Horizon North Logistics Inc. Announces New Contracts
TSX Symbol: HNL
CALGARY, Dec. 4, 2012 /CNW/ - Horizon North Logistics Inc. ("Horizon") announced today that it has entered into a three year contract for the provision of camp facilities to accommodate 368 people for the operator of a SAGD oil sands project near Fort McMurray, Alberta. Horizon will provide the customer a full turnkey service in exchange for a fixed monthly rental rate for the camp equipment plus a daily charge for each occupied room. The contract calls for a minimum daily charge for 230 occupied rooms. The camp facilities are scheduled to be occupied in July 2013 and the expenditure required to build and install the assets will be incurred by Horizon beginning in early 2013.
In addition, Horizon announces that it has recently entered into a contract for the sale of a new 300 person camp including accommodation, office and recreation facilities to a mining operator in northwestern British Columbia. Total value of the project, which includes design, manufacture, transportation and site installation, is approximately $10.5 million. Horizon will begin manufacturing the 90 unit project in Q4 2012 with installation scheduled to be complete in mid 2013.
Additional information related to the Corporation, including the Corporation's annual information form, press releases, financial statements, and MD&A are available on SEDAR at www.sedar.com.
Certain statements contained in this news release may constitute forward-looking statements or information. All statements other than statements of historical fact contained in this news release may be forward-looking statements or information. In particular, forward-looking information includes the statements "The camp facilities are scheduled to be occupied in July 2013 and the expenditure required to build and install the assets will be incurred by Horizon beginning in early 2013." and "Horizon will begin manufacturing the 90 unit project in Q4 2012 with installation scheduled to be complete in mid-2013." These statements assume completion of these facilities by those projected dates. There is a risk that such targets may not be met. As such, many factors could cause the performance or achievements of Horizon to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements.
SOURCE: Horizon North Logistics Inc.For further information:
Please contact Bob German, President and Chief Executive Officer or Scott Matson, Vice President Finance and Chief Financial Officer, 1600, 505 - 3rd Street S.W., Calgary, Alberta T2P 3E6; Telephone: (403) 517 - 4654; Fax: (403) 517 - 4678; Website: www.horizonnorth.ca