Mr. Richard Barabe reports

PERLITE CANADA INC. ANNOUNCES ITS RESULTS FOR FOR THE FIRST QUARTER OF 2015

Perlite Canada Inc. has released the results for its 2015 first quarter ended Jan. 31, 2015.

The company generated revenues of $1,391,583 during the first quarter of 2015, compared with $1,346,247 during the first quarter ended Jan. 31, 2014, being an increase of approximately 3.5 per cent.

The company recorded a loss before taxes and a net loss of $111,549 for the first quarter of 2015, compared with a loss before taxes and a net loss of $23,962 for the first quarter of 2014.

The increase in loss recorded during the quarter compared with the loss recorded during the same period last year is mainly explained by the increase in manufacturing costs, primarily due to the decrease of the Canadian dollar compared with the American dollar during the quarter and to the increase in administration fees. The decrease of the Canadian dollar compared with the American dollar during the quarter caused a foreign exchange loss of $142,810, compared with the exchange loss of $90,878 recorded during the same period of last year. Furthermore, legal costs caused by the contestation of a lawsuit instituted by a vermiculite supplier against the corporation have increased the administrative expenses for the quarter.

We seek Safe Harbor.