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: [email protected] Steve Bank Chief Executive Officer and President T: (403) 247-8300 E: [email protected] 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 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 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' 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 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.