TORONTO, ONTARIO--(Marketwire - Aug. 24, 2012) - Xylitol Canada Inc. ("Xylitol Canada", or the "Company") (TSX VENTURE:XYL) today announces that it has released its financial and operating results for the three and six months ended June 30, 2012. Highlights of the results include:
- For the six months ended June 30, 2012, sales increased by 82% to $1,804,984, compared to the six months ended June 30, 2011;
- For the three months ended June 30, 2012, sales increased by 84% to $897,558, compared to the three months ended June 30, 2011;
- For the six months ended June 30, 2012, gross profit increased by 70% to $655,722, compared to the six months ended June 30, 2011;
- For the three months ended June 30, 2012, gross profit increased by 63% to $329,976, compared to the three months ended June 30, 2011.
Andrew Reid, CEO and Founder of Xylitol Canada commented "We are very pleased with our continued growth and execution. Many of the investments we have made over the past 2 years in product development and retail expansion are starting to pay dividends. We are extremely excited about the current positioning of the Company and its brands."
The full text of the Company's audited 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 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.