XYL

Xylitol Canada Inc. ("Xylitol Canada", or the "Company") (TSX VENTURE:XYL) is
pleased to announce today that it has completed a $3 million debt financing (the
"Loan") with Dundee Agricultural Corporation ("Dundee"). The Loan accrues
interest at a rate of 1.0% per month. Subject to the approval of the TSX Venture
Exchange (the "Exchange") and any shareholder approval which may be required by
the Exchange, the principal amount of the Loan outstanding from time to time or
any portion thereof may, at the option of Dundee, be converted into common
shares of the Company at the price of $0.24 per common share. Upon conversion of
the principal amount of the Loan, any accrued and unpaid interest up to but
excluding the date of conversion will be paid in cash, or at the option of
Dundee, and subject to the approval of the Exchange, in common shares at a price
per share equal to the greater of: (a) the last closing price of the common
shares on the Exchange on the date of conversion, and (b) $0.10 per share.


The net proceeds from the Loan will be used for purchasing inventory, product
development, research and development, and for working capital purposes.


"Major food manufacturers are looking at ways to incorporate natural sweeteners
into their products due to the demands of health conscious consumers, and the
natural sweetener market is as a result expanding more rapidly than all other
sweetener markets. Having the support of Dundee as we press forward with our
commercialization efforts is beneficial to the Company and our plans for the
future," stated Andrew Reid, CEO of Xylitol Canada. "We thank Dundee for their
support."


About Xylitol Canada Inc.

Xylitol Canada markets xylitol and xylitol based-products and is focused on
becoming a major low-cost manufacturer of xylitol and related products, serving
the global market from operations in North America. 


Xylitol Canada's business strategy is to leverage novel proprietary technology
and processes to become North America's premier manufacturer of low cost, high
quality xylitol from readily available environmentally-sustainable biomass.
Xylitol is an all-natural sweetener which is marketed globally including Canada
and the United States and is accepted by the American Food and Drug
Administration, the World Health Organization and the American Dental
Association. Xylitol contains 75% less carbohydrates and 40% less calories than
sugar, has a myriad of oral health benefits including the prevention of tooth
decay and is safe for diabetics. To date, wider spread use of xylitol has been
limited by the lack of a reliable, low cost, high quality supplier.


Neither TSX Venture Exchange Inc. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Xylitol Canada Inc.
Andrew Reid
President and CEO
(416) 288-1019
areid@xylitolcanada.com

Xylitol Canada Inc. (TSXV:XYL)
Historical Stock Chart
From May 2024 to Jun 2024

Xylitol Canada Inc. (TSXV:XYL)
Historical Stock Chart
From Jun 2023 to Jun 2024