KITCHENER, ON, Aug. 7 /CNW/ - Electrohome Limited announced today that
its wholly-owned subsidiary, 2112126 Ontario Inc., has closed the sale of its
land on Victoria Street in Kitchener, Ontario. The property is currently
undergoing remediation and rehabilitation as a result of contamination from a
previously discontinued historic operation.
The property was sold on an "as is" basis for nominal consideration and
the purchaser agreeing to remediate the property.
As a result of the sale, Electrohome will take approximately $375,000
into income from the reversal of the remaining related remediation accrual in
its financial statements.
TSX Venture Exchange has not reviewed and does not take responsibility
for the adequacy or accuracy of this release.
For further information:
For further information: John A. Pollock, Chairman and Chief Executive
Officer or Gary Dumoulin, Vice-President and Secretary at (519) 749-3319