CORRECTION – WestBond reports Financial Results for the Quarter ended December 31, 2024
February 19 2025 - 3:41PM
In a release issued under the same headline on Wednesday, February
19th by WestBond Enterprises Corporation (TSX-V:WBE), please note
that in the second sentence of the first paragraph, the loss per
share should be (-$0.001 per share) not (-$001 per
share). The corrected release follows:
WestBond Enterprises Corporation (TSX-V:WBE) reports that sales
for the quarter ended December 31, 2024 were $2,305,562 compared to
$2,577,348 for the quarter ended September 30, 2024. This decrease
in sales (10.6%) resulted in a loss of $40,107 (-$0.001 per share)
for the quarter. The previous quarter ended September 30, 2024
yielded a profit of $71,060 ($0.002 per share).
The decrease in sales and profit for the quarter coincided with
the increased volatility of North American markets for our products
and the change in government in the U.S. Although orders for Canada
and the US were dramatically reduced in November and early December
of 2024, orders rebounded in late December and January 2025.
The addition of maintenance, production and warehouse
personnels, has allowed increased stability in production and
distribution of our products. We continue to invest in new products
and machinery as we prepare for potential changes in the Canadian
and US markets.
The company continues to focus on the food service (hospitality)
industry with its expanding product line of high-end, air laid
napkins. Recently installed equipment should allow us to grow
market share in Canada and the US. Other product categories are
also expected to grow with the addition of related equipment for
those sectors.
The quarterly report and other information are available on the
company’s website at www.westbond.ca and on SEDAR+ at
www.sedarplus.com.
For further information please contact:
Gennaro Magistrale
Chief Executive Officer, President and DirectorWestBond
Enterprises Corporation101 – 7403 Progress Way, Delta, B.C. V4G
1E7
Tel: (604) 940-3939
Cautionary Note Regarding Forward
Looking Statements: This release includes certain
statements and information that constitute forward-looking
information within the meaning of applicable Canadian securities
laws, including statements regarding the Company’s intentions.
Generally, forward-looking statements and information can be
identified by the use of forward-looking terminology such as
“intends” or “anticipates”, or variations of such words and phrases
or statements that certain actions, events or results “may”,
“could”, “should” or “would” occur. Forward-looking statements are
based on certain material assumptions and analysis made by the
Company and the opinions and estimates of management as of the date
of this press release, including the ability to sustain or develop
markets and increase profitability. Although the Company considers
these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward-looking statements. Such risk factors may include,
among others, changes in operating performance, availability of and
prices for raw materials, availability of trained labour, foreign
currency exchange rate fluctuations, unexpected competition and
other technical, market and economic factors. Although management
of the Company has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements and forward-looking
information. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The Company
does not undertake to update any forward-looking statement,
forward-looking information or financial out-look that is
incorporated by reference herein, except in accordance with
applicable securities laws. We seek safe harbour.
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 release.
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