Earth Alive reports strong Q1 sales, net loss, acquisition of Interlube Inc., new patents

From GlobeNewswire: 2024-05-29 16:26:00

Earth Alive Clean Technologies Inc. released its financial results for Q1 2024, reporting sales of $1,301,021 compared to $387,247 in Q1 2023 and a total net loss of $1,333,569. The company acquired Interlube Inc., boosting sales and expanding their market presence particularly in the Québec mining industry. Earth Alive’s working capital on March 31, 2024, was $3,644,679.

Earth Alive proudly filed crucial patent applications for Soil Activator-TG™ on May 13, 2024, introducing an advanced biostimulant that enhances nutrient bioavailability in granular fertilizers. The product meets new European regulations, supporting international market expansion. Additionally, the company’s dust suppressant, ea1, received Boeing compliance certification under the BSS7432 standard, allowing its use on airport runways.

In a significant move, Earth Alive successfully acquired Interlube Inc. on February 1, 2024, bolstering its market presence in the Québec mining industry. The company also formed a strategic distribution agreement with Bourget on March 27, 2024, aiming to enhance its market presence in Québec. A virtual Annual General Meeting is scheduled for June 27, 2022.

Recent changes within Earth Alive include the departure of Jean-Philippe Lejeune, CFO, and CPA, who had been with the company since 2022. The search for a new CFO is underway to ensure continuity. Earth Alive’s Consolidated Financial Statements and Management’s Discussion and Analysis for Q1 2023 are available on SEDAR+. For more information, visit the company’s website.



Read more at GlobeNewswire:: Earth Alive highlights a strong first quarter in 2024