VANCOUVER, April 26, 2018 /CNW/ - Grande West Transportation Group Inc. (TSXV: BUS; OTC PINK: GWTNF) – April 26, 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 Mr. Danial Buckle as Chief Financial Officer.
Dan is a Chartered Professional Accountant (CPA, CA) with more than 15 years of diversified experience and leadership in finance. Most recently he was the Finance Director and Corporate Secretary for Fortress Paper. In this position he had a leadership role for the public company global financial reporting and was heavily involved with forecasting, analyzing operations and investment decisions, obtaining financing, global tax planning, as well as due diligence and integration for acquisitions. Prior to Fortress, Dan worked as a manager at PricewaterhouseCoopers.
Mr. Buckle commented, "I am very excited to be joining the Grande West team during a period of rapid growth and expansion for the Company. I am also extremely proud to be joining a team filling the need for more efficient and environmentally friendly transit options."
Jean-Marc Landry, Chief Executive Officer of Grande West stated, "Dan joins our executive team as the new CFO at a very good time for Grande West. Dan's previous experience translates well into Grande West's current growth strategy, focus on clear reporting and integration of operational and financial systems. "
The Company has granted Mr. Buckle 250,000 stock options with a strike price of $1.45 for his executive incentive plan that will vest over a three year period. The options are exercisable until April 27, 2023, subject to exchange approval.
Aaron Triplett is stepping down from his position and will assist in the smooth transition of his role. The Company wishes to thank Mr. Triplett for his time and efforts over the past few years and wishes him success in the future.
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.
For further information: Grande West Transportation, John LaGourgue, VP Corporate Development, Ph: 1-604-607-4000, [email protected], www.grandewest.com