TORONTO, ONTARIO--(Marketwired - April 29, 2016) - Xylitol Canada Inc. ("Xylitol Canada", or the "Company") (TSX VENTURE:XYL) today announces that it has released its financial and operating results for the Fiscal year ending December 31, 2015 in addition to the 4th Quarter results for the period of October 1, 2015 to December 31, 2015.
Highlights of the results include:
|Three months ended December 31,||2015||2014|
|Loss per share||$||(0.014||)||$||(0.008||)|
|Year ended December 31,||2015||2014|
|Loss per share||$||(0.040||)||$||(0.032||)|
Mr. Daher, a director of the Company, Stated "Subsequent to the year-end we have raised $2.21m. This funding helps position us to begin restructuring and stabilizing the business in 2016. We look forward to an exciting year at Xylitol Canada."
The Company also discloses that in the previously released statement of April 11, 2016, the secured convertible debenture financing ("Secured Financing") in the principal amount of $1,000,000 CAD was in fact $960,000.00 CAD as a result of a specific investor not closing the final paperwork in the required time periods.
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 operates two business units that address the growing xylose and xylitol markets. Xylitol Canada's consumer packaged goods division is based in Denver Colorado and has grown from under $500,000 in revenue in 2010, to over $8,800,000 in 2015. Xylitol Canada operates a 50,000 square foot xylitol facility where it produces and packages a full catalog of natural sugar free products, most notably its natural sugar alternatives. Through this Denver based facility, the Company services major retail customers such as Loblaws, Whole Foods, Costco, Sprouts, and many others.
Xylitol Canada markets xylitol and xylitol based-products and is focused on becoming a major low-cost manufacturer of xylitol and related products, serving the global market from operations in North America. Xylitol Canada's business strategy is to leverage novel proprietary technology and processes to become North America's premier manufacturer of low cost, high quality xylitol from readily available environmentally-sustainable biomass. Xylitol is a natural sweetener which is marketed globally including Canada and the United States and is accepted by the American Food and Drug Administration, the World Health Organization and the American Dental Association. Xylitol contains 75% less carbohydrates and 40% less calories than sugar, has a myriad of oral health benefits including the prevention of tooth decay and is safe for diabetics. To date, wider spread use of xylitol has been limited by the lack of a reliable, low cost, high quality supplier.
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.