(via Thenewswire.ca)
September 1, 2016 / TheNewswire / CALGARY, ALBERTA. Sunora Foods Inc. (the "Corporation") (TSX-V: SNF) announces a clarification on the potential impact on Sunora Foods Inc. ("Sunora") of the restrictions on the export of canola seed to China. The current concern relates strictly to canola seed and is with regard to the amount of "dockage," or foreign material such as weeds, other crops or detritus in the exported material. Sunora is not actively exporting canola seed and would not be impacted in China by any potential restriction on the export of this material.
Sunora exports to China and other Asian jurisdictions are strictly related to canola oil and other food oils. Management continues to develop new sales channels and customers in China and other southeast Asia countries. The Corporation was recently interviewed by CBC News Calgary for input on the potential disruption to canola seed and meal exports, which can viewed at:
http://www.cbc.ca/news/canada/calgary/canola-dispute-china-alberta-1.3740468
"If there's less seed in China for processors, and there may be somewhat less, it opens up an opportunity for those of us who are exporting canola oil itself," said Steve Bank, the CEO of Sunora Foods Inc., whose second largest market after the U.S. is China.
About Sunora Foods
Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the "Sunora", "Sunera" and numerous private label brands.
For further information, please contact:
Dean Stuart
Investor Relations
T: (403) 517-2270
Steve Bank
Chief Executive Officer and President
T: (403) 247-8300
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
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