Sunora Foods : Quarter 3 Financial Results

(via TheNewswire)

CALGARY, ALBERTA -TheNewswire - November 26, 2020 -Sunora Foods Inc.(the "Corporation") (TSXV:SNF) announces the filing of its financial statements and management discussion and analysis for the three-month and nine-month periods ended September 30, 2020. These filings are available for review on SEDAR and the Corporation's website.

For the three-month period ended September 30, 2020, Sunora's highlights include the following:

• - Revenue of $2,617,356 for Q3 2020 versus revenue of $2,875,992 for the comparable Q3 2019;

  - Gross margin of $160,536 for Q3 2020 versus gross margin of $192,597 for the comparable Q3 2019;

  - Net income (loss) of ($46,715) for Q3 2020 versus net income of $73,766 for the comparable Q3 2019;

• - Bad debt expense in Q3 2020 of $79,775;

  - Cash and cash equivalents of $3,384,924 as of September 30, 2020.

Financial Highlights

 
-----------------------------------------------------------------------
 |                 |Three-Month Periods Ended|Nine-Month Periods Ended |
 |---------------------------------------------------------------------|
 |                 |Sept        |Sept        |Sept        |Sept        |
 |                 |30,         |30,         |30,         |30,         |
 |                 |2020        |2019        |2020        |2019        |
 |---------------------------------------------------------------------|
 |Sales            |$2,617,356  |$2,875,992  |$7,869,294  |$8,238,200  |
 |---------------------------------------------------------------------|
 |Gross Margin     |$160,536    |$192,597    |$538,642    |$607,035    |
 |---------------------------------------------------------------------|
 |Net Income (loss)|($46,715)   |$73,766     |$29,903     |$206,935    |
 |---------------------------------------------------------------------|
 |Earnings         |($0.001)    |$0.002      |$0.001      |$0.005      |
 |(loss) per       |            |            |            |            |
 |Share            |            |            |            |            |
 -----------------------------------------------------------------------

About Sunora Foods

Sunora Foods is a Calgary, Alberta based food oil entity,trading and supplying canola 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: [phone]

E: [e-mail]

Steve Bank

Chief Executive Officer and President

T: [phone]

E:[e-mail]

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.

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