VANCOUVER, Sept. 8, 2016 /CNW/ - Grande West Transportation Group Inc. (TSXV: BUS; OTC PINK: GWTNF) – ("Grande West" or the "Company"), a manufacturer of heavy-duty mid-sized transit buses for sale in Canada and the United-States, is pleased to announce that the City of Edmonton has awarded Grande West a long term supply contract for mid-size 30 foot Vicinity® buses.
The contract has forecasted quantities (firm and options) for up to forty-five (45) buses, allows the City to increase the number of buses as required and extend the contract for up to 5 years. The initial 2017 delivery order is for six (6) Vicinity buses valued at approximately $2.33 million CAD. The 5 year contract value, if fully exercised, is estimated at approximately $18 million CAD.
"We are extremely proud of this important award from the City of Edmonton," said Jean-Marc Landry, Grande West's Vice President, Business Development, "This order reinforces Grande West's strong momentum and growing market share in Canada."
About Grande West Transportation Group
Grande West Transportation Group is a Canadian bus manufacturer which designs, engineers and manufactures mid-size buses for transit authorities and commercial enterprises. Grande West's Vicinity bus is available in 30 and 35 foot models designed with affordability, accessibility and global responsibility in mind. It costs significantly less than a regular 40 foot transit bus, burns less fuel and emits less harmful emissions.
The Company has been successful in supplying Canadian municipal transportation agencies and private operators with new buses and is receiving follow-on orders in most Provinces across the country. Grande West is also receiving orders in the much larger US market from private operators, while working towards a 'Buy America' certification in order to sell to federal and state transit authorities.
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the use of proceeds from the Private Placement, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from Grande West's expectations include uncertainties relating to the receipt of final approval from the TSX-V; and other risk and uncertainties disclosed in Grande West's reports and documents filed with applicable securities regulatory authorities from time to time. Grande West's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Grande West assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE Grande West Transportation Group Inc.
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