WINCHESTER, ON, April 30, 2013 /CNW/ - Botaneco Corp. (the "Company")
(TSXV: BOT) reports that revenue of $3,160,569 was recorded for the
year ended December 31, 2012 representing an increase of $1,294,063
(69%) over the prior year. These increased revenues are primarily
attributable to the sales generated by Natunola of $1,854,929. Of the
total revenue, $1,223,796 was provided by discontinued operations. The
discontinued operations refer to the assets and liabilities held for
sale of Botaneco Specialty Ingredients Inc., a wholly owned subsidiary,
based in Calgary, AB as disclosed in an earlier press release dated
March 28, 2013.
A net loss of $3,017,913 was recorded for the year ended December 31,
2012, a decrease of $843,199 over the prior year. This reduced loss was
attributable primarily to: (a) an increase in revenues and gross profit
due to the acquisition of Natunola that occurred in October 2011; and
(b) a reduction in G&A expenses occurring due to reduced employment
costs as the number of higher earning employees has been reduced since
the previous year. Of this loss, $1,550,544 was due to discontinued
operations.
Basic and diluted loss per share was $0.04 for the year ended December
31, 2012 compared to $0.10 in the previous year.
Detailed financial statements and the Management Discussion and Analysis
can be found at the company website site at www.botanecocorp.com or www.sedar.com
About the Company:
For more information regarding Botaneco Corp., please visit www.botanecocorp.com or www.sedar.com
Some of the statements contained in the release are forward-looking
statements, such as estimates and statements that describe the
Company's future plans, objectives or goals, including words to the
effect that the Company or management expects a stated condition or
result to occur. Since forward-looking statements address future events
and conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ materially from
those currently anticipated in such statements.
Neither 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.
SOURCE: Botaneco Corp.
