KITCHENER, ON, July 31 /CNW/ - Electrohome Limited announced today that
its wholly-owned subsidiary, 2112126 Ontario Inc., has entered into an
agreement to sell 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 will be 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