VITALITY ANNOUNCES FIRST QUARTER RESULTS AND PROVIDES BUSINESS UPDATE
TSXV Trading Symbol: VPI
Quarter 1 Results: Strong Gross Margins and Reduced Net Loss in Q1
Year-Over-Year Financial Highlights:
- Reduced Net Loss by 65%
- Maintained Sales in Q1
- Achieved 72% Gross Margin on Product Sales
- Reduced General Selling Expenses by 48%
- Reduced General and Administrative Expenses by 22%
The financial performance of the Company for the three months ended
Sales of the Company's premium natural health products for the three months ended
The Company's general selling expenses for the three months ended
Business Update
"Following the success of improving operations, Management is focused on growing sales" says
Meetings with
Management has explored multiple business opportunities for international sales, potential acquisition or mergers with similar businesses including AI, digital health applications, and product lines. Management continues to look at opportunities to grow the business.
Increasing Sales Staff for Sales Growth
Management plans to hire two additional sales staff to support sales in fiscal 2025 to increase product turn at retail stores and increase points of distribution. The staff are anticipated to join the Company in
Marketing VITALITY to Retailers and Consumers
During Q1, VITALITY exhibited at three significant industry tradeshows and co-hosted consumer seminars. Consumer seminars have been unavailable at key retailers since the pandemic began in
Winner of a Delicious Living Award – Consumer Choice –
The prestigious Delicious Living award, which is recognized as the leading award in the natural health industry in
The Company's condensed interim financial statements and management's discussion and analysis for the three months ended
About Vitality
VITALITY
® is an award-winning line of clean vitamins and supplements, marketed to natural health retailers and health and wellness conscious consumers. Manufactured in
On behalf of the Board of
"Cheryl A. Grant" (signed)
__________________________________
Forward-Looking Information
Information set forth in this news release involves forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "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 which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
Neither the
SOURCE