Toronto Stock Exchange: ARF; ARF.DB
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION TO UNITED STATES/
CONCORD, ON, Feb. 24, 2015 /CNW/ - Armtec Infrastructure Inc. ("Armtec") (TSX: ARF) has been requested by Investment Industry Regulatory Organization of Canada (IIROC) to comment on the recent increase in its share price.
As previously announced, Armtec continues to review its liquidity, financial covenants, leverage and capital structure. Armtec continues to work with its lenders and advisors to explore various strategic alternatives in light of the pending expiry of its Senior Debt to EBITDA covenant waiver and maturity of its short-term credit facility with Brookfield on February 27, 2015. Armtec does not intend to make any further announcements in respect of this matter unless and until its Board of Directors has approved a particular course of action or otherwise determines that disclosure of such developments is material.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.
Armtec is a manufacturer and marketer of a comprehensive range of infrastructure products and engineered construction solutions for customers in a diverse cross-section of industries that are located in every region of Canada, as well as in selected markets globally. These markets include Canada's national and regional public infrastructure markets and private sector markets in agricultural drainage, commercial building, residential construction and natural resources. Armtec operates through a network of offices and production facilities across the country. Armtec operates in two business units: Drainage Solutions manufactures and markets corrugated high-density polyethylene pipe, corrugated steel pipe and other drainage related products including small bridge structures. Precast Concrete Solutions manufactures and markets highly engineered precast systems such as parking garages, bridges, sport venues and building envelopes as well as standard precast products such as steps, paving stones and utility vault.
Caution Concerning Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of securities laws. Such statements relate to the company's or management's objectives, projections, estimates, expectations, or predictions of the future and can be identified by words such as "will", "anticipate", "estimate", "expect" and "project" or variations of such words. These statements are based on certain assumptions and analyses by the company that reflect its experience and its understanding of future developments. Such statements are subject to a number of uncertainties, including, but not limited to, the results of the company's review of its strategic alternatives, and other factors identified in the company's periodic filings with securities regulatory authorities in Canada. Many of these uncertainties are beyond the company's control and, therefore, may cause actual actions or results to differ from those expressed or implied herein. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Armtec Infrastructure Inc.
For further information: Carrie Boutcher, Vice President & Corporate Secretary, Armtec Infrastructure Inc., Tel: (647) 795-9290