MONTREAL, Nov. 28 /CNW Telbec/ - Arura Pharma Inc. (TSXV: ARP) ("Arura")
announces today its financial results for the third quarter ended
September 30th 2007. The highlights for the third quarter were, record sales
and record profits (before stock options), the successful completion of its
listing process on the Toronto Stock Exchange in July and the completion of
the acquisition of Neolia(TM) brands in August. Consolidated financial
statements of Arura and Management Discussion and Analysis for the period
ended September 30, 2007 can be consulted at www.Sedar.com.
(*) Arura recorded record sales of $2,875,000 for the quarter. Third
quarter results include revenues from the Neolia(TM) brands for two
months only. This is an increase of 103% over same period last year.
(*) Arura recorded record net operating profits (before interest, stock
options and depreciation) of $200,000 for the quarter versus a loss
of $195,000 for the same period last year. These results include
revenues from the Neolia(TM) brands for two months only.
(*) On July 13, 2007, Arura completed its reverse take over and the
listing of its common shares on the TSX Venture exchange and a
concurrent private placement of $2,000,000.
(*) As of August 1, 2007, Arura completed the acquisition of the
Neolia(TM) brands for an aggregate base purchase price of
USD $6,800,000 of which USD $3,400,000 was paid by the issuance of
Arura shares at a deemed issuance price of $0.15.
(*) On September 18, 2007, Arura, entered into a letter of intent to
acquire Silkit Pharma Corporation for a purchase price of
USD 2,000,000 payable by the issuance of Arura shares at a deemed
issue price of $0.20.
"We have achieved a number of important milestones in the 3rd quarter
including the listing of Arura common shares on TSX Venture, one large
acquisition, another potential acquisition on the pharma side, but most
importantly we have achieved a new scale in revenue and profitability" said
Ali Moghaddam, President and CEO. Pierre Fortin, COO of Arura, added "Not only
have we completed the integration of our latest acquisition in only 2 months,
but we really see the effects of the synergies resulting from our previous
transactions and the opportunities resulting from our fully-integrated hybrid
About Arura Pharma Inc.
Arura is a specialty pharmaceutical company consisting of two business
units, namely an established consumer health business unit manufacturing and
distributing beauty and personal hygiene products in Canada and in the United
States and an emerging specialty pharmaceutical business unit geared at
acquiring and commercializing established prescription drugs and medical
devices in the oncology, wound care and neurology sectors, amongst others.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
Cautionary Statement on Forward-Looking Information:
This release contains certain "forward-looking statements" including,
without limitation, expectations, beliefs, plans and objectives regarding the
potential transactions and ventures discussed in this release. Among the
important factors that could cause actual results to differ materially from
those indicated by such forward-looking statements are the risks inherent in
pharmaceutical manufacturing and distribution, the need to obtain additional
financing, the availability of needed personnel and fluctuations in general
For further information:
For further information: Daniel Pharand, Chairman Arura Pharma Inc.,
(514) 984-4431, email@example.com; Ali Moghaddam, Chief Executive Officer,
Arura Pharma Inc., (450) 442-2545 ext. 233, firstname.lastname@example.org