TORONTO, ONTARIO--(Marketwire - Nov. 27, 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 nine months ended September 30, 2012. Highlights of the results include:
-- For the nine months ended September 30, 2012, sales increased by 73% to
$2,604,919, compared to the nine months ended September 30, 2011;
-- For the three months ended September 30, 2012, sales increased by 56% to
$799,935, compared to the three months ended September 30, 2011;
-- For the nine months ended September 30, 2012, gross profit increased by
63% to $893,703, compared to the nine months ended September 30, 2011;
-- For the three months ended September 30, 2012, gross profit increased by
47% to $237,981, compared to the three months ended September 30, 2011.
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.
The Company would also like to announce that it has completed an amalgamation (the "Amalgamation") with its wholly-owned subsidiary, Sweet Diabetic Delight Foods Inc. (the "Subsidiary"). Pursuant to the Amalgamation, all of the issued and outstanding securities of the Subsidiary were cancelled and all of the assets and liabilities of the Subsidiary have been assumed by Xylitol Canada. No securities of Xylitol Canada were issued in connection with the Amalgamation and the share capital of Xylitol Canada remains unchanged. The Amalgamation was undertaken in order to simplify corporate structure, but will not have any significant effect on the business or operations of the Company.
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.
Xylitol Canada Inc.
President and CEO