Stuart Olson Buildings Group Awarded $120 Million in New Contract Awards

CALGARY, Feb. 4, 2015 /CNW/ - Stuart Olson Inc. (TSX: SOX, SOX.DB, SOX.DB.A) ("Stuart Olson") today announces project awards totaling approximately $120 million.

Stuart Olson's Buildings Group has been awarded a $90 million construction management contract for a leisure centre complex to be built in Southern Alberta and a contract to provide $30 million of construction management services to a regional health care provider in Saskatchewan.  Construction of the leisure centre project is planned for early 2016. The provison of construction services in Saskatchewan is expected to start in the second half of 2015.  

"These project awards further strengthen our backlog and illustrate our continued ability to secure vertical infrastructure projects under our relationship focused approach," said David LeMay, Stuart Olson's President and CEO.

 About Stuart Olson Inc.

Stuart Olson Inc. provides building construction, commercial and industrial electrical contracting, and industrial insulation services to an array of public and private sector clients. Stuart Olson operates office locations throughout British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. Stuart Olson common shares, and Stuart Olson's 2010 and 2014 convertible debentures are listed on the Toronto Stock Exchange under the symbols "SOX", "SOX.DB", and "SOX.DB.A", respectively.

Forward Looking Information

This press release contains certain statements that may constitute forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, without limitation, statements relating to the value and scope of the new awards. Often, but not always, forward-looking information can be identified by the use of such words as "may", "will", "expect", "believe", "plan", "intend", "estimate", "outlook", "forecast", "should", "anticipate" and other similar terminology, including statements concerning possible or assumed future results. Forward-looking information is based on management's reasonable assumptions, analysis and estimates in respect of its experience and perception of trends, current economic conditions, government policies and expected developments, as well as other material factors that it considers to be relevant at the time of making such statements.

The forward-looking information in this press release is included solely for the purpose of assisting investors in understanding Stuart Olson's financial position and the results of its operations as at the date hereof. By its nature, forward-looking information involves known and unknown risks and uncertainties, which give rise to the possibility that management's assumptions, analysis and estimates will be incorrect and that Stuart Olson's anticipated results will not be achieved. Although Stuart Olson believes that the statements with respect to forward-looking information are reasonable and current, such statements should not be interpreted as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Forward-looking information is necessarily subject to a number of factors that may cause actual results to differ materially from those results implied by the expectations suggested by such information. Those factors include, without limitation, the risks and uncertainties described in Stuart Olson's Annual Information Form filed with the securities regulatory authorities in Canada under Stuart Olson's profile at www.sedar.com. Readers are encouraged to consider the foregoing risks and other factors carefully when evaluating the forward-looking information and are cautioned not to place undue reliance upon such information when making investment decisions.

The forward-looking information in this press release is current to the date hereof, and is subject to change following such date. While Stuart Olson may elect to do so, unless required by applicable law, it undertakes no obligation to update this information to reflect new information or circumstances at any particular time.

SOURCE Stuart Olson Inc.

For further information: Daryl Sands, Executive Vice President and Chief Financial Officer, Stuart Olson Inc., (403) 685 7777, inquiries@stuartolson.com

RELATED LINKS
http://www.stuartolson.com/

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