Vancouver, British Columbia--(Newsfile Corp. - January 29, 2018) - Darelle Online Solutions Inc. (TSXV: DAR) ("darelle" and/or the "Company") today released its interim financial and operational results for the three-month period ended November 30, 2017.
SEDAR") at www.sedar.com and also on darelle's website at www.darelle.com.
The Company launched raffle programs with four new charitable and non-profit organizations including Variety The Children's Charity of B.C. (License# 100978) ("Variety Raffle"). The Variety Raffle will run in conjunction with the Variety Show of Hearts Telethon with the final draw being aired on Global BC at approximately noon on February 12, 2018;
The Company successfully closed multiple raffles with various organization including the Chilliwack Minor Football Association, the Autism Society of B.C. and the BC Hospitality Foundation; and
The Company continues its' pursuit of geographical expansion and is in the process of completing third party certification with Gaming Laboratories International required for licensing in additional jurisdictions.
"We are seeing organizations return for their second and third raffles and even adding new ones," says Kyle Kotapski, President of Darelle Media Inc.
Quarterly Financial Results
The Company generated revenue of $27,740 during the three-month period ended November 30, 2017 compared with $5,889 during the same period in 2017;
The Company reported a comprehensive loss of $70,505 ($0.00 per share) compared to $94,625 ($0.00) for the same three-month period in 2017;
The Company estimates that it will generate revenue in the range of $350,000 or more for the 2018 fiscal year. The Company will continue its platform in the province of B.C. with geographical expansion into Ontario, Manitoba, Saskatchewan and Nova Scotia.
"Third party certification is a key factor in our ability to expand across Canada and into the United States," says Dean Bethune, President of Darelle Online Solutions Inc., "Which we expect to complete by the end of the second quarter."
About Darelle Online Solutions Inc.
Darelle Online Solutions Inc. is a British Columbia corporation with its head office in Vancouver, British Columbia. darelle.com is an online marketplace, which has developed a platform in which charitable and nonprofit organizations can create, sell, deliver and manage their raffle ticket and 50/50 draws completely online. The Company is listed on the Tsx Venture Exchange as a Tier 2 Technology Issuer. The Company has a total of 73,708,147 common shares issued and outstanding.
Additional information on the company can be found at www.darelle.com
Certain statements in this release are forward-looking statements, including with respect to the Company's proposed use of proceeds raised from the above-described Offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, as well as other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.