Perlite Canada Inc.

Perlite Canada Inc.

March 01, 2010 10:48 ET

Perlite Canada Inc. Announces its Results for Fiscal Year 2008-2009

MONTREAL, QUEBEC--(Marketwire - March 1, 2010) - Perlite Canada inc. (the «Company»)(TSX VENTURE:PCI) announces hereby the results for the year ended October 31, 2009.

The main event occurred during the fiscal year 2009 is the acquisition of the perlite and vermiculite processing plant located in Lachine, Quebec, (the "Lachine Plant") on November 14, 2008 owned by Normiska Corporation.

This acquisition had a major impact on the Company's results and allowed the Company to increase significantly its revenues during the fiscal year 2009 compared to the fiscal year ended on October 31, 2008. More particularly, the Company's sales totalled $6,810,413 for the fiscal year 2009 compare to $3,509,360 for the fiscal year 2008, representing an increase of approximately 94%.

During fiscal year 2009, management of the Company focused on consolidation of acquired customers and on integration of the Lachine Plant with success. However, the Company posted a net loss of $432,736 during fiscal year 2009 compared to a net loss of $329,345 for fiscal year 2008. During the fiscal year 2010, the management anticipates to concentrate on rationalization of its operations and maximization of the synergies generated by the acquisition of Lachine Plant.

Perlite Canada inc. has become a leading company in Canada in the processing, distribution and sale of perlite and vermiculite, two minerals used in industry and horticulture.

The common shares of Perlite Canada inc. are listed for trading on the TSX Venture Exchange.

This press release contains forward-looking statements to which are associated some risks and uncertainties. Any statement contained in this present press release that does not constitute an historical fact can be considered as a forward-looking statement. In this present press release, verbs such as "believe", "anticipate", "assess" and other similar expressions indicate generally forward-looking statements. Those statements do not warrant as for the future performance of Perlite Canada inc. and they suppose known and unknown risks as well as uncertainties in such a way that true future perspectives, returns or results of the Company may be notably different of future returns or results expressed or implied by these forward-looking statements.

The TSX Venture Exchange is not responsible for the truth or accuracy of this press release.

Contact Information

  • Perlite Canada inc.
    Richard Barabe
    514-336-6651 (FAX)
    Perlite Canada inc.
    Martin Joyal
    514-336-6651 (FAX)