Montreal, Quebec--(Newsfile Corp. - April 29, 2016) - Earth Alive Clean Technologies Inc. (CSE: EAC) ("Earth Alive" or the "Corporation"), a leading developer and manufacturer of state-of-the-art microbial technology-based products for agriculture and dust control, today reported its financial results and operational highlights for its fourth quarter and year ended December 31, 2015.
Highlights from FY 2015:
- Revenues of $1,356,540 for the year, a 382% year over year increase
- Agriculture revenues of $469,282, a 630% year over year increase
- Dust revenues of $887,258 for the year, a 316% year over year increase
- Signed an exclusive three-year agreement with Brenntag Latin America for the production and sales of its patent-pending EA1 dust suppressant product
"This past year, Earth Alive's microbial technologies began disrupting the agriculture and dust suppression industries" stated David Gilmour, CEO of Earth Alive. "2015 was filled with watershed moments and I am extremely pleased that we delivered considerable traction for our Corporation on multiple fronts; we moved beyond the R&D stage and focused on setting the stage for the planned international commercialization of Earth Alive's proprietary product portfolio. The Corporation was successful at following its business development plan and at realizing many milestones, namely the exclusive distribution agreement reached with Brenntag Latin America for our EA1 dust suppression product, quickly followed by a similar agreement with Brenntag for our Soil Activator™ biofertilizer. We continue to work hard to strengthen our partnership with Brenntag to leverage their distribution network for both our Agriculture and Dust Suppression Business Units. The Earth Alive team is continuing to prove that business objectives and environmental sustainability can make great partners."
Mr. Gilmour added, "Reaping the rewards of our new international distribution agreements is a process that takes time and patience to leverage, and we remain totally focussed on executing this business plan. We are more than ever confident that we are on the right path to bringing significant value for our shareholders. "
Financial Highlights for the Fourth Quarter and Year Ended December 31:
| Three months ended | Year ended | |||||||||||
| December 31, | December 31, | |||||||||||
| In Canadian Dollars | 2015 | 2014 | 2015 | 2014 | ||||||||
| Revenue | 464,966 | 60,226 | 1,356,540 | 355,583 | ||||||||
| Gross Margin | 252,712 | (12,319 | ) | 596,047 | 136,604 | |||||||
| % | 54.4% | -20.5% | 43.9% | 38.4% | ||||||||
| Operating Expenses | 865,614 | 516,020 | 2,461,641 | 2,027,377 | ||||||||
| Financial (Income) Expenses | 36,596 | (10,818 | ) | 140,944 | 992,378 | |||||||
| Net Loss | (628,271 | ) | (517,521 | ) | (1,882,797 | ) | (2,883,151 | ) | ||||
About Earth Alive Clean Technologies:
Earth Alive aims to be a key player in world markets of environmentally sustainable industrial solutions. The company works with the latest innovations in microbial technology to formulate and patent innovative products that can tackle the most difficult industrial challenges, once only reserved to environmentally harmful chemicals and additives. The company is focused on environmental sustainability in 1) dust control for the mining industry, and 2) the agriculture industry.
For additional company information, please visit SEDAR at www.sedar.com and www.earthalivect.com
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Although Earth Alive believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Earth Alive Clean Technologies Inc.,
1001, Lenoir Street, Suite B-338,
Montreal (Qc) Canada
H4C 2Z6
T.(438) 333-1680
For media information and interview requests, please contact:
Mr. David Gilmour
(e) dgilmour@earthalivect.com
(p) 514-814-2899
For investor relations, please contact:
Mr. Frédérick Chabot
(e) frederick@contactfinancial.com
(p) 438-863-7071
