SYLVAN LAKE, AB, Feb. 22, 2012 /CNW/ - Lonestar West Inc. (TSX-V:LSI) is pleased to announce that it has been named as a 2012 TSX Venture 50 Company.
The TSX Venture 50 is a ranking of strong performers on the TSX Venture Exchange, comprised of 50 companies, 10 from each of five industry sectors: mining, oil & gas, technology & life sciences, diversified industries and clean technology. The selection is based on a ranking formula with equal weighting given to market capitalization growth, share price appreciation, trading volume and analyst coverage. All data was as of December 31, 2011.
Through 2011, Lonestar saw a 163% rise in its stock price while the market cap increased 806%. These dramatic increases contributed to Lonestar achieving its ranking as one of the 10 leading companies in the diversified industries sector, and among the 50 best of the 2,250 companies listed on the exchange.
"Our team at Lonestar is honoured to be ranked in the 2012 TSX Venture 50", said James Horvath President and Chief Executive Officer of Lonestar. "This acknowledgement reflects Lonestar's ability to continue with its aggressive growth model through 2012 and beyond."
Refer to the following link for the TSX Venture Exchange press release:
Lonestar West Inc. (www.lonestarwest.com) currently operates a fleet of HVAC and vacuum trucks throughout Western Canada from its base in Sylvan Lake, Alberta. It is focussed on profitably growing its HVAC services to become a major national competitor in the market area.
Lonestar's shares trade on the TSX(Venture) Exchange under the symbol LSI.
Certain information and statements contained herein constitute forward-looking information, including the anticipated costs associated with the purchase of capital equipment, expectations concerning the nature and timing of growth within the business operated by Lonestar, expectations respecting the competitive position of such business, expectations concerning the financing of future business activities and statements as to future economic and operating conditions. Readers should review the cautionary statement respecting forward-looking information that appears in Lonestar's complete MD&A.
For further information:
James Horvath, President and CEO (403) 887 - 2074
Bev Roome, CA, Chief Financial Officer (403) 887 - 2074
Investor Relations, The Howard Group Inc.