WesternOne Inc. Secures $31.4 Million in Workforce Housing Projects
VANCOUVER, Dec. 10, 2013 /CNW/ - WesternOne Inc. ("WesternOne") (Toronto Stock Exchange: WEQ, WEQ.DB, WEQ.DB.B and WEQ.DB.C) announced today that its Britco division has entered into contracts with customers to design and build workforce accommodations valued, in aggregate, at approximately $31.4 million.
One of the projects involves Britco building a 400 room facility that will include kitchen, dining and recreation facilities as well as administration offices. Work is scheduled to start in the first quarter of 2014. The complex will be located in northern Alberta and is scheduled to be completed and fully commissioned in the summer of 2014.
The second project will see Britco providing 120 dorm rooms and a variety of other workforce accommodation units beginning in Q4 of 2013 and extending throughout 2014. The workforce housing units are destined for northern British Columbia.
Certain statements in this press release may constitute "forward-looking" information that involves known and unknown risks, uncertainties and other factors, and it may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Such information includes, without limitation, statements with respect to: the design and build of workforce housing projects in northern Alberta and northern British Columbia and the start and completion dates of the projects. Actual events or results may differ materially.
Forward-looking information contained in this press release is based on certain key expectations and assumptions made by WesternOne, including, without limitation, expectations and assumptions respecting: the outlook of WesternOne's business and the economy in Western Canada, the supply and demand for WesternOne's products and services and management's assessment of future plans and operations. Although the forward-looking information contained in this press release is based upon what the WesternOne's management believes to be reasonable assumptions, WesternOne cannot assure investors that actual results will be consistent with such information. Forward-looking information reflects current expectations of management regarding future events and operating performance as of the date of this press release. Such information involves significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information, and a description of these factors can be found under "Risk Factors" in WesternOne's Annual Information Form dated March 28, 2013 and Management's Discussion and Analysis dated November 14, 2013, which are available on SEDAR (www.sedar.com).
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to WesternOne. The forward-looking information is made as of the date of this press release and WesternOne assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
WesternOne seeks to acquire and grow businesses in the construction and infrastructure services sectors in order to generate stable and growing dividends to its shareholders and to achieve capital appreciation.
With over 1,000 employees in Australia, Canada, and the United States, Britco is one of the largest modular construction companies in the industry.
Britco provides temporary and permanent residential and commercial modular buildings and offers leading design-build capabilities as well as turn-key construction project management services for a wide range of customers in the infrastructure, construction, energy and resource sectors.
Toronto Stock Exchange: WEQ, WEQ.DB, WEQ.DB.B and WEQ.DB.C
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
SOURCE WesternOne Inc.For further information:
For investor relations information, please contact:
Andrew Greig, Manager of Investor Relations
Suite 910, 925 West Georgia Street
Vancouver, BC V6C 3L2
Phone: (604) 678-4042