April 5, 2019 – Richmond, British Columbia – Eastwood Bio-Medical Canada Inc. (TSX-V: EBM) (the “Company”) is pleased to announce that the Company has again exceeded growth estimates of quarterly revenues.
In November 2018 and January 2019, the Company announced preliminary growth estimates. The Company estimated that revenues for Q4 2018 would have grown to 350% of the same quarter in the previous year. The annual audited financial statements published on February 28, 2019 showed a growth of over 460% in Q4 2018. The Company had also estimated that revenue in Q1 2019 grew to 460% of the revenues in Q1 2018. The unaudited quarterly statements filed on April 1, 2019 showed a growth of 513%.
The Company is also pleased to announce the launch of is new flagship product, Eleotin Katharos, and the acquisition of the regulatory approvals for its production. Yunji Kim, President and CEO, commented, “While approved to be marketed as an anti-oxidant product in Canada, we have already had a strong reception from Asian markets demanding natural solutions to address heavy metals and smog in their environments. We are pleased to be able to better serve those markets”.
About Eastwood Bio-Medical Canada, Inc.:
The Company is a Vancouver based company whose Eleotin brand of products provide natural sourced solutions for metabolic syndromes, such as blood glucose control, obesity, and hypertension.
Eleotin was initially developed by the scientists at the Julia McFarlane Diabetes Research Center (JMDRC) at the University of Calgary in Alberta, Canada. The JMDRC is a leader in research on Type I and Type II diabetes. After the initial development by the JMDRC, research and development were continued by Eastwood Bio-Medical Research Inc., the Company, and other institutions around the world, including Tsinghua University of the People’s Republic of China. Eleotin products have been endorsed by thousands of doctors and medical associations around the globe, and authorized by Advertising Standards Canada (ASC) to be marketed as the ‘World’s #1 Doctor Recommended Natural Source Healthy Blood Glucose Promoting Product available in Canada’.
More information on Eastwood Bio-Medical Canada Inc., can be found on the website www.eleotin.ca.
For further information, please contact:
Eastwood Bio-Medical Canada Inc.
Yunji Kim, President and Chief Executive Officer
Telephone: (604) 247-2100
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forwar- looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. There is no assurance that the new products will produce the revenue increase the Company expects. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the 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.
