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adult contacts ukREVENUES UP 105% OVER SAME PERIOD 04 VANCOUVER, Nov. 15 /PRNewswire-FirstCall/ - Hemptown Clothing Inc. (HPTWF: OTCBB), a leading provider of environmentally responsible apparel announced today its financial results for the third quarter ending September 30, 2005. Highlights of the third quarter include (All figures expressed in US Dollars): - Company posts Income of $501,089 for nine month period ending September 30, 2005 - Revenues for the three month period ending September 30, 2005 up 105% over same period 2004. - YTD sales up 15% over same period 2004. - Gross margin up 28% for 3 month period ending September 30, 2005. - Company and subsidiaries raised $1.8 Million dollars in Q3. - New deal negotiated for debt instrument originally due in October 2005. Hemptown CEO Jerry Kroll stated: "With the raising of new capital and renegotiation of debt, the company is positioned to execute its business plan. The continued development of "CRAILAR(TM)" will begin in the Q4-2005 with testing at the Alberta Research Council pilot plant in November." Hemptown President Jason Finnis stated: "New clothing designs and the accompanying development costs in Q3-2005 look to increase clothing sales in Q1-2006 as the new designs have been met with enthusiasm from customer base." About Hemptown Hemptown Clothing Inc. was founded in 1995 in response to growing demand for environmentally friendly, socially responsible clothing. The company supplies wholesale and private label customers throughout North America through offices in Vancouver B.C., Shanghai, China and Blaine, Washington. For further information contact: Jerry Kroll, Hemptown Clothing Inc., 614-255-5005 http://www.hemptown.com / info@hemptown.com This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, changes in consumer preferences, risks associated with: market acceptance and technological changes; dependence on manufacturing and material supplies providers; international operations; and competition. |
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