Perlite Canada Inc.

Perlite Canada Inc.

March 31, 2015 12:23 ET

Perlite Canada Inc. Announces its Results for for the First Quarter of 2015

MONTREAL, QUEBEC--(Marketwired - March 31, 2015) - Perlite Canada inc. (the «Company») (TSX VENTURE:PCI) announces hereby the results for its first quarter 2015 ended on January 31, 2015 (the "1st Quarter 2015").

The Company generated revenues of $1,391,583 during the 1st Quarter 2015 compared to $1,346,247 during the first quarter ended January 31, 2014, being an increase of approximately 3.5%.

The Company recorded a loss before taxes and a net loss of $111,549 for the 1st Quarter 2015 compared to a loss before taxes and a net loss of $23,962 for the 1st quarter of 2014.

The increase in loss recorded during the quarter compared to the loss recorded during the same period last year is mainly explained by the increase in manufacturing costs primarily due to the decrease of the Canadian dollar compared to the American dollar during the quarter and to the increase in administration fees. The decrease of the Canadian dollar compared with the American dollar during the quarter caused a foreign exchange loss of $142 810 compared to the exchange loss of 90 878$ recorded during the same period of last year. Furthermore, legal costs caused by the contestation of a lawsuit instituted by a vermiculite supplier against the Corporation have increased the administrative expenses for the Quarter.

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Perlite Canada inc.
    Richard Barabe or Martin Joyal
    (514) 631-4251
    (514) 631-4254 (FAX)