Earth Alive Announces BNQ certification and Q1 results

MONTRÉAL, May 30, 2023 (GLOBE NEWSWIRE) -- Earth Alive Clean Technologies Inc. (TSXV: EAC – “Earth Alive” or the “Company”), a company that develops, manufactures, and distributes state-of-the-art, environmentally-sound proprietary microbial solutions and products, announces the obtention of the Bureau de Normalisation du Québec (BNQ) certification for its flagship dust control product ea1^TM together with its financial results for the first quarter of 2023.

“The BNQ certification is an important milestone as we are developing Québec’s market for ea1. We see a lot of demand and opportunities for environmentally friendly dust control products in the mining and infrastructure industry,” said Nikolaos Sofronis, President and Chief Executive Officer of Earth Alive. “There are major players in the Québec mining industry and sales here thanks to the BNQ certification could spill over in mines worldwide,” added Mr. Sofronis. “On the Agriculture front, we are confident of having our Soil Activator^TM registered in Europe where tests have already begun. Obtaining these registrations will open new markets and should be a catalyst for strong sales starting as early as Q3,” confirmed Mr. Sofronis.

Earth Alive also announces today its 2023 first quarter results:

First Quarter 2023 financial highlights 

• Sales for the first quarter stood at $387,247, a reduction of $185,532 compared to the first quarter of 2022. The Company faced logistic issues out of its control that pushed a portion of sales to the second quarter.
• Agriculture sales were up 54% compared to Q1 2022 mainly due to good performances in South and Central America.
• The Company invested $214,756 in R&D during the quarter compared to $53,818 in Q1 2022. The focus of our R&D is to reduce our cost of production.
• As of March 31, 2023, Earth Alive had working capital of $5,116,863 confirming the strength of its balance sheet.
• Total net loss of $1,262,881 compared to $560,866 driven by R&D, salaries and business development efforts.
  

“The Company is now more diversified than ever and is on its way to provide significantly better sales in the second quarter. Moreover, we are building strong relations and we are opening markets that have fast and important short-term growth potential. We expect to see this potential materialize in sales during the current year,” said Mr. Sofronis.