International Zeolite Reports Third Consecutive Year-Over-Year Sales Increase

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$432/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

  • Significant year-over-year sales growth in consumer and commercial products
  • Improving gross margins on operations
  • Continued lower overhead and administrative savings

  • Vancouver, British Columbia--(Newsfile Corp. - March 13, 2020) - International Zeolite Corp. (TSXV: IZ) (OTCQB: IZCFF) (FSE: ZEON) (the "Company") an international marketer and supplier of natural zeolite and zeolite products, is pleased to highlight the Company's sales for the first half of the current fiscal year following the Company's February 28, 2020 financial results posted on SEDAR.

    The Company, led by flagship products ecoTraction™ and ecoTractionPRO™, achieved a 25% year-over-year increase in sales for the first half of fiscal 2020 to $587,818 (F2019 - $468,804 and F2018 - $280,801). The Company is also pleased to highlight that net losses for the period have further decreased by 37% to $223,045 (F2019 - $358,090 and F2018 - $597,325). Management achieved a 16% improvement in gross sales margins over the previous period (F2020 - $285,336 vs F2019 - $245,030) and administrative costs were reduced by 36% (F2020 - $166,131 vs F2019 - $260,183).

    International Zeolite continues to progress development of value-added products along with research and testing to support the launch of innovative, environmentally beneficial and economically contributive products in the commercial/industrial and agricultural sectors.

    Additionally, the Company is pleased to announce that it has retained Grove Corporate Services Ltd. of Toronto to provide administrative and corporate secretarial support. Grove's Ms. Catherine Beckett has been appointed Corporate Secretary of the Company following the resignation of Dianne Szigety. The Company would like to thank Ms. Szigety for her many years of service and wishes her all the best.

    On Behalf of the Board
    "Ray Paquette"
    President & CEO
    604.684.3301

    For further information, please visit www.internationalzeolite.com

    For Investor Inquiries:
    [email protected]

    For Sales and Commercial Inquiries:
    [email protected]

    Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. International Zeolite does not assume the obligation to update any forward-looking statement.

    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.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53421

    Comment On!

    140
    Upload limit is up to 1mb only
    To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).