TSXV trading symbol: VPI
VANCOUVER, BC, December 30, 2021 / CNW / – Vitality Products Inc. (TSXV: VPI) (the “Company” or “Vitality”) is pleased to report its financial results for the third quarter ended October 31, 2021.
The Company’s Financial Results for the Three Months Ended October 31, 2021 show a net loss of $ 131,035 Where $ 0.00 per share compared to a net loss of $ 42,189 Where $ 0.00 per share for the same period last year. Turnover for the three months ended October 31, 2021 of the Company’s premium natural health products increased 4% to $ 213,030 (2020 – $ 205,437).
General and administrative expenses of the Company for the closed quarter October 31, 2021 increased to $ 263,120 (2020 – $ 185,601) as wages and salaries have increased to $ 164,455 (2020 – $ 97,461). Promotion increased to $ 41,252 (2020 – $ 30,120). The company focused on launching its full line of Vitality Glow ™ marine collagen products to consumers of Canada and prepared for the launch of its subscription e-commerce platform to enable customers to make purchases on a convenient and recurring basis.
In October 2021, the company has won 2 living awards, recognizing the best products in the Canadian natural health industry by consumers and retailers. Vitality was honored with the honor of Women’s Favorite Product – Retailer’s Choice (Bronze) for Powerful Iron + Organic Spirulina and New Favorite Supplement – Consumer Choice (Bronze) for Marine Collagen + Vitality Rose Glow.
The condensed interim financial statements and the management report of the Company for the nine-month period ended October 31, 2021 and 2020 are available on the SEDAR website at www.sedar.com.
Visit our new Investors website: investinvitality.com
VITALITY® is an award-winning line of clean vitamins and supplements marketed to natural health retailers and consumers concerned about their health and wellness. Locally made in British Columbia and currently sold in 600 natural health stores and online, the products are tested non-GMO and by third parties. Following the line’s proven success through repeat orders and growth in same-store sales, the company is focused on expansion of distribution and growth in in-store and online sales; evaluate, research and develop new products for future distribution; and explore new markets for its products.
On behalf of the Board of
VITALITY PRODUCTS INC.
“Cheryl A. Grant” (signed)
Cheryl A. Grant, President and CEO
The information contained in this press release involves forward-looking statements. Forward-looking statements are statements that relate to future events and not past. In this context, forward-looking statements often deal with the expected future business and financial performance of a company and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect” and ” intend ”, statements that an action or event“ could ”,“ could ”,“ could ”,“ should ”or“ will ”be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance or achievements, or other future events, to be materially different from results, performance. or future achievements expressed or implied by these forward-looking statements. These factors include, among others, the following risks: risks associated with the marketing and sale of securities; the need for additional financing; the use of key personnel; the potential for conflicts of interest between certain officers or directors with certain other projects; and the volatility of the price and volume of common stocks. Forward-looking statements are based on the beliefs, estimates and opinions of management at the date the statements are made and, except as required by law, the Company assumes no obligation to update any forward-looking statements. if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against assigning undue certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTACH ANY IMPORTANCE TO FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION AT ANY OTHER DATE. ALTHOUGH THE COMPANY MAY CHOOSE, IT DOES NOT COMMIT TO UPDATING THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED UNDER APPLICABLE SECURITIES LAW.
Neither the 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 press release.
SOURCE Vitality Products Inc.
For further information: Vitality Products Inc., Cheryl A. Grant, President and CEO, (604) 591-1322, [email protected]