Trading Symbol: VPI
VANCOUVER, June 2, 2014 /CNW/ - The financial results of the Company for its year ended January 31, 2014 show a net loss of $184,774 or $0.01 per share compared to a net loss of $168,084 or $0.01 per share for the same period last year. The Company's general and administrative expenses for the year ended January 31, 2014 increased to $188,395 (2013 - $168,245) primarily due to the launch of Vitality's new line of vitamins and supplements in September 2013.
Sales for the year ended January 31, 2014 were $5,301 (2013 - $171). Revenues from the sales of products were expected as the Company commenced distribution of Vitality's new line of natural health products after years of development. The Company introduced four products in key growth categories to the market in September 2013. The Company continues to investigate business opportunities to market and license its 92 products and its website, www.vitality.ca.
The financial results of the Company for the three months ended January 31, 2014 show a net loss of $46,870 or $0.00 per share compared to a net loss of $40,398 or $0.00 per share for the same period last year. Sales for the three months ended January 31, 2014 were $252 (2013 - $Nil).
The Company's products are now available for sale in over 50 retail stores located in British Columbia and Alberta. A list of the retailers is available at the Company's website, www.vitality.ca.
The Company's audited financial statements and management's discussion and analysis for the years ended January 31, 2014 and 2013 are available on SEDAR at www.sedar.com.
On behalf of the Board of
VITALITY PRODUCTS INC.
"W. Douglas Grant" (signed)
W. Douglas Grant, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Vitality Products Inc.
For further information: W. Douglas Grant, President & CEO at (604) 683-6611 or [email protected]