VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 13, 2016) – Grande West Transportation Group Inc. (TSX VENTURE:BUS) (“Grande West” or the “Company”), announced today that it was awarded orders in Ontario to supply up to sixteen (16) 30 foot Vicinity buses, valued at just over CND $ 7,000,000.
Orders include a retendered three year contract from the City of Oakville, for up to twelve (12) 30 foot Vicinity buses, with three firm orders for early 2017 deliveries.
The City of Burlington also ordered four (4) 30 foot Vicinity buses for early 2017 deliveries.
The company is pleased to have a re-order from the City of Oakville. Originally, Oakville purchased three buses, as announced August 11, 2015.
“Grande West continues to receive repeat orders which I see as significant validation of the Vicinity product,” stated William Trainer, President and CEO. “Vicinity buses are providing value and cost savings to many transit systems across the country as they replace the aging and underutilized 40 ft buses with newer, cost effective 30 ft Vicinity models. In most cases, transit operations are stating savings of up to 40% over the current 40 ft models. To keep up with demand, our production line is now booked to manufacture 15 buses per month for 2017, equating to over $60 million in revenue. Grande West is proud to have the confidence of so many Canadian Transit operators, and we continue to bolster our reputation in the U.S. Current firm orders for 2017 are already at 115 buses, putting us on track to meet or exceed our production goals.”
About Grande West Transportation Group
Grande West is a Canadian bus manufacturer which designs, engineers and manufactures Vicinity buses for transit authorities and commercial enterprises. With little competition in the “mid-size” bus range, Grande West has set itself apart from others with the Vicinity bus – a heavy duty mid-size, true community transit bus for the North American market.
The Vicinity is designed with affordability, accessibility and global responsibility in mind. It costs significantly less than a regular 40 foot transit bus, burns less fuel and emits less harmful emissions.
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Cautionary Note Regarding Forward-Looking Statements
This press release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation, which are based on certain assumptions and reflects management’s current expectations. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the completion of the Offering and the use of proceeds from the Offering, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results or events to differ materially from Grande West’s expectations include uncertainties relating to general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; the ability to negotiate the Offering on acceptable terms; timing of closing; the ability to satisfy conditions of the Offering; receipt of approval from the TSX-V; completion of the Offering; and other risk and uncertainties disclosed in Grande West’s reports and documents filed with applicable securities regulatory authorities from time to time. Grande West’s forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made.
Grande West assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.
Dan Courtney
1-604-607-4000
[email protected]
www.grandewest.com
The Howard Group
Jeff Walker
1-888-221-0915
[email protected]
www.howardgroupinc.com
Paradox Public Relations
Carl Desjardins
1-866-460-0408
[email protected]
www.paradox-pr.ca
