Trading Symbol: VPI
VANCOUVER, May 30, 2016 /CNW/ - The financial results of the Company for its year ended January 31, 2016 show a net loss of $216,566 or $0.01 per share compared to a net loss of $177,712 or $0.01 per share for the same period last year. Revenues for the year ended January 31, 2016 increased 94% to $123,767 (2015 - $63,916). The Company's general and administrative expenses for the year ended January 31, 2016 increased to $304,560 (2015 - $217,452) primarily due to the Company's efforts in expanding distribution, improving sales and developing a fifth product which launched into the market in May 2016.
The financial results of the Company for the three months ended January 31, 2016 show a net loss of $42,452 or $0.00 per share compared to a net loss of $48,369 or $0.00 per share for the same period last year. Revenues for the three months ended January 31, 2016 were $43,761 (2015 - $27,469).
Vitality products are available for sale in 275 retail stores located in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Yukon. The retail stores include: Whole Foods, Choices, Nature's Fare, Amaranth, Planet Organic, Nutter's, Old Fashion Foods, Vita Health and Nature's Emporium. A full list of the retailers is available at www.vitality.ca.
The Company's audited financial statements and management's discussion and analysis for the years ended January 31, 2016 and 2015 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]