VANCOUVER, March 14, 2017 /CNW/ - Grande West Transportation Group Inc. (TSXV: BUS; OTC PINK: GWTNF) ("Grande West" or the "Company"), a Canadian bus manufacturer of heavy-duty mid-sized transit buses for sale in Canada and the United States, is pleased to announce it has appointed Taras Kindzersky to the position of Chief Operating Officer to assist management with the Company's continued growth.
Mr. Kindzersky has over 20 years of business experience working at a variety of large corporations, specifically Finning Canada, a division of Finning International Inc., the world's largest Caterpillar equipment dealer. He joins Grande West from one of the 20 largest credit unions in Canada where he led the business banking division as Executive Vice-President, Business Banking. His combined career and educational milestones provide him with a diversity of knowledge and expertise to operate and drive success.
William Trainer, CEO of Grande West stated, "Bringing Taras to the management team is a key step in the Company's growth as he will be ensuring that each business unit is operating efficiently and with proper systems in place. We are very fortunate to have attracted such a great COO."
The Company has granted 250,000 stock options to Mr. Kindzersky, as well as 175,000 to officers and employees with a strike price of $2.50. These options will vest in accordance with the Company's stock option plan over a two year period and are exercisable until March 14, 2022, subject to exchange approval.
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 Best-in-Class Vicinity bus is available in 27.5, 30 and 35 foot 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, 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 many Canadian transit agencies. Grande West is Buy America certified and along with ABG, its exclusive US distributor, is actively pursuing opportunities to sell Vicinity into public and private transit fleet operations.
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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.
For further information: Grande West Transportation: John LaGourgue, Ph: 1-604-607-4000, [email protected], www.grandewest.com