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US House of Representatives Votes to Stop Medical Marijuana Raids

Posted by AGORACOM-JC at 11:23 AM on Monday, June 2nd, 2014
Added by Scott Gaudinier on May 31, 2014.
Saved under Congress, Marijuana, Scott Gaudinier, U.S.
Tags: marijuana

marijuana

Medical marijuana, experiencing a huge spark with a recent outcry of public support across the United States, has now spread to members of Congress, as the U.S. House of Representatives votes to stop federal raids on those who use medical marijuana. Last Thursday evening the House passed an amendment that would prevent the Drug Enforcement Administration (DEA) from pursuing individuals and patients in states where medical use of the drug is legal.

Coming as a pleasant surprise to many citizens across the U.S., the House’s decision reached across party lines, with both Democrats and Republicans showing their support of the amendment with their votes. In a 219 to 189 decision the amendment, led by California Democratic Representative Sam Farr and California Republican Dana Rohrabacher, is the first amendment of its kind to succeed in the House of Representatives.

While the amendment was able to pass mainly due to vast support from Democratic members of the House, there was an observable majority of Republican votes cast in support of the said measure. For this to have happened, the amendment had already been previously backed by a group of co-sponsors from the two opposing parties.

The issue faced in the decision to stop medical marijuana raids was the fact that there was a “routine spending bill” which had been already in place. This allowed for federal tax dollars to be awarded to various government agencies, especially the Justice Department. In turn, the Justice Department has continued its raids of medical marijuana facilities in states across the country where medicinal sales are allowed and adhere to legal terms. However, the new amendment recently passed by the House hopes to prevent federal agencies from continuing these raids henceforth.

Director of Federal Policies at the Marijuana Policy Project Dan Riffle stated that Congress and the overall federal government have begun their shift toward “a more sensible policy” regarding pot, facing strong public pressure. He also made the statement that this vote is historically important after years of the government-initiated “war on drugs” during Ronald Reagan’s years in the White House.

While some critics have made their case that the amendment would only increase the misuse of an “addictive drug” and prevent the DEA from spotting illegal street dealers, House Republican Andy Harris stated in response how other drugs that are addictive have not been advertised as having positive medical benefits.

Unlike marijuana, which many health experts agree has improved patients’ general health, legal substances like nicotine and tobacco cause cancer and have not showed any positive medicinal benefits in any instance. As Harris said, “Nobody writes a prescription and says ‘Smoke a couple of cigarettes and cure your epilepsy.’”

As the U.S. House of Representatives votes to stop medical marijuana raids in the future through the passing of this new amendment, it faces other obstacles as it still needs approval from both the Senate and President Barack Obama. Yet many people across the country, including advocates, patients, doctors, average citizens, and an increasing number of politicians, remain steadfast in their hopes of a nearing reality of both the ultimate decriminalization and legalization of marijuana in the U.S.

By Scott Gaudinier

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Virtutone Announces Record Revenues of $14.9 Million for the Month of May

Posted by AGORACOM-JC at 9:19 AM on Monday, June 2nd, 2014

Sherwood Park, Alberta / June 2nd , 2014 / Virtutone Networks Inc. (“Virtutone” or the “Company”) (TSX Venture: VFX.V) is pleased to announce that the Company has generated over $14.9 million in revenue for the month of May.

“May was an incredible month for us with a growth of 30% over the month of April” said Jason Allen, Chief Executive Officer of Virtutone. “Our team has done an exceptional job in managing this growth over the past year”

We are please to announce the appointment of William (Bill) Woods, Virtuone’s new Chief Financial Officer. Bill has over 15 year experience in CFO roles with various TSX and TSXV companies, in both the United States and Canada. “We would like to welcome Bill to the team” said Jason Allen, Chief Executive Officer of Virtutone. “We would also like to thank Sergio Valacco, for stepping in while we searched for our long-term CFO that will help take the company to the next level.”

For further information please contact Jason Allen at 780-702-5777.

About Virtutone Networks Inc.

Virtutone Networks Inc. is a technology company based in Sherwood Park and is listed on the TSX Venture Exchange in Canada. The company is a leading supplier of managed telecommunication services, including: Voice over IP services, Fax over IP services, Hosted PBX services, DSL & T1 data circuits, wireless solutions for mobile work forces and SCADA networks, and network management and IT-related products. Additional information can be found on the company’s website at www.virtutone.com.

This document may contain certain forward-looking information or statements (“Forward-looking statements”) as defined under applicable securities legislation that involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks include, without limitation, risks related to: the termination, non-renewal of or default under of any current or new wholesale contracts; changes in the global economy; a failure to negotiate new customer contracts; changes in legislation or the interpretation thereof, particularly in the telecommunications industry. Forward-looking statements are any statements other than statements of historical fact. The use of any “plan” “expect ” “project” “believe” “should” “anticipate” or other similar words or statements that certain events “may” or “will” occur are intended to identify forward-looking statements. In particular, forward-looking statements included in the press release include, without limitation, statements regarding: the impact of the new voice traffic contracts; timing and completion of the transition of new voice traffic; the sustainability of the new revenue stream; increased leverage with suppliers; additional deals currently being worked on and the impact thereof; and negotiations relating to potential new customers. The forward-looking-statements contained herein are based on certain assumptions including, without limitation, assumptions regarding: global economic conditions; changes in laws and regulations; the impact of Virtutone’s new contracts; the market for wholesale telephony services; the maintenance of new and current wholesale contracts; and the ability to add new wholesale clients. Although management believes the expectations reflected in the forward-looking statements contained herein are reasonable, no assurances can be given that any of the events anticipated in forward-looking statements will occur, or, if they do, what benefits Virtutone will derive therefrom. As such readers are cautioned not to place undue reliance on forward-looking statements, which are effective only as of the date of this document or as of the date otherwise specifically indicated herein. Virtutone assumes no obligation to update forward-looking statements, except as required by applicable law. The historical revenue numbers for the new wholesale contracts do not represent estimates of future revenues to be received by the Company. As these contracts do not contain any minimum traffic requirements, revenue generated on such contracts will vary from month to month, and such variations may be material. The Company cannot provide any assurances as to the revenues to be generated by such contracts once the transition is complete.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Lexaria and Enertopia Update LOI with Signed Definitive Joint Venture Agreement

Posted by AGORACOM-JC at 8:08 AM on Thursday, May 29th, 2014

 

Kelowna, BC / May 29, 2014 / Lexaria Corp. (LXRP-OTCQB) (LXX-CSE) (the “Company” or “Lexaria”) announces it has signed the definitive Joint Venture agreement as required in the Letter of Intent that was first announced with Enertopia Corp on April 10, 2014.

The Definitive Joint Venture agreement was contemplated at the time of signing the initial April 10, 2014 Letter of Intent, and governs the procedures and practices by which the marijuana production facility in the Greater Toronto Area will be operated. As previously reported, Lexaria is paying 55% of costs in order to earn a 49% interest in the facility.

The municipal approval process continues to proceed for this facility, located in the Greater Toronto Area. Neither the LOI nor the Definitive Agreement has any bearing or relationship with the newer Eastern Ontario proposed facility announced on May 27, which itself will be owned and operated 100% by Lexaria.

Separately, the Company announces that 50,000 stock options priced at $0.10 have been exercised and Lexaria has received $5,000 in payment.

About Lexaria

Lexaria’s shares are quoted in the USA with symbol LXRP and in Canada with symbol LXX. The company searches for projects that could provide potential above-market returns.

To learn more about Lexaria Corp. visit http://www.lexariaenergy.com/

FOR FURTHER INFORMATION PLEASE CONTACT:

Lexaria Corp.
Chris Bunka, CEO: (250) 765-6424
Clark Kent, Media Inquiries: (647) 519-2646

FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, weather, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that road or site conditions will be favorable for field work; no assurance that well treatments or workovers will have any effect on oil or gas production; no assurance that oil field interconnections will have any measurable impact on oil or gas production or on field operations, and no assurance that any expected new well(s) will be drilled or have any impact on the Company. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. Adverse weather conditions including but not limited to surface flooding can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk and there is no assurance that the Company will be able to raise required working capital. Current oil and gas production rates may not be sustainable and targeted production rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements and filings. There is no assurance that the medical marijuana business will provide any benefit to Lexaria, and no assurance that any proposed new facility will be built or proceed, nor that municipal or Health Canada regulatory approvals will be obtained. There is no assurance that the municipality where the building is located will grant its approval for a medical marijuana production facility.

The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Start your small cap medical marijuana research in the AGORACOM Small Cap 
Medical Marijuana Stocks Gateway: 
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Neah Power Systems Presents Patent Pending Technology for Automotive and Grid Scale Fuel Cells

Posted by AGORACOM-JC at 6:50 AM on Thursday, May 29th, 2014

BOTHELL, Wash., May 29, 2014 — Neah Power Systems, Inc., (OTCBB:NPWZ), a provider of proprietary power solutions, announced the publication of a white paper on the website (www.neahpower.com) discussing patent pending technology that allows a safe and high energy density, point of use hydrogen generation technology, that is suited for automotive fuel cells and grid scale fuel cells.

Neah Power CEO Chris D’Couto said, “We are in preliminary discussions with a fuel cell company to license the technology for certain grid scale applications, and we are identifying appropriate automotive partners for this technology, opening up new Served Available Markets (SAM) that are very significant.”

Neah Power CEO, Chris D’Couto, continued, “This compelling technology allows the use of a safe and easily handled liquid fuel, formic acid, to generate hydrogen on demand for automotive and grid scale applications. This could potentially eliminate various safety, handling, cost, and distribution issues currently seen with compressed hydrogen for automotive applications. For grid scale applications, this technology could eliminate the need for onsite hydrogen generation plants that are commonly co-installed with grid scale fuel cells.”

Click here to view the Formic Acid Reformer White Paper.

About Neah Power

Neah Power Systems, Inc., (OTCBB:NPWZ) is an innovator of cutting-edge power solutions for the military, transportation and portable electronics industries. Neah Power’s long-lasting, efficient, and safe solutions include patent-pending micro fuel cells that enable higher power densities in compact form-factors at a lower cost, and that run in aerobic and anaerobic modes. Neah Power was a 2012 ZINO Green Finalist, 2010 WTIA Finalist, and 2010 Best of What’s New Popular Science Award. Contact Neah Power at (425) 424.3324 ext-108 or [email protected].

Forward Looking Statements

Certain of the statements contained herein may be, within the meaning of the federal securities laws, “forward-looking statements,” which are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, and the Company does not undertake any responsibility to update any of these statements in the future. Please read Neah Power System’s Form 10-K for the fiscal year ended September 30, 2013 and its Quarterly Reports on Form 10-Q filed with the SEC during fiscal 2014 for a discussion of such risks, uncertainties and other factors.

Media Contact: Marianne Breum
Neah Power Systems, Inc. 425-424-3324 ext 108

Enertopia and Lexaria Update LOI with Signed Definitive Joint Venture Agreement

Posted by AGORACOM-JC at 5:00 AM on Thursday, May 29th, 2014

Vancouver, BC—Enertopia Corporation (ENRT) on the OTCBB and (TOP) on the CSE (the “Company” or “Enertopia”) is pleased to announce it has signed the definitive Joint Venture agreement as required in the Letter of Intent that was announced with Lexaria Corp on April 10, 2014.

The Definitive Joint Venture agreement was contemplated at the time of signing the initial April 10, 2014 agreement, and governs the procedures and practices by which the marijuana production facility in the Greater Toronto Area will be operated. As previously reported, Enertopia is paying 45% of costs in order to earn a 51% interest in the facility. The municipal approval process continues to proceed for this facility, located in the Greater Toronto Area

The Company also announces that 200,000 warrants have been exercised raising $20,000 in net proceeds.

The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Enertopia

Enertopia’s shares are quoted in Canada with symbol TOP and in the United States with symbol ENRT. For additional information, please visit www.enertopia.com or call Clark Kent at 1.647.519.2646

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, potential and financing of its medical marihuana projects, evaluation of clean energy projects, oil & gas projects, , competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions that are forward-looking statements.  Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements., foreign exchange and other financial markets; changes of the interest rates on borrowings; hedging activities; changes in commodity prices; changes in the investments and exploration expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Enertopia Corporation operates.  The User should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Enertopia Corporation from time to time with regulatory authorities.  There is no assurance that Lexaria Corp will conclude any Definitive Agreements. Similarly, there can be no assurance that the Company will be successful in attracting key people.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

Start your small cap medical marijuana research in the AGORACOM Small Cap 
Medical Marijuana Stocks Gateway: 
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INTERVIEW – Lexaria Corp. Goes “Beyond The Press Release” to discuss the company’s second production facility and vendor intention to finance up to $3,000,000

Posted by AGORACOM-JC at 4:40 PM on Wednesday, May 28th, 2014

(OTCQB: LXRP) (CSE: LXX)

Lexaria is one of the most advanced and fastest growing companies within the exploding medical Marijuana Industry, one of the most recession-proof industry sectors without any apparent boom / bust cycle given North American demographics and the rapidly accelerating acceptance of medical marijuana.

Chris Bunka Chairman, CEO & President Lexaria Corp. Goes “Beyond The Press Release” to discuss the company’s second production facility and vendor intention to finance up to $3,000,000

Hub On AGORACOM / Corporate Website / Listen to Interview

Start your small cap medical marijuana research in the AGORACOM Small Cap 
Medical Marijuana Stocks Gateway: 
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InvestmentPitch Media Attending Next Gen’s GreenRush Financial Conference in Toronto, Ontario on June 26, 2014, Covering Medical Marijuana, Industrial Hemp and Alternative Medicines

Posted by AGORACOM-JC at 11:46 AM on Wednesday, May 28th, 2014

Vancouver, British Columbia–(May 28, 2014) – InvestmentPitch Media will be attending the upcoming GreenRush Financial Conference June 26, 2014. The conference will be held at the Metro Toronto Convention Centre North Constitution Hall from 7:30 am to 6:00 pm.

For more details, please watch this video. If this link is not enabled, please visit www.InvestmentPitch.com and enter “GreenRush Conference” in the search box. InvestmentPitch is a media sponsor for this event, and will be available to film presentations and conduct interviews.

If you cannot view the video above, please visit:
http://www.investmentpitch.com/video/0_jednfe2g/InvestmentPitch-Media-would-like-to-invite-you-to-join-us-at-the-upcoming-GreenRush-Financial-Conference

The conference will feature insightful speakers, government officials, health and industry specialists, public and private companies, fund managers, bankers, brokers, analysts, and media who share a common interest in the Medical Marijuana, Industrial Hemp and Alternative Medicine industries.

The conference will provide a platform for venture capital investment, education and business to business opportunities, with exhibitors having a forum to showcase their products, technologies and services.

For more information, to book a booth, or to register for any of the GreenRush Conferences, please visit the conference’s website www.greenrushfinancialconferences.com or email [email protected].

The GreenRush Financial Conferences are 100% owned by Next Gen Metals Inc. (CSE: N), symbol “N” on the Canadian Securities Exchange. For more information about Next Gen, please visit www.NextGenMetalsInc.com, phone 604-685-1870 or email [email protected].

We hope you’ll join us on June 26th at the GreenRush Financial Conference.

InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing short three minute videos based on significant news releases and research reports. Please visit InvestmentPitch.com and browse the extensive library of investment videos.

CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
[email protected]

Start your small cap medical marijuana research in the AGORACOM Small Cap 
Medical Marijuana Stocks Gateway: 
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New York Times Investigates Canadian Marijuana Industry

Posted by AGORACOM-JC at 10:24 AM on Wednesday, May 28th, 2014

Lexaria Announces Second Production Facility in Ontario

VANCOUVER, British Columbia, May 28, 2014 — On May 24, 2014 the New York Times published a 2,900 word expose on the Canadian medical marijuana industry, centering on a chocolate factory in Smith Falls, Ontario converted to a climate-controlled marijuana plant now operated by Tweed Marijuana, a publicly traded company worth $121 million.

“The Canadian government decided to create an extensive, heavily regulated system for growing and selling marijuana,” explained the New York Times article, “The new rules allow users with prescriptions to buy only from one of the approved, large-scale, profit-seeking producers.”

The Canadian government estimates that within the next decade the marijuana business will generate more than $3.1 billion a year in taxable sales.

On May 27, 2014 Lexaria Corporation (CSE:LXX) (OTCQB:LXRP) announced that it had entered a detailed Letter of Intent for its second marijuana production facility in Eastern Ontario, Canada.

The agricultural growing facility has total potential area of over 80,000 square foot to be completed in a multi-phase development program. Lexaria will be the operator of this facility and owns 100% rights, with no overrides or royalties due to any party.

Other recent successes in the Canadian medical marijuana space are Windfire Capital whose stock price has tripled in the last 12 months and Affinor which has experienced 1000% share price increase after diversifying into medical marijuana and industrial hemp.

Like many of the new marijuana captains, Lexaria President and CEO Chris Bunka is slightly bemused to find himself in the industry.

“I’m 52 years old and I never smoked a joint in my life,” stated Bunka in an exclusive interview with Financial Press, “But I know that I can deploy capital in the medical licensed marijuana business and earn a greater return per dollar than I can in the oil and gas business.”

In 2006 Lexaria discovered an oil field in the state of Mississippi. Over the last three fiscal years, that field has produced about $100,000 a month in revenue.

“The oil field is not large enough to capture the love of the investing public,” admitted Bunka, “but it enabled us to function without doing any harm to existing shareholders.”

Bunka’s plan is to divest Lexaria’s oil assets to fund and focus on the medical marijuana industry – using the same philosophy of first protecting and then growing shareholder value.

“Our first marijuana project is a joint venture which we have a 49% stake in, with Enertopia,” stated Bunka, “Our facility is potentially as large as 75,000 feet – and municipal approval is expected soon.”

Intent that Lexaria control its own destiny, the company acquired 100% interest in a facility in Eastern Ontario.

“The building owner is contributing up to $1 million toward the renovations of the building,” stated Bunka, “In addition they are intending to invest up to $2 million in our recently announced financing, so they will become part-owners of Lexaria.

Lexaria has not had to issue any shares in order to acquire this newest marijuana facility.

“If Lexaria has difficulties obtaining municipal approval for this building, the property owner will make another facility available in another municipality,” stated Bunka, “Let’s face it, crops are vulnerable to disease, licences occasionally get revoked. To protect shareholder value, it is important not to put all your eggs in one basket. Our intention is to spread the risk over multiple facilities.”

Over the last six years, Bunka has personally invested over $1.5 million in Lexaria. Documents posted on sedar.com confirm that the majority of the shares have been purchased on the open market. There is no record of any shares being sold by Bunka.

The medical marijuana space is heating up but Lexaria’s track record indicates that management is not looking for a quick exit. The company is adapting its business model to a new opportunity, with an eye to rapid growth and risk mitigation.

We anticipate getting approvals from the municipal government in Eastern Ontario as well as the fire department and police,” stated Bunka, “We will hire a consulting group to ensure that the licensing application meets all criteria. Shortly after this we hope to get a “comfort letter” from Health Canada confirming that there are no serious deficiencies in the application – adding another layer of shareholder security.

Lexaria is now involved in two potential marijuana production facilities, both located in Ontario, and each capable of expansion and large enough to offer significant cost efficiencies compared to smaller facilities.

“It’s just so rare that you have an industry that’s growing but which has a huge established market,” stated Tweed CEO Chuck Rifici in the New York Times article.

Most medical users consume 1-3 grams per day. Consuming 1 gram a day at $7.80 per gram is an annual expenditure of $2,847 per customer.

Lexaria is trading at .25 with a market cap of under $8 million.

Legal Disclaimer/Disclosure: A fee has been paid for the production and distribution of this Report. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this article should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. Financial Press makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of the author’s only and are subject to change without notice. Financial Press assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this article and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this article.

Also, please note that republishing of this article in its entirety is permitted as long as attribution and a back link to FinancialPress.com are provided. Thank you.

CONTACT: 156 Valleyview Road, Kelowna, BC V1X 3M4
         p. 250 765 6424
         f. 250 765 6414
         950, 1130 West Pender Street Vancouver BC V6E 4A4
         p. 604 602 1675
         f. 604 685 1602
         e. [email protected]
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Xylitol Canada Inc. Announces Financial Results for First Quarter of 2014 and Appointment of New CFO

Posted by AGORACOM-JC at 9:35 AM on Wednesday, May 28th, 2014

TORONTO, ONTARIO–(May 28, 2014) – Xylitol Canada Inc. (“Xylitol Canada“, or the “Company“) (TSX VENTURE:XYL) today announces that it has released its financial and operating results for the three months ended March 31, 2014. Highlights of the results include:

  • For the three months ended March 31, 2014, sales increased by 97% to $2,170,624, compared to the three months ended March 31, 2013;
  • For the three months ended March 31, 2014, gross profit increased by 33% to $498,665, compared to the three months ended March 31, 2013.

The Company continues to expand its customer base and to achieve significant quarter over quarter revenue growth. The growth is attributed to increased availability in many major grocery chains and Natural grocers throughout North America of the Xylaâ„¢ brand of North American xylitol and Xylaâ„¢ products. The Company continues to raise awareness of its Xylaâ„¢ North American brand of xylitol and Xylaâ„¢ products, which are all sweetened with the highest quality Xylaâ„¢ xylitol. The Company’s products do not use any artificial sweeteners and are all sugar free or no added sugar without forfeiting flavor or taste. The Company also recently launched its North American made xylitol oral care line. The full text of the Company’s unaudited consolidated financial statements for the three months ended March 31, 2014 and related management’s discussion and analysis can be found under its profile at: www.sedar.com.

APPOINTMENT OF NEW CFO

The Board is pleased to announce that Mr. Frank Iadipaolo has been appointed Chief Financial Officer (“CFO”). Mr. Iadipaolo has extensive financial management and corporate development experience gained with small to medium sized enterprises in diverse business sectors. He previously served as Chief Financial Officer for Biosign Technologies Inc., Senior Vice-President, Corporate Finance with a Toronto based boutique investment banking firm and Chief Financial Officer for Telesis North Communications Inc. and Microforum Inc. (both previously listed on the TSX). Mr. Iadipaolo has also acted in a senior advisory role for other private and publicly traded growth companies. He holds an honours degree in Commerce from the University of Windsor and is a member of the Chartered Professional Accountants of Ontario. The Board of Directors wishes to thank Kyle Appleby, who served as CFO since April, 2010, for his efforts during his tenure which included detailed oversight of the financial aspects of the Company. Mr. Appleby’s duties as CFO were completed with professionalism. He will assist in the transition and we wish him well in his future endeavours.

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 a 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.

Contact Information

Xylitol Canada Inc.
Andrew Reid
President and CEO
(416) 288-1019
[email protected]

AGORACOM Welcomes Newnote Financial, Canada’s Only Publicly Traded Bitcoin Company

Posted by AGORACOM-JC at 9:12 AM on Wednesday, May 28th, 2014

Why Newnote Financial?

  • Pioneering innovative crypto-currency related software products and services geared at this growing global market
  • Positioned as a leader in delivering opportunities for companies and businesses wishing to participate in the Bitcoin economy while continuing to create value for our shareholders and stakeholders
  • Developingits own philanthropic crypto-currency, opened a datacenter for Bitcoin mining, secured over 100 terahashes for its cloud hashing services, secured  a Bitcoin ABM and is launching its own Bitcoin exchange in short order.

Dedicated bitcoin mining Co-location Data Center

  • Secure underground Canadian facility is designed to handle the need for power and cooling for even the most powerful mining equipment.
  • Facility runs on 100% renewable energy, and has world-class security and energy infrastructure.
  • Miners can host their energy intensive mining equipment, which company will install in our facility, and they can remotely manage and mine Bitcoin or various altcoins of their choosing.

Growing network of ABM machines will allow people to conveniently buy bitcoin using their local fiat currency

Comapny ABM is quick and flexible. Some key advantages:

  • Fiat to Bitcoin in fifteen seconds
  • Accepts notes from over 200 countries
  • Supports leading exchanges, wallets and price feeds
  • Coded and audited by network security experts
  • Intuitive and simple user interface

Physical security is a priority, and the ABM has an internal steel vault that can be securely bolted to wall, stand, or countertop.

Charity Coin

  • Bringomg a new source of revenue for global charities.
  • When CryptoAid generates a coin, part of the currency will go to the miner and part goes to a pool of charities chosen by the CryptoAid community.