International Zeolite Reports Third Consecutive Year-over-Year Sales Increase
• 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, International Zeolite Corp. (the “Company”) (TSX.V: IZ) (OTCQB: IZCFF) (FSE: ZEON) 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
President & CEO