SNF.V - Sunora Foods Inc. (SNF)

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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: [phone]

E: [e-mail]

Steve Bank

Chief Executive Officer and President

T: [phone]

E: [e-mail]

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.

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