Sunora Foods 2019 Year End Financial Results

Tickers: XTSX:SNF
Tags: #Food&Beverage

CALGARY, ALBERTA - TheNewswire - April 22, 2020 - Sunora Foods Inc. (the "Corporation") (TSXV:SNF) - is pleased to announce the filing of its financial statements and management discussion and analysis for the fiscal year ending December 31, 2019. These filings are available for review on SEDAR and the Corporation's website.

Financial Highlights for the year ended December 31, 2019

Year ended

December 31,

Year ended

December 31,

2019

2018

Sales

$ 11,264,457

14,515,352

International sales (included in Sales above)

$ 3,022,609

3,982,510

Net income and comprehensive income

$ 259,173

258,256

Earnings per share - basic and diluted

$ 0.006

0.006

Dividend paid of $0.0035 per share

$ 141,917

-

December 31,

2019

December 31,

2018

Cash

$ 3,281,809

3,535,161

Other assets

$ 1,794,631

1,706,051

Total liabilities

$ 996,000

1,004,176

Shareholders' equity

$ 4,080,440

3,983,684

Sunora 2019 Highlights

- Entry into the MCT carrier oil business

- Appointment of Gregory Morhun to position of Vice-President Business Development

- Sunora re-purchase of 154,500 common shares under the Company's Normal Course Issuer Bid

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) 2020 TheNewswire - All rights reserved.

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