ARNPRIOR, ONTARIO -- (Marketwired) -- 05/07/15

Pacific Safety Products Inc. (TSX VENTURE:PSP) ("PSP" or the "Company"), a leading North American manufacturer of advanced armour and personal protection solutions, today reported financial results for the three month period ended March 31, 2015.

Highlights:

--  Revenues for the third quarter were $5.0 million, an increase of 35.1%
    compared to revenues of $3.6 million during the third quarter of fiscal
    2014 
--  Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization
    ("Adjusted EBITDA") was $252,257 compared to the Adjusted EBITDA of
    $206,264 during the third quarter of the prior year 
--  The Company reported net income for the third quarter of $78,995
    compared to a net income of $51,118 during the third quarter of the
    prior year 
--  When we normalize short-term Canadian currency pressures on purchasing
    raw material in Canada, ongoing legal expenses and other non-recurring
    costs, EBITDA grew to over $440,000 in the quarter. 
--  Gross margin as a percentage of revenues for the third quarter was 27.3%
    compared to 28.0% for the third quarter of the prior year.  
--  Working capital grew from $ 1.6 million to $ 2.4 million in the quarter.

"PSP grew its revenues and EBITDA in the quarter and will continue to invest in its ongoing business growth and expansion," said CEO, Terry Vaudry. "We remain committed to revenue growth as well as delivering earnings while preparing the Company for significant opportunities in this calendar year."

To review the Management's Discussion and Analysis and corresponding financial statements please go to PSP's section on www.sedar.com.

About PSP: The mission statement of Pacific Safety Products Inc. is ...we bring everyday heroes home safely®. PSP is an established industry leader in the production, distribution and sale of high-performance and high-quality safety products for the defence and security market. These products include body armour to protect against ballistic, stab and fragmentation threats, ballistic blankets to reduce blast effects, tactical clothing, and protective products against chemical and biological hazards. PSP is the largest body armour manufacturer in Canada, directly supplying the Canadian Department of National Defence, Federal Government Agencies and major Canadian law enforcement organizations. The Company, through its U.S. subsidiary GH Armor Systems Inc., provides body armour to U.S. based law enforcement and private security firms. The Company also produces tactical clothing. Pacific Safety Products is a reporting issuer in British Columbia, Alberta and Ontario and publicly trades under the symbol PSP on the TSX Venture Exchange.

Forward-Looking Information: This news release contains certain statements which may constitute "forward-looking information" within the meaning of applicable securities laws. These statements relate to anticipated or assumed events or results and, in some cases, can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms. The forward-looking events and circumstances discussed in this news release, including when the Company expects to commence delivery under the above noted contracts, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To receive Company news via email, contact robin@chfir.com and mention "Pacific Safety news" in the subject line.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Pacific Safety Products Inc.
Terry Vaudry, CEO
Telephone: +1 (613) 623-6001
Email: ir@pacsafety.com
www.pacsafety.com

CHF Investor Relations
Robin Cook, Senior Account Manager
Tel: +1 (416) 868 1079 ext. 228
Email: robin@chfir.com
www.chfir.com