VANCOUVER, Sept. 26, 2016 /CNW/ - Grande West Transportation Group Inc. (TSXV: BUS; OTC Pink: GWTNF) – September 26, 2016: ("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 it has received new orders from BC Transit for seventeen (17) Vicinity buses totalling $6 million CAD.
The order is for fourteen (14) 30 foot and three (3) 35 foot Vicinity buses for 2017 delivery. This is in addition to BC Transit's initial order for forty-one (41) 30 foot Vicinity buses valued at approximately $13 million CAD announced May 10, 2016.
The new orders for the 35 foot bus are Grande West's first in the larger format. Customers across Canada and the USA have expressed significant interest in the 35 foot Vicinity to satisfy ridership demand where traditional 40 foot buses are too costly to operate efficiently.
Current firm orders for 2017 delivery are for one hundred forty-nine (149) buses valued at over $50 million CAD. Firm orders and options for 2018-2020 delivery are currently at ninety (90) buses.
William Trainer, President and CEO stated, "Bringing the 35 foot Vicinity to market to meet customer requests for higher passenger capacity is another major milestone for Grande West. Offering a larger bus provides transit authorities with additional flexibility as they 'rightsize' their fleets for increased efficiencies with fuel, maintenance, ridership and capital costs. We will continue to innovate and extend our product line to meet the needs of our existing and growing customer base."
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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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