WestBond Posts Slight Loss for Quarter Ended June 30, 2020

DELTA, British Columbia, Aug. 27, 2020 (GLOBE NEWSWIRE) — WestBond Enterprises Corporation (TSX-V: WBE) is pleased to announce its second quarter financial results and the official launch of ViroBan Plus – the company’s new disinfectant wipes.
WestBond has posted a loss of $2,814 for the three months ended June 30, 2020. This represents a decrease from the profit of $124,303 for the three months ended June 30, 2019 of 102.3%. Sales decreased 28.8% to $1,955,341 this year compared to $2,746,044 for the three months ended June 30, 2019. The decrease is due to COVID-19 shut-downs in the hospitality industry, offset by increases in long-term care products and government wage subsidies.On a very positive note, WestBond has this week started to ship orders for its new disinfectant wipe, ViroBan Plus, to major health care distributers and government ministries. Revenues and profits are expected to increase significantly from this product.The quarterly report and other information is available on the company’s website at www.westbond.ca and on SEDAR at www.sedar.com.Cautionary Note Regarding Forward Looking Statements: This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the Company’s intentions. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” occur. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the ability to develop markets and increase profitability. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, changes in operating performance, availability of and prices for raw materials, availability of trained labour, foreign currency exchange rate fluctuations, unexpected competition and other technical, market and economic factors
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