Horizon North Logistics Inc. Announces New Contract
TSX Symbol: HNL
CALGARY, May 28, 2012 /CNW/ - Horizon North Logistics Inc. ("Horizon") announced today that it has entered into a three year contract for the provision of a 350 person camp for a large multinational operator in North East British Columbia. Working with its aboriginal partner, the Saulteau First Nation, Horizon will provide the customer a full turnkey service in exchange for a day rate per person that includes accommodation rental, catering and associated services. The contract calls for a minimum daily utilization rate of 70% over the course of the contract. The expenditure required to build and install this facility is included in Horizon's recently expanded 2012 capital budget of $120 million.
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.
This press release contains certain statements or disclosures relating to Horizon that are based on the expectations of its management as well as assumptions made by and information currently available to Horizon which may constitute forward-looking information under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Horizon anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking information. In some cases, forward-looking information can be identified by terms such as "forecast", "future", "may", "will", "expect", "anticipate", "believe", "potential", "enable", "plan", "continue", "contemplate", "pro-forma", or other comparable terminology.
As such, many factors could cause the performance or achievement of Horizon to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements.For further information:
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