Vancouver, British Columbia, Canadian Zeolite Corp. (the “Company”) (TSX.V: CNZ) (OTCQB: CNZCF) (FSE: ZEON), an international marketer and distributor of zeolite products, is pleased to announce that Stephen Coates, President of the recently acquired subsidiary Earth Innovations Inc. (“EII”), has agreed to continue his leadership of the retail and industrial/commercial business of EII. Further, EII has posted interim sales of over $213,000 (unaudited) for the period between the effective date of acquisition and closing of the transaction (Sept 30, 2017 and Dec 11, 2017).
Canadian Zeolite Corp. and Earth Innovations Inc. have started the process of vertically integrating the two businesses to better serve current customers and grow the retail, commercial, industrial and agricultural markets for zeolite products. The recent acquisition of EII expands the Company’s ability to distribute high quality zeolite and zeolite products from mine site to store shelf. As the company moves into 2018, the focus will be on product development and to grow the Company’s wholesale and retail businesses.
“We are so excited about the synergies and opportunities in front of the Company. Having recently completed three days of meetings following the closing of the acquisition, it is very clear that financial resources and the portfolio of zeolite research of Canadian Zeolite Corp. will be formidable in supporting the product development, marketing and sales of Earth Innovations’ products and to better service and support our growing customers and distribution partners across North America”, said Ray Paquette, CEO, Canadian Zeolite Corp.
“We are very pleased with the initial order book for both ecoTraction and ecoTractionPRO in the current winter season,” stated Stephen Coates, President of Earth Innovations Inc. He continued, “The relationship between our two companies over the past few years is paying off entirely to the benefit of shareholders of Canadian Zeolite, which now includes the former shareholders of Earth Innovations”.
In working to continue to better serve our customer base, the Company is pleased to announce it has recently expanded its North American warehousing and distribution network with the addition of warehousing in the state of Utah.
On Behalf of the Board
President & CEO
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Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Canadian Zeolite does not assume the obligation to update any forward-looking statement.