesterday. I emailed the company about why international sales are down year over year and they said some orders from Q3 will be in Q4 and the Sunflower oil sales should also help increase revenue overall. Otherwise US and Canadian sales did go up. Less than a month to go before actual numbers are out on SEDAR.

SNF 2017 Comparison For Sales Per Area
(Information From SEDAR)

International/China
Q1 2016 - $284,251
Q1 2017 - $526,157

Q2 2016 - $574,619
Q2 2017 - $567,204

Q3 2016 - $850,414
Q3 2017 - $750,478

USA
Q1 2016 - $2,167,415
Q1 2017 - $2,701,689

Q2 2016 - $2,054,390
Q2 2017 - $2,410,793

Q3 2016 - $2,257,456
Q3 2017 - $2,309,240

Canada
Q1 2016 - $235,713
Q1 2017 - $252,384

Q2 2016 - $206,764
Q2 2017 - $186,691

Q3 2016 - $173,286
Q3 2017 - $311,619

October 31, 2017 – CALGARY, ALBERTA. Sunora Foods Inc. (the “Corporation”) (TSX-V: SNF) is
pleased to announce unaudited, preliminary sales figures for the nine months and third quarter ending September 30, 2017.

Nine Months Sales 2017: $10,016,255
Nine Months Sales 2016: $8,796,501
Third Quarter Sales 2017: $3,370,406
Third Quarter Sales 2016: $3,278,801

Nine Months 2017 Sales Breakdown
Canada $750,694
United States $7,421,722
Overseas $1,843,839

Initiation of Sunflower Oil Sales to China

In the fourth quarter, Sunora will begin shipping containers of sunflower oil to China, to fulfill orders received in the third quarter. The shipping of sunflower oil is a new product line in China for Sunora, and provides a new sales channel for future international customers. Sunora continues to evaluate new product lines for distribution in Canada and international locations through its portfolio of global agents.

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

http://www.producer.com/2017/09/ag-note-sept-28-2017/

AG Note: Sept. 28, 2017

Posted Sep. 28th, 2017

Alberta showcased ?at Taste of Canada
Six Alberta companies participated in the recent Taste of Canada held in Boston, Massachusetts: Left Field Foods, Canyon Creek Soup, Gabriella’s Kitchen, Oh! Naturals Flavoured Snacks, Stellas and Sunora Foods Ltd.

The event attracted a record 56 Canadian food and beverage exporters from eight Canadian provinces.

With an eye for distinctive Canadian flair, the companies promoted their products in various grocery categories such as bakery and deserts, dips, spreads and seasonings, edible oils, entrees and ready meals, non-alcoholic beverages, specialty foods and snacks.


Thirty-four American buyers from several states met with the companies in a series of one-on-one meetings to sample products and discuss potential business opportunities.

For more information about the event, contact Shelly Nguyen at 780-422-7103 or Dusan Rnjak at 780-638-3851.

$4.4 million ?for ag innovation
The Canadian government recently announced $4.4 million in funding for projects it says will help expand markets and ensure farmers stay innovative.

Of that, $2.2 million will go to projects that support the cattle industry in Alberta and across Canada.

The cattle projects include:

$839,485 for the Canadian Cattlemen’s Association to explore the use of remote sensing as a tool for forage crop insurance
$901,240 to help the Alberta Beef Producers develop satellite data to improve forage insurance
$225,000 to help the Canadian Angus Association develop tools to enhance breeding cattle
$205,500 for the National Cattle Feeders Association to develop and implement a national feedlot animal care assessment ?program
The remaining funds, which make up slightly more than $2.2 million, will support projects the government says will support innovation, market development, emergency planning, competitive pricing, animal-care assessment and farm software development.

Vet receives bovine ?welfare award
Dr. Joyce Van Donkersgoed of Coaldale, Alta., was recently named recipient of the 2017 Metacam 20 Bovine Welfare Award for her leadership in the Canadian beef industry to improve the welfare of feedlot animals.

The award is presented annually by the Canadian Association of Bovine Veterinarians in partnership with Boehringer Ingelheim (Canada) Ltd.

Van Donkersgoed operates a private feedlot practice in southern Alberta, where she provides emergency, herd health and production services, as well as research and regulatory services to her clients.

She is currently leading the development of a certified feedlot animal auditor program and is a trainer for feedlot auditors.

She emphasizes continued education and provides regular training on a range of topics including how to conduct animal welfare assessments.

Robin Speziale, author of Market Masters, which is one of the top selling books on Amazon and other websites is recommending Sunora Foods. Check out his video and you can even see a link to his book which has a strong recommendation on it through Amazon and other websites. So this isn't just a random individual, it's someone that knows the markets and chose SNF, along with 15 other companies out of all the micro caps on the venture and TSX.

Youtube Video:

Sunora Foods Q2 Results(Ending June 30th2017)
All Information Below Can Be Found At www.sedar.com

Price: $0.175
Common Shares: 42,254,332
Retail Shares Available: 12,254,332
Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52%
Website: www.sunora.com

Balance Sheet For Q2

ASSETS
Cash: $3,356,010
Accounts Receivable: $1,090,006
Accrued Interest: $2,527
Inventory: $343,899
Prepaid Expenses: $9,647
Goods Tax Recoverable: $22,259
Income Tax Recoverable: $125,727
Deferred Tax Asset: $159,545
Total Assets: $5,119,620

LIABILITIES
Accounts Payable: $1,181,778
Customer Deposits: $68,743
Total Liabilities: $1,250,521

Q2 Sales
Revenue: $3,164,688
Gross Margin: $253,684
Income From Operations: $82,525
Claim Settlement: -$434,684 – One time expense
Income Tax Recovery: $108,984
Net Loss For Quarter: -$243,175

Year – Sales – Profit/(Loss) – Additional Information
2017(Q1/Q2) - $6,644,917 – ($176,616) – Increased sales Y/O/Y, loss from settlement
2016 - $12,254,101 - $282,794 - Currency loss of $34,000 or else net income was stable
2015 - $10,815,959 - $502,182 - Net income of $200,000 affected by currency exchange
2014 - $13,235,038 - $189,073 - Added listing expenses incurred from merger with capital pool

MD&A Highlights

The legal settlement arises from a statement of claim filed against the Corporation in 2015 by one of its vendors, who alleged that Sunora wilfully did not accept deliveries of soybean oil pursuant to a contractual arrangement. The vendor claimed USD $506,798 in damages relating to losses allegedly suffered. Sunora denied responsibility for such a claim. However, on the recommendation of legal counsel, management settled the claim for CDN $390,000 to be paid by August 31, 2017. The claim settlement comprises a full provision for the claim including already incurred and expected legal fees.

Earnings (loss) per share - basic and diluted for the six months ended June 30, 2017 were $(0.0004) from $0.002 for the same period last year as a direct result of the claim settlement. Without the claim, earnings per share – basic and diluted for the six months to June 30, 2017 would have been significantly better than the same period of the prior year.

Sunora had 20% higher sales for the six-month period ended June 30, 2017 than the comparative sixmonth period. Sales were positively impacted by stronger results in the United States and continued positive momentum overseas.

The loss and comprehensive loss for the six months ended June 30, 2017 was primarily the result of the settlement of a trading dispute. The income from operations before the claim was $163,369 compared to $104,024 for the same period of 2016. Although sales were 20% higher, gross margin declined from 8.1% to 7.3% in this six-month period. Gross margin percentage declined because of a higher proportion of bulk oil sales.

Outlook

Sunora maintains good relationships with customers in North America and overseas. These relationships continue to drive demand for food oil products from Canada, with Sunora well positioned to meet existing and additional demand. Management has focused on increasing visibility in emerging markets, with a specific focus on the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunora’s operations are impacted by geopolitical situations that may hold up deliveries as was experienced in recent quarters. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.

Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations.

Management is also actively considering possible new products that may benefit from its contacts in domestic and international markets. With the continuing positive momentum in the United States economy and new customers being added in Asia, Sunora is well placed for the future.

Sunora Foods earns $82,525 in Q2 2017

2017-08-29 08:06 MT - News Release

Mr. Dean Stuart reports

SUNORA FOODS ANNOUNCES SECOND QUARTER FINANCIAL RESULTS

Sunora Foods Inc. has filed its financial statements and management discussion and analysis for the second quarter ending June 30, 2017. These filings are available for review on SEDAR and the corporation's website.

During the second quarter ended June 30, 2017, Sunora's highlights include the following:

-Revenue of $3,164,688 for Q2 2017 versus revenue of $2,835,773 for the comparable Q2 2016, an increase of 11.6 per cent;
-International sales of $567,204 for in Q2 2017 versus international sales of $574,619 for the comparable Q2 2016;
-Net income from operations for the three-month period ending June 30, 2017, of $82,525;
-Trade dispute settled for $434,684, including estimated legal costs;
-Net comprehensive income after settlement of trade dispute of negative $243,175 for the Q2 2017 period;
-Cash and cash equivalents of $3,356,010 and working capital of $3,709,554 at the end of Q2 2017.

FINANCIAL HIGHLIGHTS

Second quarter
ending June 30, 2017

Sales $3,164,688
Gross margin $253,684
Net income from operation $82,525
Net comprehensive income ($243,175)
Earnings per share ($0.006)
About Sunora Foods Inc.

Sunora Foods is a food oil entity based in Calgary, Alta., 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.

© 2017 Canjex Publishing Ltd. All rights reserved.

Less than 10 business days left to go before SNF’s Q2 results are out. In the meantime, I found a website that just started following Sunora Foods, see below:

https://robinrspeziale.com/2017/08/18/my-microcap-portfolio-experiment-investing-in-16-canadian-micro-cap-stocks/

MY MICROCAP PORTFOLIO EXPERIMENT – INVESTING IN 16 CANADIAN MICRO-CAP STOCKS

Investing

I’ve decided to experiment in the Canadian Micro-cap space. Micro-caps are those companies on the TSX and TSX Venture Exchange that trade below $100 million market capitalizations. Out of hundreds of companies, I selected only 16 stocks (see below – do you own any of these stocks too?). I looked for micro companies that can possibly turn into multi-baggers on the foundation of their unique product/service, large addressable market, long runway to grow, exceptional management, high/steady gross margins, high revenue growth, and in most cases – profitable, cash flow positive, high return on equity (ROE), and return on capital (ROIC) operations.
Check out my MicroCap Portfolio (est. Aug 2017) below – 16 micro cap stocks. I’ll provide updates in the future – hopefully it all works out. I’m well aware that some micro-caps might fail, while others will be average performers, but it’s the 2-3 that possibly turn into multi-baggers that I’m really excited about. Overtime, I’ll invest more capital into the winners, and trim or eliminate the losers, if any decline more than 50%. We’ll see – time will tell. (note – I previously owned 4 micro-cap stocks below – Intrinsync Technologies, Greenspace Brands, Ten Peaks Coffee, and Ceapro, but have now segmented them into my new MicroCap Portoflio).
My Canadian MicroCap Portfolio (est. Aug 2017)
Namsys Inc
Vigil Health Solutions
Pioneering Technology Corp
Vitreous Glass Inc
AirIQ Inc
DMD Digital Health Connections Group Inc
Redishred Capital Corp
Sunora Foods Inc
Bevo Agro Inc
Imaflex Inc
Diamond Estates Wines & Spirits Inc
CVR Medical Corp
Intrinsync Technologies
Greenspace Brands
Ten Peaks Coffee
Ceapro

2 to 3 weeks to go until financial results are out for Sunora Foods. Until then I wanted to post a very interesting article on how Canola oil can help clean up tons of mercury tainted tails and waste water around the world:

http://www.mining.com/cooking-oil-help-clean-mercury-mining-sites-researchers-say/

Cooking oil could help clean up mercury at mining sites, researchers say

Researchers at Flinders University in Australia published a study where they demonstrate how a canola oil polymer, when combined with sulphur, can trap mercury metal, mercury vapour and highly toxic organo-mercury compounds.

Mercury and mercury-containing materials are commonly used in small-scale mining operations to extract gold from ore. However, the liquid element is also employed by many chloralkali plants and in certain farms as fungicide.

By combining second-hand cooking oil and sulphur – a common, low-cost byproduct from petroleum production –, the scientists were able to produce a new kind of rubber-like polymer capable of absorbing mercury pollution in soil, water and even the air. The novel substance even changes colour to indicate it has done its job.

“Because our mercury-capturing material is made from waste, our goal is to provide a cost-effective and technically simple material for cleaning up mercury pollution at gold mines,” said lead-researcher Justin M. Chalker in a press release.

Artisanal mining is the largest producer of mercury emissions worldwide and, according to the United Nations Environment Programme, mercury rich tailings and exposure to mercury vapour threaten the health of nearly 15 million people involved in this field of work.

“This pernicious problem,” Chalker said, “is causing brain damage and loss of IQ points in unborn children.”

The scientist's mercury-binding polymer is already licensed for sale to Kerafast, a US-based reagent company. Meanwhile, the Flinders University team that created it is raising funds to develop a pilot reactor and production plant in South Australia.

Sunora Foods estimates Q2 2017 sales of $3.26-million

2017-07-06 09:46 MT - News Release

Mr. Dean Stuart report

SUNORA FOODS SECOND QUARTER SALES UPDATE AND ANNUAL GENERAL MEETING RESULTS

Sunora Foods Inc. has released unaudited, preliminary sales figures for the second quarter and six months ending June 30, 2017.

Second Quarter Sales 2017: $3,264,801

Second Quarter Sales 2016: $2,833,043

Six Months Sales 2017: $6,745,567

Six Months Sales 2016: $5,517,699

Six Months 2017 Sales Breakdown

Canada $479,648

United States $5,081,684

Overseas $1,184,234


The Corporation is also pleased to announce results from the Annual General and Special Meeting held on July 5, 2017.

Yes (%) No (%) Abstain (%)
Set number of directors at four 92.28 7.722 0.00
Steve Bank 99.92 0.00 0.08
James Lawson 91.25 0.00 8.75
Alan Chan 91.25 0.00 8.75
Eric Dahlberg 91.25 0.00 8.75
Appointment of Auditors 100.00 0.00 0.00
New Stock Option Plan 99.98 0.00 0.00
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.

Copyright (c) 2017 TheNewswire - All rights reserved.


© 2017 Canjex Publishing Ltd. All rights reserved.

http://business.financialpost.com/news/agriculture/canola-revolution-how-an-experiment-turned-canadian-farmers-into-cooking-oil-kings

Canola revolution: How an experiment turned Canadian farmers into cooking oil kings

In the heart of Canada’s bread basket, a Richardson International Ltd. processing plant stands as a testament to what may be the country’s most successful agricultural experiment.

Farmers across the Prairie Provinces are planting a record acres of canola, a crop that didn’t exist about four decades ago but now is the nation’s biggest, sown on more land than spring wheat. Richardson was the first company to market canola oil. It has since expanded capacity at factories like the one in Lethbridge, Alberta, as global demand exploded and Canada became the top exporter of an oilseed used in everything from salad dressing to french fries.

Richardson’s facility now spans six square blocks — a warren of crushing machines, conveyor belts, railroad links and grain silos devoted entirely to canola. After a C$120 million upgrade to expand capacity by 55 percent, it will be able to process 700,000 metric tons annually, boosting exports of oil and related products including margarine and buttery popcorn topping.

“It’s almost a constant turnover” of jugs, barrels and bottles of oil shipped to grocers, fast-food restaurants, hospitals and bakers every day of the work week, said Steve Scott, the plant’s maintenance manager. Pointing to a tanker car capable of hauling 80 tons, he said, “a big potato-chip plant will be taking a couple of these a week.”

Canadian scientists invented canola in 1974 by breeding out undesirable traits from the rapeseed plant, though it didn’t get the name “canola” until 1978.

The seed has more than twice as much oil as a soybean, and canola oil has become popular in cooking and deep frying. It’s rich in heart-healthy fatty acids found in salmon and tuna that lower bad cholesterol and help control blood sugar, with no artery-clogging trans fats. Canola oil has about 7 percent saturated fat, about half as much as olive oil and a fraction of what’s in palm oil, according to the Canola Council of Canada.

“The healthy oil profile that canola enjoys is going to keep it popular,” said David Reimann, a market analyst in Winnipeg, Manitoba, for Cargill Ltd., the world’s largest agricultural company. “It’s a huge, huge market and can certainly tolerate a lot more acreage and production.”

Farmers are doing just that. While planting is a little behind schedule because of wet weather, Canadian growers eventually will sow 22 million acres of canola this year, the most ever, government data show. The planting season will end in a few weeks.

Production of canola probably will reach a record 18.75 million tons, more than half of which will be exported to big buyers like the U.S., China and Mexico, the government’s Agriculture and Agri-Food Canada said in a May 24 report. Demand also is growing, with global imports of rapeseed set to jump 5.2 percent to a record 16.18 million tons, the U.S. Department of Agriculture estimates, with Canada accounting for about 68 percent of total shipments.

Canola prices have held up better than competing oilseeds as supplies increased. Canola now fetches a premium to soybeans, and it has outperformed palm oil, which is down almost 20 percent in the past year.

Still, farmers have plenty of incentive to supply more as domestic demand grows, with Canadian processors poised to crush a record 9 million tons in the 12-month season through July, and a similar amount in the next year, according to the the nation’s agriculture ministry.

The global market for rapeseed, which includes canola, reached C$8.9 billion last year, a 61 percent increase from 2011, and is forecast to grow another 51 percent from 2016 to 2021, the most of any edible oil, including olive oil and sunflower oil, according to data from Euromonitor International. Since canola oil is not just for human consumption, part of that growth may go toward other uses such as animal feed, said Hope Lee, a senior analyst.

Rising demand for healthier cooking oils from North American consumers and a growing middle class in Asia has helped boost exports, said Bruce Jowett, vice president of market development for the Canola Council of Canada. That, in turn, has prompted farmers to continue to seed more acres and for processors to invest “significantly” in increasing the amount of oil and meal they can export, he said.

In 2015, the Food and Drug Administration determined that partially hydrogenated oils, the main source of trans fats that contribute to heart disease, are not generally recognized as safe. Many companies — including McDonald’s Corp. and Unilver Plc — have committed to phasing out trans fats from their food products.

Processing capacity has more than doubled in the past decade. The industry, including Richardson International, Bunge Ltd. and Archer-Daniels-Midland Co., has spent about C$1 billion to upgrade and expand. Canada may produce as much as 26 million tons of canola by 2025, a 41 percent increase from 2016, Jowett said.

“Canola is the healthiest oil that’s out there,” Jowett said. “As consumers become more educated about their health, they can see that consuming less saturated fat is a good thing.”

Sunora Foods May 2017 Export Catalogue (Alberta Government)

http://www1.agric.gov.ab.ca/$Department/deptdocs.nsf/all/trade14246/$FILE/export_catalogue_may2017.pdf

On Page 57

Sunora Foods, based in Calgary, Alberta, Canada, has its roots in canola oil. The very name – Sunora – is derived from the sun golden canola flowers that grow in the fields in the shadow of the Canadian Rockies. Sunora is internationally recognized for its canola oil and related canola products and is a major Canadian exporter of food oil. Although Sunora Foods has its roots in canola oil, many customers turn to Sunora for other food oils and canola margarine. To these customers, Sunora means corn oil or soybean oil or sunflower oil. With its international trading capabilities, the company is often the best and most cost-effective source of corn oil, soybean oil and sunflower oil.

Sunora Foods Q1 Results. Financials + MD&A Highlights

Price: $0.20
Common Shares: 42,254,332
Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52%
Website: www.sunora.com

Financials

Assets
Cash: $3,133,920
Accounts Receivable: $1,254,247
Accrued Interest: $1,537
Inventory: $533,623
Prepaid Expenses: $15,760
Goods & Services Tax Recoverable: $10,545
Income Tax Recoverable: $118,130
Deferred Tax Asset: $159,545
Total Assets: $5,227,307

Liabilities
Accounts Payable: $1,084,857
Customer Deposits: $40,020
Total Liabilities: $1,124,877

NAV = $5,227,307 - $1,124,877 = $4,102,430 or ($0.097) or $0.10c a share net asset value. Junior earnings based companies with established positive cash flow usually trade at a 4-5 times multiple, if not more. Even exploration based companies with no revenue and high-risk trade at a greater multiple than SNF, which is a 27 year old established company(see their website)

Q1 2017 Sales Breakdown
Sales: $3,480,230 (last year sales - $2,687,379)
Income Before Tax: $91,178
Net Income: $66,560 (last year profit - $24,971)

Breakdown of sales by region
USA - $2,701,689 (Last year - $2,167,415)
Canada - $252,384 (Last year - $235,713)
International - $526,157 (Last year - $284,251)

Previous FULL Years Of Sales
2014 - $13,235,038 - $189,073 - Added listing expenses incurred from merger with capital pool
2015 - $10,815,959 - $502,182 - Net income of $200,000 affected by currency exchange
2016 - $12,254,101 - $282,794 - Currency loss of $34,000 or else net income was stable y/o/y

MD&A Highlights

Sunora Foods Inc. (“Sunora Foods”) is a Calgary-based trader and supplier of canola, olive and other food oils. Currently, the Company is a relatively modestly-sized player participating in an international business populated by some of the largest companies in the world. It has successfully maintained a niche position that has been achieved by building strong relationships with its suppliers and customers through a history of reliable and responsive service. While the Company regularly cooperates with many of these companies, it also occasionally competes with companies that have far greater resources.

Sunora had 29.5% higher sales for the three-month period ended March 31, 2017 than the comparative three-month period. The increase in sales resulted from greater sales of bulk oil to the United States and an 85% increase in sales overseas.

The $66,560 of net income and comprehensive income in the three-months ended March 31, 2017 was 167% higher than the same period of 2016. This was primarily a result of foreign exchange income of $10,833 as opposed to a foreign exchange loss of $82,655 in the comparative period. Gross margin declined from 9.4% to 6.7% as a result of an increase in bulk sales, which yield lower margins relative to packaged products.

Sunora's current assets consist of cash, accounts receivable, inventory, prepaid expenses and income tax recoverable. Cash is held for working capital requirements and to fund expansion costs for new markets and customers. A policy of conserving cash is rigorously followed by management in order to sustain operations and foster its marketing strategies. Accounts receivable increased 32.1% from December 31, 2016 due to higher sales. The 21.8% increase in inventory is due to increased purchases in anticipation of future sales.

Sunora's current liabilities consist of accounts payable and accrued liabilities, income tax payable and customer deposits. Accounts payables and accrued liabilities increased 13.8% from December 31, 2016, due to increased purchases at the end of this quarter. Nevertheless, Sunora is committed to its policy to manage its trade payables on a current basis and maintain its excellent credit standing.

A direct correlation to Sunora's increased sales has been its marketing efforts. Over the years, Sunora has established good relationships with its sale staff, giving them more flexibility and autonomy as mutual trust has developed in these relationships. In North America, Sunora has worked with brokers who have introduced new customers to the Company. Sales to independent distributors have also grown, mostly in overseas countries, who have given Sunora entry into many foreign markets. Product sales to foreign distributors and for other customers are final and not returnable.

Net income for the first quarter of 2017 decreased 16% from the fourth quarter of 2016. The decrease was due to the lower gross margins. Compared to the quarter ended March 31, 2016, net income increased by 167%. Earnings per share – basic and diluted, for the first quarter of 2017 and for the fourth quarter of 2016 were $0.002 per share for each quarter. It increased from $0.001 per share for the quarter ended March 31, 2016.

Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations. Management is also actively considering possible new products that may benefit from new domestic and international markets where it is currently active. With the continuing positive momentum in the United States economy and new customers being added in Asia, Sunora is well placed for the future.

New company presentation: http://www.sunora.com/assets/docs/ppt/sunora-foods-corporate-presentation-summer-2017.pdf

Sunora Foods earns $66,560 in Q1 2017

2017-05-30 07:59 MT - News Release

Mr. Dean Stuart reports

SUNORA FOODS ANNOUNCES FIRST QUARTER FINANCIAL RESULTS

Sunora Foods Inc. has filed its financial statements and management discussion and analysis for the period ended 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 the first quarter of 2017 versus revenue of $2,687,379 for the comparable first quarter of 2016, an increase of 29.5 per cent;
International sales of $526,157 for in the first quarter of 2017 versus international sales of $284,251 for the comparable first quarter of 2016, due to increased distribution and increased demand for healthy foods in Asia;
Net income for the period ended March 31, 2017, of $66,560 versus net income of $24,971 for the comparable period ended March 31, 2016, an increase of 167 per cent;
Cash and cash equivalents of $3,133,920 and working capital of $3,942,885 at the end of the first quarter of 2017.
FINANCIAL HIGHLIGHTS

Period ended
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 Inc.

Sunora Foods is a food oil entity based in Calgary, Alta., 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.

© 2017 Canjex Publishing Ltd. All rights reserved.

News article: Canola exports to China hit record

http://thechronicleherald.ca/business/1448190-canola-exports-hit-record-on-chinese-demand-only-months-after-trade-dispute

CALGARY — Strong demand from China helped lift canola exports to a record $845 million in January and boost the national trade surplus, Statistics Canada said on Tuesday, a sharp rebound for a sector threatened by a trade dispute last year.

China had said last year that because of disease concerns, it would toughen restrictions on the amount of foreign materials - such as weeds, other crops and detritus - permitted in Canadian canola exports. Canadian producers and handlers were worried this could hurt demand for the oilseed, which is used to make cooking oil, animal feed and biofuel.

The dispute was partially resolved as part of wider talks between Prime Minister Justin Trudeau and Chinese Premier Li Keqiang, with an agreement signed in September to maintain the current levels until early 2020.

The uncertainty helped push down canola exports to China to 80,000 tonnes in September, the lowest since 2013, before rebounding to a record high of 741,000 tonnes in January.

The value of all Canadian canola exports was up 38.4 per cent in January compared from December, and more than double from October, Statistics Canada said Tuesday, helping push a third straight trade surplus for Canada.

Export volumes of canola reached a record level of about 1.4 million tonnes in January according to Statistics Canada, driven in part by lower prices that appealed to international buyers, said Ken Ball, a senior adviser at PI Financial.

"The main reason was canola was just extremely cheap," he said.

Prices have since climbed, said Ball, but the market still looks strong for the year with potential for close to 20 million tonnes of demand, and supply expected to be only a few hundred thousand tonnes higher.

"We could be left with a fairly tight situation," said Ball.

The Canola Council of Canada said that exports could be further boosted if Canada and China were to reach a free trade deal.

The council released a report on Monday that showed if China eliminated the nine per cent tariff on canola seed, exports to the country could increase by up to $1.2 billion, the equivalent of about 10 per cent of Canada's 18.5 million tonnes of production.

China was the second largest export market for canola after the United States last year, taking in 4.8 million tonnes of seed, oil and meal worth $2.7-billion, according to the Canola Council.

Ian Bickis, The Canadian Press

Organic Canola Oil approval from QAI based in San Diego

http://www.qai-inc.com/listings/listings_results_detail.asp?cust_id=108223&requestFrom=%2Flistings%2Flistings_results_company%2Easp%3Flist_by%3Ds

The new addition should add some more credibility to the Canola oil they sell in the United States and hopefully more sales with it. Just showed up on Google search

Facility Information:

Facility #1: Sunora Foods Ltd.
4616 Valiant Dr., NW Ste. 205
Calgary, Alberta T3A 0X9
Canada
Certification Type:

Hide products COR - Handling (Trader)
Certification Number: C0030537-CORHTR-13

Product Details:
Product Name Claim Description Listed Date
Canola Oil Organic 3/31/2015
Canola Oil Organic 3/16/2010
Canola Oil Organic 4/20/2016

Canola Oil Demand To Rise In China(Article) - http://www.producer.com/2017/05/chinas-canola-demand-may-rise/

Spring presentation has some more possible leads to where Sunora Foods is headed. It mentions vertical integration, also bio diesel with canola oil. This is all mentioned in the second last page.

http://www.sunora.com/assets/docs/ppt/sunora-foods-corporate-presentation-spring-2017-20170502084840.pdf

Continue expansion into Asia where demand for premium quality Canadian brand Canola is highest
Focus on developing Asian and Chinese markets Partner locally to expand volume sales
Expand the global distribution network Build on existing North American customer base and brand
Vertical integration opportunities
Investigating complementary food and shelf stable goods for export to current countries and region with high demand for Canadian made products
Exploring potential sales channels for Biodiesel
Increase private labeling activity

Interesting article on bio-diesel made from Canola that came out a couple weeks ago: http://www.producer.com/2017/04/canola-oil-may-head-south-for-biodiesel/

Sunora Foods Inc. (SNF.V) Audited Year End Results

Price: $0.255
Common Shares: 42,254,332
Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52%

Financials

ASSETS
Cash: $3,353,921
Accounts Receivable: $949,816
Accrued Interest: $2,908
Inventory: $438,064
Prepaid Expenses: $21,874
Income Tax Recoverable: $110,457
Goods Tax Recoverable: $11,023
Total Assets: $5,047,608

LIABILITIES
Accounts Payable: $954,092
Customer Deposits: $71,510
Total Liabilities: $1,025,602

Note: Sales in Q4 2015, Q1/Q2 2016 were affected by a co-packer issue. This meant that Sunora Foods Inc was required to find other means of distribution, hence hurting sales and margins during those 9 months. This is now resolved, see MD&A below. As well, sales are up year over year even after co-packer setback. Sales were stable year over year despite all this and the larger profit from 2015 was caused by currency exchange, not sales income.

2014 - $13,235,038 - $189,073 - Added listing expenses incurred
2015 - $10,815,959 - $502,182 -  Net income of $200,000 affected by currency exchange
2016 - $12,254,101 - $282,794 - Currency loss of $34,000 or else net income was stable y/o/y

Q1 2017 results will be released end of May, 2017.

MD&A Highlights

Sunora sales for the year ended December 31, 2016 were positively impacted by an increase of 13.3% over the previous year due to sales growth in the United States and internationally. 

The net income and comprehensive income in the year ended December 31, 2016 of $282,794 compared to $502,182 for the previous year, a decline of 43.68%. Instead of foreign exchange gain of $204,165, there was a foreign exchange loss of $33,456. In addition, the gross margin for the year ended December 31, 2016 declined by 0.2% from previous year despite the 13.3% increase in sales. The lower total gross margin can be attributed to a lower percentage of sales in packaged products that have a higher value added.

The Company also had an economic dependence on one customer in 2016 and 2015. Sales to this customer were 21% in the three months ended December 31, 2016 (2015 28%) and 19% (2015 17%) of total sales in the year ended December 31, 2016.

Sunora's sales to the United States have recently trended higher in comparison to sales in Canada. Overseas markets are continuing to grow and provide greater long term stability to sales.  The growth of sales in emerging markets, with growing awareness of healthy food choices by the expanding middle classes, is a positive trend for Sunora.  Overseas sales in the fourth quarter increased significantly because of the timing of the New Year celebrations in Asia and the general positive trend.

Sunora has increased sales over the year due to marketing efforts. Sunora has established strong relationships with sales staff and given them more flexibility and support as mutual trust has developed in these relationships. In North America, Sunora has outstanding commissioned brokers who have introduced new customers to the Company. Sales to independent distributors have also grown for Sunora, mostly in countries overseas, which has given Sunora entry into many foreign markets.
The foreign exchange gain or loss is primarily a result of the inventory purchases and sales that are denominated in US currency.
 
Outlook

Sunora maintains strong relationships with strategically located customers in North America and overseas. These relationships continue to drive demand for food oil products from Canada, with Sunora well positioned to meet existing and additional demand. Management has focused on increasing visibility in emerging markets, with a specific focus on the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunoras operations are impacted by geopolitical situations that may hold up deliveries as was experienced in the fourth quarter of 2015. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.
 
Management is actively identifying and analyzing operations that might increase sales and profitability for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management.
 
Management is also actively considering possible new products that may benefit from new domestic and international markets.
 
With the continuing improvement in the United States economy and new customers being added in Asia Sunora is well placed to improve its profitability and financial position.

Sunora has only one long term contractual obligation of a lease on its office facilities in the Provident Professional Building in Calgary, Alberta. This lease for 1,038 square feet of office space terminates on August 31, 2017, and has an early termination clause with nine months' notice during the last two years.  

Sunora Foods earns $282,794 in 2016

2017-04-28 13:34 MT - News Release

Mr. Steve Bank reports
SUNORA FOODS ANNOUNCES 2016 YEAR END FINANCIAL RESULTS
Sunora Foods Inc. has filed its financial statements, and management's discussion and analysis for the fiscal year ending Dec. 31, 2016. These filings are available for review on SEDAR and the corporation's website.
During the fiscal year ended Dec. 31, 2016, Sunora's highlights included the following:

Revenue of $12,254,101 for the 2016 fiscal year versus revenue of $10,815,959 for the comparable 2015 fiscal year;
International sales of $2,691,977 for the 2016 fiscal year versus international sales of $1,848,317 for the 2015 fiscal year;
Gross margin for the period ending Dec. 31, 2016, of 8.9 per cent versus gross margin for the comparable period ending Dec. 31, 2015, of 10.7 per cent;
Foreign exchange expense of $33,456 for the 2016 fiscal year versus a foreign exchange gain of $204,165 for the 2015 fiscal year;
Net income for the period ending Dec. 31, 2016, of $282,794 versus net income of $502,182 for the comparable period ending Dec. 31, 2015, a decrease of 44 per cent;
Cash and cash equivalents of $3,353,921 for the period ending Dec. 31, 2016, versus $2,620,566 for the comparable period ending Dec. 31, 2015;
Acquisition of 8,028,400 shares by Shanghai Hao Zhuo International Trading Ltd. from president and chief executive officer Steve Bank.


FINANCIAL HIGHLIGHTS

Period ending Dec. 31, 2016

Sales $12,254,101
Gross margin $1,087,617
Income before taxes $370,744
Net income $282,794
Earnings per share $0.007

About Sunora Foods Inc.
Sunora Foods is a food oil entity based in Calgary, Ata., trading and supplying canola oil, corn oil, soybean oil, olive oil and specialty oils in Canada and internationally.
© 2017 Canjex Publishing Ltd. All rights reserved.

Saw this article today and did a little more research and confirmed that it is true via the company's LinkedIn page:

Article: http://nation.com.pk/business/15-Apr-2017/corporate-corner - This article only showed up on Google Search less than 24 hours ago and I do weekly Sunora Foods Google word searches

Key Line: LAHORE (PR): Agro Processor & Atmospheric Gases Pvt Ltd (APAG) is a leading company in the edible oil industry of the country. With renowned brands like Soya Supreme, Smart, Malta & Champion APAG continues to satisfy the needs of its consumers through its high-quality brands. APAG has been offering Smart Canola Cooking Oil under the license of Sunora Foods Canada.

AGAP Linkedin Page: https://www.linkedin.com/company/agro-processors-&-atmospheric-gases-pvt-ltd-

Sunora Foods & AGAP Commercial -

Edible oils in India article, easy market that SNF could penetrate along with Europe.

http://www.business-standard.com/article/markets/profit-margins-lure-edible-oil-makers-to-enter-the-premium-segment-117041100452_1.html

Sunora Foods estimates Q4 2016 sales of $3.44-million

2017-02-08 07:33 MT - News Release

Mr. Steve Bank reports

SUNORA FOODS ANNOUNCES QUARTER 4 SALES AND CHANGE OF AUDITOR

Sunora Foods Inc. has released unaudited, preliminary fourth quarter sales for the period ending Dec. 31, 2016.

For the three-month period ending Dec. 31, 2016, the corporation had unaudited sales of $3,444,559 versus sales for the fourth quarter 2015 of $2,394,656. Sales were broken down as shown in the attached table.

FOURTH QUARTER 2016 SALES

United States $2,034,864
Canada $427,002
Overseas $982,692

The corporation also announces it has changed its auditor from Collins Barrow Calgary LLP to Calvista LLP Chartered Professional Accountants of Calgary, Alta.

At the request of the corporation, the former auditor tendered its resignation as auditor of the corporation, effective on Jan. 24, 2017, and the board of directors of the corporation appointed the successor auditor as the corporation's auditor, effective Jan. 24, 2017, until the next annual general meeting of the corporation.

There were no reservations in the former auditor's reports in connection with the most recently completed fiscal year (2015) or for any period subsequent to the most recently completed period for which an audit report was issued preceding the date of the former auditor's resignation. There are no reportable events (as that term is defined in National Instrument 51-102, continuous disclosure obligations) between the corporation and the former auditor.

In accordance with National Instrument 51-102, the notice of change of auditor, together with the required letters from the former auditor and the successor auditor, has been reviewed by the audit committee and the board of directors, and has been filed on SEDAR.

About Sunora Foods Inc.

Sunora Foods is a food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil and specialty oils in Canada and internationally.

© 2017 Canjex Publishing Ltd. All rights reserved.

SNF Q3 Results Summary:

Sunora Foods Q3 Financial Statement with MD&A (Ending September 30th 2016)

Price: $0.23
Common Shares: 42,254,332
Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52%

Financials:

Assets
Cash: $3,091,780
Accounts Receivable: $1,233,869
Inventory: $687,014
Prepaid Expenses: $3,911
Income Tax Installments: $74,503
Deferred Tax: $147,974
Total Assets: $5,239,051

Liabilities
Accounts Payable: $1,232,809
Customer Deposits: $99,613
Total Liabilities: $1,332,422

Note: Sales in Q4 2015, Q1/Q2 2016 were affected by a co-packer issue. This meant that Sunora Foods were required to find other means of distribution, hence hurting sales and margins during those 9 months. This is now resolved, see MD&A below. As well, sales are up year over year even after co-packer setback.

Q3 Sales - $3,281,156 ($2,451,477 in 2015)
9 Month Sales - $8,804,308 ($8,452,570 in 2015)

Q3 2016 Net Income - $122,872
Q2 2016 Net Income - $55,615
Q1 2016 Net Income - $24,971
Net Income for 2015 - $502,182 (Q4 was a loss of $54,000 due to start of co-packer issue)
Net Income for 2014 - $189,073
(Company was private until 2014)

MD&A Highlights

In the third quarter of 2016, sales increased 15.7% due to an increase in bulk oil sales in comparison to the second quarter. In the second quarter of 2016, sales had increased 5.5% due to some increase in bulk oil sales in comparison to the first quarter. Sales for the first quarter of 2016 were 12.6% higher than the fourth quarter of 2015. Sales for the fourth quarter of 2015 were 2.6% lower than the third quarter of 2015 due to a decrease in overseas sales. 2015 third quarter sales were 24% lower than the second quarter of 2015; second quarter 5 sales were 18% higher than first quarter of 2015.

Sunora's sales to the United States have recently trended higher in proportion to sales in Canada. Overseas markets are generally continuing to grow, although international sales were adversely impacted in the first six months by short term conditions. Sales in Canada declined in this nine month period compared to the same period last year due to reduced bulk oil shipments in Canada. The growth of sales in emerging markets is due to a trend in greater awareness of healthy food choices in an expanding middle class. Overseas sales are continuing to grow.

Sunora had 4.2% higher sales for the nine-month period ended September 30, 2016 than the comparative nine month period. Sales were somewhat adversely impacted by delivery issues with a key co-packer. The $203,458 of net income and comprehensive income in the nine months ended September 30, 2016 was 63% lower than the same period of 2015. This was primarily a result of a foreign exchange loss of $45,823, as opposed to a foreign exchange gain of $165,229 in the comparative period. Gross margin declined from 11.2% to 8.9% at least partly because of delivery issues with a co-packer.

Cost of sales consists of purchases of crude and refined oil, packaging, freight and custom duties. Sunora achieved a gross margin of 10% in the three months ended September 30, 2016, compared to 12.9% in the three months ended September 30, 2015. Gross margin for the nine months ended September 30, 2016 were 8.9% compared to 11.2% for the nine months ended September 30, 2015. These margins were impacted by delivery issues with a co-packer.

The Company's target Working Capital Ratio (Current Assets divided by Current Liabilities, which is an indicator of its ability to finance its on-going operations) is 2:1. Current Assets comprise cash, accounts receivable, inventory, prepaid expenses and income tax recoverable; Current Liabilities include accounts payable, accrued liabilities and income taxes payable. The amounts of accounts receivable, inventory and accounts payable and accrued liabilities at a point in time are the direct result of sales and purchases and how the Company manages collections, supplier credit and inventory levels, which in turn is manifested in the available cash. At September 30, 2016, the Working Capital Ratio was 3.8:1 compared to 7.4:1 at December 31, 2015. The Company's business has been consistently managed with a strong working capital position which has enabled the Company to operate without debt. Additionally, the current nature of Sunora's operations has enabled it to expand without making capital investments. Therefore, the Company believes it is in a very favourable position to expand in the future.

Outlook

Sunora maintains good relationships with customers in North America and overseas. These relationships continue to drive demand for food oil products from Canada, with Sunora well positioned to meet existing and additional demand. Management has focused on increasing visibility in emerging markets, with a specific focus on the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunora’s operations are impacted by geopolitical situations that may hold up deliveries as was experienced in some recent quarters. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.

Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations. Management is also actively considering possible new products that may benefit from new domestic and international markets. With the continuing positive momentum in the United States economy and new customers being added in Asia, Sunora is well placed for the future.