VANCOUVER, Feb. 13, 2018 /CNW/ - Grande West Transportation Group Inc. (TSXV: BUS; OTC PINK: GWTNF) – February 13, 2018: ("Grande West" or the "Company"), a Canadian manufacturer of mid-sized multi-purpose transit vehicles for sale in Canada and the United States, is pleased to announce the appointment of Jean-Marc Landry to the position of Chief Executive Officer.
Grande West is making leadership changes that are focused on aligning Corporate management with the needs of our growing company. These efforts are an important part of our shift from a product-focused business to a stronger sales and customer development organization.
Over the course of the past 10 years and William Trainer's leadership, Grande West designed, engineered, manufactured, assembled and delivered our Best-In-Class mid-size Vicinity bus. To date, Grande West has delivered over 300 buses in Canada and the US, and is experiencing increased demand as the concept of right sizing takes hold.
At this time, to support this change in focus, Grande West announces that Mr. Trainer will transition from his CEO role to undertake the roles and responsibilities of President and remain as a member of the Board of Directors. Jean-Marc Landry, our existing VP of Sales, will assume the CEO role.
Mr. Trainer notes, "I've been intimately involved with the success of Grande West to date and have been very pleased with our growth and expansion throughout North America. However, there comes a point in time when good corporate governance demands the right people in the right roles. That time has come. Our company is reaching an inflection point in our growth and our next phase along this growth path is focused on sales. So, sales strategy rather than product design strategy moves to the forefront. I feel very comfortable handing the reins over to Jean-Marc."
"Will and I have worked together for over four years now" said Jean-Marc Landry, "and we will continue to work diligently to grow Grande West as we move forward into 2018 and beyond. We will begin to implement expanded sales strategies and processes that will support the continued rapid growth that we expect. I will also be working alongside others here at the Company to assure that our shareholders and other stakeholders are well informed of our progress."
The Company has granted Mr. Landry 1,000,000 stock options with a strike price of $1.90 for his executive incentive plan that will vest over a three year period. The options are exercisable until February 14, 2023, subject to exchange approval.
The Company is currently preparing fourth quarter and year-end 2017 audited financial statements to be released in late April.
About Grande West
Grande West is a Canadian company that designs, engineers and manufactures mid-size multi-purpose transit vehicles for public and commercial enterprises. Grande West's Best-in-Class heavy-duty Vicinity bus is available in 27.5', 30' and 35' models powered by clean diesel or CNG designed with affordability, accessibility and global responsibility in mind. It costs significantly less than a regular 40 foot transit bus, is more maneuverable, burns less fuel and emits less harmful emissions. Grande West will soon be offering a new product which will be the first Crossover Vehicle in the transit space - a medium-duty, monocoque-designed rear engine vehicle.
The Company has been successful in supplying Canadian municipal transportation agencies and private operators with new buses and is receiving follow-on orders in many Canadian transit agencies. Grande West is compliant to Buy America certification, and along with ABG, its exclusive US distributor, is actively pursuing opportunities in public and private transit fleet operations that would benefit from Grande West's vehicles.
For further information please contact:
Grande West Transportation
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.