TSX Symbol: HNL
CALGARY, Aug. 13, 2015 /CNW/ - Horizon North Logistics Inc. ("Horizon North" or the "Corporation") announced today that it has recently signed several new contracts with energy companies operating in Canada's Montney region.
Under these contracts, Horizon North will provide full service solutions including accommodation rental, catering and associated camp management services for a 3 year team. The aggregate revenue of these new contracts is expected to be $41.7 million over the term and will utilize 415 executive style beds and related infrastructure from Horizon North's existing fleet.
"These contract awards provide additional certainty to our expected results for the back half of 2015," noted Rod Graham, President and Chief Executive Officer. "Despite recent commodity price volatility, certain customers are moving forward with their plans to supply gas to future west coast liquefied natural gas facilities."
Horizon North is pleased to announce the launch of its new website. The website is a step forward in communicating our message of being One Company, One Brand, One Vision. The site will be accessible to the public starting on Friday, August 14th 2015.
About Horizon North
Horizon North is a remote resource development service company that provides workforce accommodation solutions, camp management and catering services, and road and access matting solutions. Horizon provides these services in support of oil sands development, oil and gas exploration, mining and infrastructure projects throughout Canada's western provinces and northern territories where local infrastructure does not meet project requirements.
Additional information related to the Corporation, including the Corporation's annual information form, press releases, financial statements and MD&A are available on SEDAR at www.sedar.com
This news release contains certain statements or disclosures relating to Horizon North that are based on the expectations of its management as well as assumptions made by and information currently available to Horizon North which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Horizon North anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by terms such as "forecast", "future", "may", "will", "expect", "anticipate", "believe", "potential", "enable", "plan", "continue", "contemplate", "pro-forma", or other comparable terminology.
In particular, forward-looking statements in this news release include, but are not limited to, statements concerning Horizon North's expectations regarding the aggregate revenue of the new contracts and the accessibility timing of Horizon North's new website.
Certain information set out herein is "financial outlook" within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Horizon North's reasonable expectations as to the anticipated results of business activities. Readers are cautioned that this financial outlook may not be appropriate for other purposes.
Although Horizon North believes that the expectations and assumptions, including expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Horizon North cannot give any assurance that that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause the performance or achievements of Horizon North to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. These include, but are not limited to general economic, market and business conditions. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information regarding some of these risks, expectations or assumptions and other factors that could affect Horizon North's operations and financial results may be found in Horizon North's Annual Information Form for the year ended December 31, 2014 and Horizon North's Management's Discussion and Analysis prepared for the year ended December 31, 2014 and other documents which may be accessed through the SEDAR website and found on the Corporation's profile at www.sedar.com. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Corporation undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Horizon North Logistics Inc.
For further information: Please contact Rod Graham, President and Chief Executive Officer or Scott Matson, Senior Vice President Finance and Chief Financial Officer, 1600, 505 - 3rd Street S.W., Calgary, Alberta T2P 3E6; Telephone (403) 517 - 4654, Fax: (403) 517 - 4678; website: www.horizonnorth.ca