Mr. Gennaro Magistrale reports

WESTBOND REPORTS FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2023

WestBond Enterprises Corp. has posted a loss of $51,828 (negative 0.1 cent per share) for the three months ended Dec. 31, 2023, compared with a profit of $74,763 (0.2 cent per share) for the three months ended Sept. 30, 2023. Sales were $2,238,900 for the three months ended Dec. 31, 2023, which is 17.6 per cent lower than for the three months ended Sept. 30, 2023, and 5.1 per cent lower than for the three months ended Dec. 31, 2022.

The current economic conditions in Canada are very challenging and because of this, WestBond has decided to focus on the more robust and larger U.S. market. It is installing new equipment that will expand its product lines, increase its efficiencies and add capacity to supply this market. The company has recently started shipping airlaid napkins to a number of new food service distributors in the United States and is soon launching a rebranding of its premium airlaid napkin line and personal hygiene line.

WestBond is also pleased to report that with new staffing levels, the backlog of unshipped orders for the quarter ended Dec. 31, 2023, has been completely eliminated.

The quarterly report and other information are available on the company's website and on SEDAR+.