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THE CANADIAN SECURITIES EXCHANGE – The Exchange for Entrepreneurs | Quarterly Issue No. 3

Senior Vice President, Business Development Barry Charnay

Charnay says that revenues were around USD $1 million annually between 2009 and 2011, but that from 2012 onwards things really started to pick up. In 2013 revenue was CDN $3 million and in the year through February 28, 2014, it more than doubled to some CDN $7.5 million. Adjusted for the shift to a new financial year, Charnay says the current 12-month revenue number could reach CDN $12.5 million. And with the higher sales from domestic production could come wider margins, while new organic products help to make operations even more profitable. “We’ll have more control over product process quality, and cost, and we’re not going to be paying manufacturing margins to a contractor,” explains Charnay. “Instead, that stays in-house, to our shareholders’ benefit.” Charnay points out that the new facility will potentially have more significant implications for product marketing into the United States and Mexico. “With our move to our own production here in Edmonton, we will have the only facility in North America to produce IMO. It will open new markets under the North American free trade agreement.” He also expects the move will further demonstrate BioNeutra’s position as a leader in its market in North America and Europe. Charnay believes it will help differentiate BioNeutra from what he calls ‘copycat’ manufacturers which, he says, are dumping product into the market in North America without proper regulatory approval. “IMO is not simply IMO; the reality is that all products are different mixtures and our regulatory approvals are specific to our product and specific to our process,” Charnay says. “The reality of us being a company that is able make a product in Canada for North America markets will enable me, in the US and particularly in Mexico, to increase market sales. We’ll also be benefitting from country of origin labelling as well as customs and duty benefits. It will all help deliver greater earnings thanks to lower customs duties, freight and shorter time to market.” n

Chairman and Senior VP Bill Smith

Originally published on Proactiveinvestors.com September 9, 2015

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