Trading Symbol: VPI
VANCOUVER, June 1 /CNW/ - The financial results of the Company for its
year ended January 31, 2009 show a net loss of $286,839 or $0.01 per share
compared to a net loss of $733,216 or $0.05 per share for the same period last
year. The Company's net loss decreased significantly in 2009 as the Company
recognized a stock based compensation expense of $5,719 (2008 - $380,460). The
2008 stock based compensation expense was high due to the assumptions required
in the Black-Scholes option-pricing model, specifically, the Company's stock
price volatility over the past five years.
The financial results of the Company for the three months ended January
31, 2009 show a net loss of $60,448 or $0.00 per share compared to a net loss
of $532,476 or $0.03 per share for the same period last year. The Company
recognized the stock based compensation expense of $380,460 during the fourth
quarter of fiscal 2008.
The Company's audited financial statements and management's discussion
and analysis for the year ended January 31, 2009 are available on SEDAR at
On behalf of the Board of
VITALITY PRODUCTS INC.
"William N. Grant" (signed)
William N. Grant, President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Douglas Grant, CFO at (604) 683-6611 or